South Caucasus logistics diversification to drive foreign trade, Armenia says at EAEU meeting

Armenian Deputy Prime Minister Mher Grigoryan, in his speech at the meeting of the Eurasian Intergovernmental Council, lauded Azerbaijan’s lifting of the ban on transit shipments to Armenia as a significant development that opens prospects for utilizing the region’s full potential and contributing to the growth of mutual trade. The Deputy Prime Minister emphasized that diversifying transport and logistics infrastructure in the South Caucasus will significantly boost foreign trade.

“In this context, the recent removal of transit barriers through Azerbaijan to Armenia is particularly significant for us, as it opens up prospects for unlocking the region’s full potential and promoting mutual trade growth,” Grigoryan noted, according to TASS news agency.  He also stated that, given economic instability and the transformation of global trade, it is important to regularly analyze the EAEU’s external economic activities.

According to the Deputy Prime Minister, coordinated monitoring will not only identify emerging imbalances in a timely manner but also develop effective measures to protect the domestic market and local producers.

Grigoryan emphasized the effectiveness of cooperation between the customs services of EAEU member states and the Eurasian Economic Commission (EEC) in monitoring the declaration of high-tax-potential goods, which directly affects customs valuation and budget revenues. “It is also important that the harmonization of approaches and rules for applying national risk management systems takes into account the sovereign interests of EAEU member states,” he added. He described the improvement of cooperation mechanisms in consumer protection enshrined in the joint action plan of EAEU member states as promising.

He also noted that implementing the plan will not only become a key tool for managing trust between consumers and businesses particularly relevant amid the rapid growth of e-commerce but will also enhance market transparency, increase consumer awareness, and create a level playing field for economic operators.

The meeting of the Eurasian Intergovernmental Council, a key governing body of the Eurasian Economic Union (EAEU), kicked off in Shymkent, Kazakhstan on March 27.