Russia’s Deputy Prime Minister says Armenia has no plans to leave EAEU

Armenia does not intend to withdraw from the Eurasian Economic Union, as the country fully understands the economic benefits of its membership, Russian Deputy Prime Minister Alexey Overchuk has said, TASS reports.

Speaking to journalists, Overchuk stated that Armenia highly values the preferential conditions and trade advantages it receives through participation in the bloc. “Armenia, as we know, is not going to leave the Eurasian Economic Union. They understand very well both the scale of preferences and the volume of trade with other EAEU member states,” he said.

According to the Russian official, Armenia’s trade volume within the union has largely been made possible due to favorable conditions available to member states. He pointed to zero customs duties, harmonized standards and technical regulations, as well as open markets that allow the free movement of goods among EAEU countries.

Overchuk noted that these mechanisms have created significant economic opportunities for Armenia and contributed to the country’s trade development. “Today our markets are open and goods move freely. Armenians understand very well the advantages that participation in the Eurasian Economic Union provides and do not want to leave,” he added.