Vardan Aivazian: Economic opportunities to expand after entry into CU

Trade with CIS countries accounts for 38% of Armenia’s foreign trade, while trade with European countries accounts for 42%, the deputy of HHK faction Vardan Aivazian said at a meeting with journalists today. Armenia exports copper and molybdenum concentrates to EU countries and consumer goods to CIS countries, according to the deputy.

He reminded those present that Armenia has been connected with CIS countries for 70 years and 80% of remittances come into Armenia from Russia. “Armenia needs Russia just as Russia needs Armenia,” he noted.

V. Aivazian also commented the possible rise in prices of some goods after Armenia’s entry into the Customs Union. According to him, prices of dairy products and bread will not rise, while, for example, the price of ‘a 15-year-old Opel’ will go up. Yet the labor and export markets will expand as a result of entry into the Customs Union, V. Aivazian said.

“Armenia’s economic opportunities will expand,” he stated.