Ashot Tavadyan: Armenia’s entry into EEI led to 30% cut in gas price

The integration processes are aimed at promoting exports, boosting economic security and creating new jobs, Prof. Ashot Tavadyan said when commenting on prospects of Armenia’s entry into the Eurasian Economic Union (EEU).

In his words, Armenia should have an export-oriented economy.

“Armenia’s membership in EEU led to a 30% cut in the natural gas price, we received loans of $270 million to upgrade our nuclear plant, etc.,” the economist told reporters.

According to him, unless Armenia joins EEU, remittances to Armenia will decrease. Besides, EEU member states will impose customs duties on Armenian goods, and the gas price for Armenia will be raised. 

“Russia promised to invest 2 billion in Armenia. These investments have been delayed a bit because of sanctions on Russia, but they will be made without fail,” Tavadyan said.