Armenia can figure on certain niche in Russia’s import substitution – expert

YEREVAN, January 29. /ARKA/. As Russia’s ally and an EEU member,
Armenia can count on certain percentage of Russia’s import
substitution that equals to some $200-320 billion, head of Integration
and Development research NGO Aram Safaryan said.

Safaryan pointed to a fight between two groups in Russia today, those
who say gas and oil should be sold and all the required goods should
be bought instead, and the statesmen’s group headed by the president
Vladimir Putin.

The second group believes being one of the influence centers of the
modern world Russia is able to have a self-sufficient economy, the
expert said. If this group wins in long term, new industrial companies
will be opening in various fields in the country, according to
Safaryan.

The expert said Armenia’s aim should be to get involved in this
market, develop its industry and create opportunities, in agriculture
in particular, to contribute to the import substitution.

If Armenia’s political elites wish, the country may get involved in
the defense industry as well, according to the expert.

Safaryan reminded Armenia became a full-fledged member of the Eurasian
Economic Union (EEU) on January 2, 2015, and has the same rights and
obligations now as Russia, Belarus and Kazakhstan.

Kyrgyzstan will become an EEU member on May 1, leading to a formation
of a 175-177 million market with freely flowing capital, services,
goods and labor, Safaryan said.

The country may feel the outcome from the EEU membership after some
time, and the first serious economic projections may expected only
after July 1, he said.

Yet, tangible results for the country’s economy should be expected
only in some 5-7 years, Safaryan said. In short term, the outcome from
the membership may be seen as early as by the end of this year, he
said. -0–

From: Emil Lazarian | Ararat NewsPress