RUSSIAN ECONOMY’S RECOVERY TO BOOST ARMENIA’S EXPORTS – OFFICIAL

12:13 * 11.03.15

The recovery of Russia’s economy will raise also the export advantages
of Armenia, making the market more prosperous and stable, according
to the minister of international economic integration and reforms.

Speaking to Tert.am, Vache Gabrielyan said he particularly prioritizes
those trends of the domestic economy, which are in direct dependence
upon the economic situation in Russia. “[The crisis in Russia]
naturally affects the remittances’ volumes. In the context of global
economic developments, the international oil prices causes a decline
in the general export prices of goods, especially copper etc. So all
that naturally impacts the economy of Armenia,” he noted.

Gabrielyan said he sees that the interdependence also influences the
country’s rating. “When we look upon Fitch’s recent reports on Armenia,
we sse thaty regional impacts are cited as a major factor.

They cannot avoid bringing their influence, but at the same time, they
also offer opportunities. So it is important to take advantage of that
as the market becomes open for certain goods while closing for others.

It is important to realize that our role has to do with
competitiveness,” he said, considering the late-2014 surge in the
Dollar price a major influencing factor.

“The remittances to our country are in a direct correlative dependence
on the essential decline in the oil prices, and it was against the
backdrop of such developments that we joined the Eurasian Economic
Union. So our integration did not coincide with the best moment. But
no one in the world can predict or say how long it is going to last,”
Gabrielyan said, expressing hope that Armenia will not have to wait
long for the Russian economy’s recovery.

From: Emil Lazarian | Ararat NewsPress