Remarks of Ambassador of the RA at the Seminar "Prospects and Potential for Business Cooperation between the countries of the Eurasian Economic Union and The Netherlands"

21 November, 2019

Excellencies,

Distinguished Colleagues,

Business Community representatives,

Ladies and gentlemen,

It is a great pleasure to welcome you all at this special event on the Eurasian Economic Union. I would like to thank our host- Trade Representation of Russia in the Netherlands for providing this beautiful venue in the heart of the Dutch capital. It is a privilege to have among us H.E. Mr. Alexander Subbotin, Head of the Eurasian Economic Commission Delegation, Member of the Board – Minister in charge of Industry and Agriculture of the Eurasian Economic Commission and the accompanying delegation.

Mr. Subbotin and colleagues from the Eurasian Commission will present a detailed information on the benefits of starting or developing businesses in the countries of the Union, so I would like to elaborate more on Armenia’s interests within the Union and beyond.

The EEU is already five years old and is a market of 183 million consumers, located on the crossroads of important trade routes. Historically, the Eurasian continent was a mosaic of trade, economic, cultural, and communication, in which Armenia played an important role, standing in the very centre of trade routes between East and West - the Great Silk Road. Nowadays, Armenia can certainly be regarded as a gateway to Central Asia and the Middle East.

Armenia joined the Eurasian Economic Union in 2015. It has an important strategic significance for my country. It enables us to have facilitated access into protected markets of goods, the united market of services of the Eurasian Union, to attract investments, to have access to resources, to the transport corridors, to have free movement of goods, capital, services and people. My country has free trade agreements with almost all CIS countries. Armenia also benefits from the "Generalized Systems of Preferences GSP" of the US, Canada, Switzerland, Japan, Norway, as well as the "GSP + Generalized Scheme of Preferences" provided by the European Union.

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Chairmanship at the EAEU

This year Armenia is presiding in the Supreme Eurasian Economic Council. One of the main priorities during our chairmanship is the diversification of foreign economic relations and the expansion of free trade agreements’ geographical coverage. Armenia has made tireless efforts to ensure positive dynamics of integration, tackle problems that may give an additional impetus to economic growth of the member countries. Armenia strongly believes that it is important to continue the development of trade and economic relations of the Union with third countries and associations. The signing of relevant agreements with Iran, China, Singapore and Serbia, and the completion of the ongoing talks with, Egypt, Israel and India would open a new page in the process of integrating the Union into the global economy. The Union is open to dialogue and actively cooperates in various formats with the third countries, regional integration associations and international organizations in various regions of the world – from Latin America and Africa to South-East Asia.

Alongside developing intensive cooperation with overseas partners the member states are attaching due importance to the deepening of economic and trade exchanges with the great market of European Union, which has an unexplored potential for goods originating from the Eurasian Economic Union, but equally important for us is to learn the best practices in integration and common market building, that the European Union can offer. And here the euroepan companies with their experience of doing business worldwide, with their huge and exemplary culture of business is of the utmost assistance.

It could be emphasized that not only national economies and business circles of the Member States but foreign business as well feel the integration effects. The potential attractiveness of the Eurasian union for foreign business is proved by independent ratings. In particular, all the Eurasian Union Member-States have significantly strengthened their positions in the Doing Business index recently.

Dear guests,

I believe we will still have time to discuss the country specific prospects of cooperation during the small reception of wine and snacks, where you can enjoy a little bit of Armenia , so I would like to stop here and give the floor to my distinguished colleagues.

Thank you!

MFA RA
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