EU Respects Armenia’s Decision to Join Eurasian Economic Union

The European Union is ready to work with Armenia, the head of the EU Delegation to Armenia, Ambassador Traian Hristea told reporters on Tuesday, Dec 16, said.

“The EU respects decisions of its partner states,” Hristea noted in reference to Armenia’s decision to join the Eurasian Economic Union (EEU). “We will continue assisting the country’s NGOs and civil society,” Hristea said.

Armenia-EU cooperation in 2015 will focus on such areas as good governance, human rights, judicial and legal systems, mobility, visa facilitation and readmission,” ARKA quoted Hristea as saying.

Speaking at a news conference, Hristea said the EU is ready to continue talks with Armenia on building a new legal framework that will determine the future of their relations by taking into account Yerevan’s commitments to the Eurasian Economic Union.

We will encourage our Armenian partners to participate in the Eastern Partnership program,” said Hristea.

Hristea cited the latest numbers released by Armenia’s National Statistical Service saying that the EU is the largest trade partner of Armenia accounting for 27 percent of Armenia’s foreign trade. He added that the EU is also the largest investor in Armenia accounting for 52% of the total investments made in Armenia.

According to the National Statistical Service, Armenia’s foreign trade turnover with the EU countries in January-October 2014 was worth $1.319.2 billion, a decline of 2.4% from the year earlier, while Armenia’s trade with former Soviet republics making the Commonwealth of Independent States (CIS) constituted 28.1% or $1.372.8 billion, an increase of 3.8%.

According to official statistics, the leader in terms of total foreign investment in the real sector of Armenia in January-September this year was Russia (about 271 billion drams). It was followed by Cyprus (about 95.9 billion drams) and Germany (about 84 billion drams).

Hristea recalled that in November 2014, the EU and Armenia signed a Memorandum of Understanding, outlining their strategic goals for the period of 2014-2017.

Also on November 3 the European Commission and Armenia signed a Memorandum of Understanding for the establishment of the Single Support Framework, which envisages an aide to Armenia from 140 million to 170 million euros in 2014-2017. These funds will be used to support Armenia’s private sector and reforms in public institutions, civil society and justice.


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