YEREVAN. – Armenia needs to YEREVAN. – The standard of living in Armenia shall increase once the country joins the Customs Union (CU).

Prime Minister Tigran Sargsyan said the aforementioned at Saturday’s Second Economic Forum—titled “Armenia-Customs Union: Opportunities and Challenges”—of the ruling Republican Party.

“The GDP per capita in the Customs Union is three times higher than the same indicator in Armenia, and the integration processes contribute to the spread of welfare,” the PM stated.

In addition, as per Sargsyan, entering the Customs Union and the uninhibited workforce deployment within the CU can significantly reduce the migration risks, since a belief will be create among people that there is no longer a need to change citizenship when heading to another country for a long stay.  

Following the talks that were held on September 3, 2013 in Moscow between Armenian and Russian Presidents Serzh Sargsyan and Vladimir Putin, Sargsyan had announced that Armenia plans to join the Customs Union and subsequently engage in the formation of the Eurasian Economic Union. In December 2013, the “road map” for Armenia’s accession to the Customs Union was adopted. And in January of this year, the Government of Armenia approved the action plan for the implementation of this “road map.” The formal joining is expected in May. Aside from Russia, Belarus and Kazakhstan likewise are members in the Customs Union.

Photo by Arsen Sargsyan/NEWS.am