YEREVAN. – Two-thirds of Armenia’s exports are sent to the Customs Union (CU) countries.

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

Hence, according to the PM, the facilitation—within the framework of the CU integration—of the procedure for the transferring of goods is very important for business.

As per Sargsyan, the industrial culture and the amount of the added value of the products in the CU member countries are similar with the level in Armenia; this means that working in the Russian, Belarusian, and Kazakh markets will be much easier, the premier added.

According to the Prime Minister of Armenia, the technical regulations are being coordinated, too, and therefore the goods manufactured with national standards can be exported to the Single Customs Union territory without additional conditions.

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.