YEREVAN. – Armenia’s exports to the Customs Union (CU) countries already have begun growing.

Eurasian Economic Commission (EEC) Board member Tatiana Valovaya, who is also Minister in charge of Technical Regulations, stated the aforesaid at Saturday’s Second Economic Forum—titled “Armenia-Customs Union: Opportunities and Challenges”—of the ruling Republican Party of Armenia.

“Although the integration processes are just beginning, the fruit, vegetable, and brandy exports from Armenia to Russia are growing,” Valovaya noted.

She also recalled that a national financial regulator is expected to be set up in the CU countries by the year 2025.

“All countries are interested in economic membership. Armenia likewise is interested in the membership issue, to develop its exports,” the EEC official said, in particular.   

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.