YEREVAN. – Armenia’s high positions at the World Bank Doing Business ranking gladdens the Eurasian Economic Commission (EEC).   

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

“This only makes us happy, since we underscore the precept of the competition of powers. Each business entity can choose what will be most suitable to it,” Valovaya stated.

She added that, in these conditions, the state agencies of the CU countries will compete to attract business.

Armenia, Kazakhstan, Belarus, and Russia are ranked 37th, 50th, 63rd, and 92nd, respectively, in Doing Business 2014.

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.