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YEREVAN. – There is no need to be pessimistic toward the Eurasian Economic Union (EEU) because it is still in the phase of formation, Armenian economist Vardan Bostanjyan stated at a press conference on Monday. 

In his words, considering the geographical scope of the EEU market, Armenia will definitely succeed.

“Unless there is free economic competition in Armenia, the [country’s] economy will not develop, there will be no investments,” Bostanjyan highlighted. “Tax approaches need to be shown, so that the small and medium-sized businesses can work. This will lead to a growth in revenue, and in this case we [i.e. Armenia] will have domestic and foreign investments.” 

The Eurasian Economic Union member states are Armenia, Russia, Belarus, Kazakhstan, and most recently, Kyrgyzstan.

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