Economic relations between Armenia and the Customs Union are developing quite dynamically.

Tatyana Valovaya, the Eurasian Economic Commission Board Member and Minister for Macroeconomics and Principal Directions of Integration, stated the aforesaid to the journalists who had come from Armenia.

Valovaya noted that the Government of Armenia and the Eurasian Economic Commission have started interacting. To note, however, there is also a Free Trade Zone along the lines of the CIS, and Armenia, Russia, Kazakhstan, and Belarus are full participants in this zone. Armenia and the other CIS countries may use, on voluntary basis, the technical regulations of the Customs Union. 

Tatyana Valovaya added that trade and economic ties between Armenia and the Customs Union developed very well in 2012, and they continue to develop.              

The Eurasian Economic Commission official also stated that the majority of Armenia’s exports to Russia comprise traditional products, that is, food and agricultural products.