YEREVAN. – Armenia’s decision to join the Customs Union won’t stop its partnership with the World Bank, Henry Kerali, regional director of the WB for South Caucasus, told reporters in Yerevan on Tuesday. 

“Armenia is a sovereign state and has the right to choose partner states and unions. The World Bank is ready to work with Armenia, recognizing the choice it has made. Reforms of business environment stay on the agenda of our partnership,” he told.

Another task to be addressed by the World Bank is a level field of economic competition.

“In our discussions with the Government of Armenia we have reassured our commitment for assistance after September to open up all the sectors of the economy,” Kerali told.

To remind, on September 3 the President of Armenia, Serzh Sargsyan, declared the choice of Armenia to join the Customs Union.

When asked whether Armenia will benefit from the customs tariffs in the Union, Kerali said that this is a matter of negotiations.

“Armenia will go through a process of discussion with the Customs Union members to agree on these issues. One needs to realize that part of existing tariffs of the Union need to undergo compliance with the WTO,” he added.