YEREVAN. – Armenia will have to compete with the largest countries producing agricultural commodities in the Eurasian Economic Union's market, Armenian economist said.

Vardan Bostanjyan points to Turkey and the Latin American states as the largest producers, adding that Armenia will have to strengthen farm enterprises, so that to reduce costs and increase the competitiveness of the local fruit and vegetable industry.

Bostanjian does not share the opinion that Russia is not ready to buy more Armenian products.

“This is a good time for all countries that are free of sanctions. Latin America is happy because of the fact that their meat, vegetables and fruit will go to the vast Russian market due to retaliatory sanctions of Moscow. This is a good opportunity for Armenia and we must use it,” Bostanjyan told reporters.

However, Armenia needs to increase production capacity in order to compete in the Russian market.

“The problem is that most of our 340,000 farm families still have to sell only the surplus of their harvest,” the economist emphasized.