YEREVAN. – The Eurasian Economic Union (EaEU) will have the same fate as its predecessors in the post-Soviet expanse, economist Ashot Yeghiazaryan said at a press conference on Saturday.

“In fact, the Eurasian Economic Union failed as an integration unit back on May 29 [, when the presidents of Russia, Belarus, and Kazakhstan had signed a treaty on the establishment of the EaEU],” the economist noted.

In his words, this is evidenced by the Supreme Eurasian Economic Council meeting, which was convened Friday in the Belarusian capital city of Minsk.

“[At this meeting,] Armenia deepened the de facto isolation it found itself in on September 3, 2013, when it made a decision to join the Customs Union. You can’t expect economic development without having an alternative.

“[With this decision,] Armenia not only recorded an economic regression, but, most importantly, it was deprived of an alternative. We [, Armenia,] lost the chance to collaborate with other countries,” Yeghiazaryan added.