YEREVAN. – Many people are talking about a recession in the Eurasian Economic Union (EEU), but this applies solely to raw materials.

Eurasian Economic Commission (EEC) member Sergei Sidorsky, who is also minister in charge of Industry and Agriculture, noted the above-said at Tuesday’s meeting—at the Ministry of Economy of Armenia—with several businessmen.

“We have been to companies from various sectors here,” stressed the EEC minister. “We are not only withstanding the crisis, but sticking to our markets.

“So, yes, we have recession in terms of oil because of the drop in prices, yet there is growth in the processing industry.”