YEREVAN. – Even though the Eurasian Economic Union (EEU) has opened up new opportunities, it is unclear whether Armenia is now inside or outside the EEU, linked to the synchronization of the economic processes and procedures.

Head of the European Bank for Reconstruction and Development (EBRD) Yerevan Office, Mark Davis, noted the aforesaid at a discussion on Wednesday. He stated this reflecting on the remark that although Armenia has been an EEU member for already ten months, the respective economic results are quite unfavorable.

In his words, up to 25 years are envisioned for the unification of the financial, natural gas, and oil sectors in the EEU. And taking this into account, as per Davis, it is clear that the results will not be visible now.

“But in the exports of agricultural products and the textile industry, for example, opportunities are opening which are noticeable,” added the EBRD official. “I’m optimistic.”

In turn, member of the European Union (EU) Delegation to Armenia, Ludwig Ciechanowski, noted the following on this matter: “Our viewpoint is that it’s early to talk about results. A differentiation should be made between the long-term and short-term results. The EEU may give an expectation of a long-term result. Besides, the currencies are devaluing in the region, [and] the region is in recession which impacts Armenia, which, however, has nothing to do with the EEU.”