President of Armenia Serzh Sargsyan told Sputnik Armenia that he never regretted his country’s entry into the Russia-led Eurasian Economic Union (EAEU) almost two years ago.

“Armenia’s entry into the EAEU coincided, unfortunately, with the post-sanctions economic downturn in Russia, the union’s powerhouse,” Sargsyan said in an interview with renowned Russian journalist Dmitry Kiselyov, adding, however, that his country “did the right thing” by joining the EAEU and “lost nothing.”

The fallout from anti-Russia sanctions worsened Armenia’s performance, which has a market of three million people and is tied to the Russian economy “with a thousand strings,” the president added. “By joining the Eurasian Economic Union, we became part of a market of 170 million, or even more. As soon as we reach the union’s main goal of streamlining the flow of goods, services, workforce and capital, we will win a lot.”

In his words, Armenia’s exports have increased nearly 50 percent in 2016.

“We significantly increased exports this year and last year as well,” noted the President. “This year, we increased exports by almost 50 percent; most of it headed for the Eurasian Economic Union, of course. And this fact is very, very important.”