Since the establishment of the Eurasian Economic Union, Armenia has actively participated in the process of deepening economic cooperation, said Armenian FM Ara Aivazian.

His remarks came at a meeting of the standing parliamentary commission on regional and Eurasian integration.

According to him, as a result of such cooperation, there was an increase in trade turnover in the  Eurasian Economic Union, as well as an improvement in socio-economic indicators.

He also noted that an unfavorable economic situation still persists in the Eurasian Union, and by the end of 2021, the Union's economy will shrink by 3.9%. However, even with all these negative trends of an objective nature, the Eurasian market is extremely important for Armenian exports.

The minister is confident that close cooperation between Armenia and its partners in the Eurasian Union will contribute to its economic development and security.