Under current conditions, the Eurasian Economic Union (EAEU) ensures the dynamics of the development of the economies of the member countries of the organization. Armenian Prime Minister Nikol Pashinyan stated this at the session of the Eurasian Intergovernmental Council in Moscow Friday.

"In the context of modern realities, the activities of the EAEU have given an additional impetus to the development of economic cooperation between member countries, contributing to the dynamics of economic growth of our states on various scales," Pashinyan noted.

According to him, the freedom of movement of goods, services, capital, and labor in the territories of the EAEU member states is a fundamental principle.

"Of course, one of the key criteria for evaluating the effectiveness of cooperation remains the identification and elimination of obstacles to mutual trade, which is specified in the priorities of Armenia’s [current] chairmanship [at the EAEU]. In this context, we highly appreciate the commission's efforts to analyze the dynamics and identify the main trends in the emergence and elimination of obstacles.

This ongoing work remains at the focus of Armenia's attention, and its ultimate goal is to create new opportunities for business development in the Union countries. We also consider it important to effectively implement the roadmap to create favorable conditions for the development of e-commerce. This will not only facilitate the digital trade procedure, but also create a more predictable and stable environment for all participants in the process, which in turn will become another tool to ensure the stable functioning of the EAEU internal market.

From the point of view of achieving the goals and tasks of the EAEU, the launch of the financial support mechanism for cooperation projects was a key element. This is a significant step towards increasing the competitiveness of industry in our countries; and with the right approach, it can contribute to the creation of high-tech sectors and the expansion of industrial cooperation. We promote awareness of the possibilities of this mechanism, aiming at the participation of enterprises from Armenia in prospective cooperation projects.

Our country's industrial potential, including jewelry and pharmaceuticals, as well as agro-processing sectors, have significant prospects for development within the framework of cooperation with partners from other countries. For the effective implementation of the financial support mechanism, Yerevan supports the proposal to expand the list of international financial organizations and optimize the terms of consideration of bids, which will open additional opportunities and accelerate the process of implementation of joint initiatives," the Armenian PM stated.