One of the main priorities of Armenia’s Chairmanship of the Eurasian Union in 2019 is the diversification of foreign economic relations and the expansion of the geography of free trade agreements, Armenian Prime Minister Nikol Pashinyan said in his speech at a meeting of the Eurasian Intergovernmental Council in Moscow on October 25.

Armenia intends to take full advantage of all the mechanisms that the free trade agreement with Serbia will provide, he assured.

Pashinyan added that another key event is the entry into force of an agreement on trade and economic cooperation between the Eurasian Economic Union and China. Despite the fact that the agreement does not provide for the abolition of duties, it will improve the conditions for access of goods from the Eurasian Union to China by simplifying trade procedures, increasing the level of transparency and the level of interaction in all areas, he added.

“Tangible results were achieved in terms of creating and strengthening the institution of the Eurasian Economic Union. We can proudly state that our organization has taken a huge step towards international recognition and approval of its place and role in the world economic system with a diverse portfolio of cooperation,” Pashinyan said.

He also noted that with the approach of February 2020, the issues of forming a new staff of the board of the Eurasian Economic Commission are becoming increasingly relevant.

 “We believe that the choice of a rotation mechanism can lay the foundation for a fair redistribution of functionality based on the principles of equality and mutual respect for interests,” PM said.

Pashinyan wished the Prime Minister of Belarus Sergey Rumas successful chairmanship next year.