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YEREVAN. – Integration processes are intended to ensure growth of welfare, as well as growth of GDP, export, employment, and economic security, professor in Economics Ashot Tavadyan told reporters on Thursday.

In the spring of 2013, corresponding researches have been conducted at the suggestion of the governments of Armenia and Russia.

“Armenia’s membership in the Eurasian Union has given a lot. We have received  30% reduction in price of gas. This saves about AMD  1 billion (about $2.1 million) in five years. We have received a push for development of diamond production.  We also received a loan of $ 270 million to repair our nuclear power plant," the professor explained, adding that about 750 kinds of products will be exempted from tax duties in the next five years.

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