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August 18
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YEREVAN. – The change in the Eurasian Economic Union (EAEU) customs duties will not lead to substantial inflation in Armenia.

Artak Shaboyan, Chairman of State Commission for the Protection of Economic Competition (SCPEC) of Armenia, stated the aforementioned at a press conference on Tuesday.

Reflecting on the EAEU single customs duties’ change in 2018 for Armenia, he stressed that it cannot have a significant impact on the prices of several widely purchased consumer goods in the country.

“In general, it’s about four to five goods of social importance—butter, chicken meat, vegetable oil, fish, and dairy products—in respect of which, first, our country has a quite developed local production, on the account of which the demand is mostly met,” explained Shaboyan. “And then, most of these goods are imported from the EAEU itself, and not from third countries.

“Therefore we believe that this change cannot have any substantial consequence in terms of price rises [in Armenia].”

The Eurasian Economic Union comprises Armenia, Russia, Belarus, Kazakhstan, and Kyrgyzstan.

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