Samvel Karapetyan: Armenia cannot afford another decade of experiments

During the business forum of the Armenian Businessmen Association, which was attended by more than 200 participants from Armenia and Russia, including representatives of business, the expert community, and non-governmental organizations, the challenges and prospects of Armenian business were discussed in the context of changing geopolitical and economic conditions.

“In these turbulent times, we see how Armenian entrepreneurs in Russia are not only strengthening their positions in business but also actively supporting their historic homeland by creating new jobs, investing in key sectors, and contributing to the development of trade and economic ties between Armenia and Russia,” Samvel Karapetyan, President of the Armenian Businessmen Association and founder of the Tashir Group, said.

A key issue on the agenda was Armenia’s external economic orientation. Karapetyan reminded attendees that in 2024, Armenia’s trade turnover with EAEU countries increased to $12.7 billion, while trade with the European Union decreased by 14% to $2 billion. According to him, these figures clearly indicate that the EAEU is providing the majority of external trade turnover and supporting the country’s economic stability.

In his speech, he emphasized that in recent months, the Armenian government has shown a shift from allied relations with Russia toward prioritizing cooperation with the West. Karapetyan expressed concern that the government’s steps toward European integration could lead to Armenia’s exit from the EAEU, the consequences of which would be “catastrophic.”

Karapetyan noted that if Armenia were to leave the EAEU, the unified mechanisms for regulating prices and supplies would cease to operate, meaning that the cost of gas, oil products, and electricity would increase. This could result in a serious blow to the entire economy, potentially leading to paralysis in certain sectors and destabilizing the country’s economic system.

Cooperation with the European Union is possible and necessary, but not at the expense of losing membership in the EAEU. According to Karapetyan, it is crucial to rely not on emotions and beautiful promises but on numbers and facts. He stressed that Armenia “cannot afford another decade of experiments.”