Russian deputy foreign minister: Resigning membership in the EAEU is against the interests of Armenia

Resigning membership in the Eurasian Economic Union (EAEU) would not benefit Armenia and would be against its interests. Russian Deputy Foreign Minister Alexander Pankin said this in an interview to RIA Novosti.

According to the diplomat, cooperation with the EAEU is beneficial for Armenia; in the past few years, the country has become a leader in the union in terms of GDP growth, fixed capital investments, the volume of construction works already completed, etc.

“All of this largely became possible due to the single market within the union, free movement of working resources, the simple procedure for starting enterprises, preferential terms for the supply of energy resources, etc. Thus, from an economic point of view, membership in the union certainly benefits Yerevan, while resigning membership — in our opinion — will be against the country’s interests,” Pankin noted.

“The priorities, mentioned by Armenian Prime Minister Nikol Pashinyan, are in line with our approaches in terms of integrated development; we are committed to effective cooperation,” he added.

In early February, Pashinyan said at the meeting of the Eurasian Intergovernmental Council that in 2023, Armenia’s trade turnover with EAEU countries had increased by 39% compared to the previous year, amounting to about $7.8 billion.