Your trusted source

Armenia’s trade turnover with the member states of the Russian-led Eurasian Economic Union (EAEU) increased by 82.7% in the first nine months of 2022 from a year earlier, MP Vagharshak Hakobyan, the deputy chair of the Armenian National Assembly Standing Committee on Regional and Eurasian Integration, told a meeting on Monday.

Meanwhile, Armenia’s trade with the Commonwealth of Independent States (CIS) countries and the European Union member states grew by 75.4% and 38.4 %, respectively.

The debate focused on the challenges facing Armenia’s food security amid free movement of goods within the EAEU.

Hakobyan, who represents the ruling Civil Contract party, highlighted that Russia remains Armenia’s largest trade partner, adding the trade between the two countries reached $3.2 billion in January-September 2022, up by 80.5 % from 2021.

Armenia exported $1.5 billion worth goods with a high customs value to Russia in nine months, including $193 million worth foodstuff, alcohol and tobacco.

The MP pointed to food transport problems, stressing the need to create special green spaces for food trucks.

The EAEU consists of five member states – Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.