News - Economist: There is positive dynamics in Armenia-Russia economy despite political tension between them

Despite the difficulties, membership in the Eurasian Economic Union (EAEU)—that is, the absence of customs offices, barrier-free environment, free movement of capital, labor, access to the large EAEU market—all this gives Armenia huge advantages and is the reason for the economic leap that the country has today. Economist Tatul Manaseryan, head of the "Alternative" Research Center and member of the Eurasian Expert Club, told this to a press conference Tuesday. The economist recalled that the during the meeting of the Supreme Eurasian Economic Council of the EAEU in the Kremlin and the meeting of the Eurasian Intergovernmental Council in Sochi, Russia, the prime minister of Armenia had clearly stated that Russia is Armenia's main trade partner and the main reason for its rapid economic growth. According to Manaseryan, despite the current political tension between Armenia and Russia, the two parties are recording positive dynamics in the economic sphere. "As for the Crossroads of Peace project of the Armenian side, Moscow actually supports its implementation. The [regional] communication unblocking plan presented by the Armenian government assumes that the [regional] infrastructures should operate under the jurisdiction of the country through which they pass. Russia is funding the construction of the fourth tranche of the North-South road corridor by using the funds of the Eurasian Fund for Stabilization and Development. The amount of assistance in this direction now amounts to $150 million," Manaseryan added, in particular.