News - Russia envoy: Armenia is practically the main acquirer in Eurasian Economic Union integration framework

Armenia is practically the main acquirer in the Eurasian Economic Union (EAEU) integration framework. For the second year in a row, Armenia is among the world leaders in terms of economic growth rates, largely thanks to trade and economic ties with EAEU and Russia. Russian ambassador to Armenia Sergey Kopyrkin stated this during the forum, entitled "Armenia in EAEU: Realities and prospects for Eurasian economic integration," at the tenth meeting of the Eurasian Expert Club. According to the diplomat, the ten-year results of EAEU's existence are quite positive, despite the very difficult global situation and the challenges faced by the member states of this union. "As of today, EAEU has become an effective integration structure, the activity of which brings specific economic benefit to each member of the union. And this is what the economic indicators say," said the Russian ambassador to Armenia. The diplomat noted that the GDP of EAEU countries increased from $1.6 to $2.5 trillion in ten years. According to the results of 2023, the total GDP growth reached 3.7 percent, which is higher than the global average. And Armenia and Kyrgyzstan became leaders in this growth. Also, Kopyrkin reminded that the principle of equality and mutual respect, taking into account the interests of all participants, is the basis of the EAEU work. "Russia wishes its Armenian partners successful work as EAEU chair. Russia highly values the mutually beneficial and multi-faceted ties that are developing with the Union partners, and we are ready for further joint work to strengthen our single integration union," added the Russian ambassador to Armenia.