Speaking at a regular meeting of the Eurasian Intergovernmental Council in Alma-Ata on January 3, Armenian Prime Minister Nikol Pashinyan said that despite geopolitical tensions, mutual trade in the Eurasian Economic Union (EAEU) continues to show positive dynamics. 

"The trade turnover between Armenia and the EAEU countries in January–November 2022 increased by more than 90 percent compared to the same period in 2021 and amounted to $4.6 billion," Pashinyan said.

The head of the Armenian government considered it necessary to continue consistent work in the Eurasian integration association, built on a solid foundation of internal capabilities and aimed at ensuring economic development, increasing national economies' competitiveness, and citizens' well-being.

"To achieve these goals, it is important to create comfortable conditions for business, work on removing obstacles, and increase cooperation in entrepreneurship. Of course, measures aimed at supporting producers at all stages of production still play a decisive role. In this context, I would like to emphasize the importance of the early development and adoption of legal acts aimed at applying the mechanisms of financial support for industrial cooperation projects that have integration potential. According to our estimates, the development of this area will allow manufacturers to focus their efforts on their own production in such sectors of the economy as mechanical engineering, radio electronics, aircraft manufacturing, software production, pharmaceuticals, and the medical industry," the Prime Minister listed.

According to him, the formation of a competitive industry in the EAEU is due to the goals of increasing technological independence and introducing new technologies.

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