Armenia navigates European integration while staying in the Eurasian bloc

Armenia’s government has no plans to withdraw from the Eurasian Economic Union (EEU) while simultaneously pursuing European Union (EU) membership, according to the country’s Minister of Economy Gevorg Papoyan, as reported by the Interfax news agency.

«Armenia is a member of the EEU, and withdrawal from the EEU is not currently on the agenda of the Armenian government,» Papoyan stated during a recent press conference.

He noted that discussions about EU membership are part of a «parallel agenda.» Armenia, he explained, seeks to become a country whose economic stability is interconnected with the economies of other nations, as this would help guarantee its security.

«Our focus is not on debating these agendas but on boosting the competitiveness of our economy. Whether Armenia is part of the EU, the EEU or anything else, it doesn’t matter. Our economy must grow more competitive and our productivity must increase,» the minister stressed.

In turn, Armenia’s Minister of Finance Vahe Hovhannisyan acknowledged that the cabinet is currently assessing the risks associated with a potential exit from the EEU.

«We have various estimates and are carefully evaluating all the risks, including those related to this matter. There are numerous risks… Withdrawal from the EEU, if it were to happen now, would entail risks,» Hovhannisyan said.

On Jan. 9, Kursiv.media reported that the Armenian cabinet approved a draft law initiating the process for the country’s accession to the EU. The draft was subsequently submitted to parliament for consideration.

In response, the Kremlin remarked that while Armenia has the sovereign right to pursue such actions, it highlighted that the country cannot simultaneously be a member of two different international organizations.