05, 2015

Armenian President’s address at the session of the Supreme Eurasian Economic Council

Distinguished heads of states, I welcome you.

At the outset, I would like to thank Russian President Vladimir Putin for the warm welcome and the Russian partners for the excellent organization of the session of the Supreme Eurasian Economic Council.

This is our first official session for the current year, following the entry into force of the Treaty on the Eurasian Economic Union. I think it is very symbolic that it is taking place on the eve of the 70th jubilee of the Great Victory, a holiday which is nothing other than a symbol of the brotherhood which made a decisive contribution to the utter defeat of Fascism, a holiday which symbolizes the power of unity, justice, peace, and the power in the fight for international security.

Today, the legacy of the Great Victory provides a firm foundation for the deepening of brotherly ties between our peoples and for the promotion of mutually beneficial cooperation between our countries. I congratulate all of us on this wonderful jubilee.

Dear partners,

Since the beginning of the year, our countries’ economies have launched large-scale collaboration under new realities and conditions, in a common market with more than 170 million consumers, where we have necessary legal bases for the free movement of goods, services, capital and labor. Our efforts should be directed at increasing trade and investment flows, strengthening business ties, reinforcing the institutions of the Eurasian Economic Union (EAEU) and at achieving a higher level of economic integration as a final outcome. I am confident that the items on today’s agenda and our respective decisions will allow moving forward in this direction.
Today we will continue working towards Kyrgyzstan's membership in the Eurasian integration union. Armenia has completed the process of domestic coordination, which is required for the signing of the draft protocols agreed upon at the session of the Eurasian Intergovernmental Council convened in Moscow on February 6 2015.
The EAEU is becoming a key trade and economic unit which attracts many countries' interest, from Latin America to Asia. The steps aimed at bolstering trade and economic ties with different countries and the signing of cooperation agreements with them lead to the broadening of our common interests. In this regard, it is important to finish the preparatory works concerning the Freed Trade Agreement with Vietnam. I also deem it necessary to enlarge the geography of cooperation towards South, particularly through establishing closer ties with Iran. We also need to pay special attention to the introduction of large regional infrastructure projects linking the Southeastern Asia and the Persian Gulf to the EAEU countries.

In this context, indeed, there is unique potential for the establishment of mutually beneficial cooperation with BRICS countries, where Russia plays a key role. Availing myself of this opportunity, I would like to express my thanks to the Russian President for the invitation to take part in the meeting of the BRICS leaders and the EAEU and SCO heads of state and government.

The cooperation with China, one of the world's largest economies and our union's main trade partners, has huge potential and is of great importance to our states. Enhancing such cooperation will allow not only expanding our common market and attracting investments, but also joining realization of large infrastructure projects, thereby diversifying the logistic capabilities of our union.

Dear partners,

Under the influence of a number of unfavorable international and regional factors, our economic area is facing certain difficulties, and dealing with them requires making accurate decisions and bringing them to life effectively. Our states have reached a certain level of integration, and global economic trends necessitate elevation of our coordinating level. In this regard, it is crucial to approve the 2015-16 Draft on Main Macroeconomic Policy Guidelines for the EAEU States which will allow ensuring macroeconomic stability in our countries and will contribute to accelerating economic growth rates.

The creation of a common energy market lies at the forefront of our union's activities. Our states possess huge volumes of energy reserves and have high production capacity. It is necessary to use this comparative advantage to raise the EAEU's international competitiveness in the given sphere. The consistent realization of the concept for the establishment of an EAEU common energy market and the effective exploitation of that market will allow strengthening the EAEU's positions as a key player in the global energy market.

Another major direction of our joint activities is the stage-by-stage liberalization of services. Armenia has fully joined the list of the common services market, which was approved by the resolution of the SEEC on December 23 2014. International practice shows that liberalizing the goods market without liberalizing the services market in the course of the integration process does not allow exploiting the full potential of the given integration union. I think that this sphere should be in the focus of our attention.

Honorable heads of state,

A great deal of work has been done within the frame of EAEU activities. We hold that today we need to keep on moving forward at the same pace, strive to do better and carry out long-term projects. Pursuant to the treaty, in this regard an important function is assigned to the Eurasian Economic Commission which will form a new composition and will possibly introduce a new format on February 1 next year.

There is not much time left until the mentioned deadline. Hence, I suggest that we examine this issue for the next two to three months so that we can approve the composition of the commission and its chairman on the basis of the principle of rotation during the next summit.

Thank you for your attention.


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