Armenia has its own interests
By Messenger Staff
Friday, June 12Armenia will not be entering the trilateral customs union between Russia, Belarus and Kazakhstan as its specific economic structure and interests do not coincide with those pertaining in those countries. This was stated by Armenian Prime Minister Tigran Sarkisian after his return from a Moscow meeting of this union.
The customs union between the three countries should begin functioning on January 2010 when a unified customs tax tariff will be introduced in each one. A unified code of customs procedures will be implemented from July 1, 2011.
Explaining Armenia’s negative attitude towards participation in the union Sarkisian highlighted that in the participating countries high customs tariffs have been imposed to protect local entrepreneurs and their economies are based on heavy industry, metallurgy and similar activities. Armenia does not have such production potential and it would be unprofitable to importing the sort of products the customs union countries produce, meaning that setting high customs duties would limit the country’s trade potential.