Report: Suspension of Armenia's participation in the EAEU will worsen its trade turnover by 55%

Suspending participation in the EAEU will lead to a deterioration of Armenia's economic indicators, including a decrease of more than 55% in Armenia's total trade turnover with the EAEU member states, according to a report by the Eurasian Intergovernmental Council.

Members of the Intergovernmental Council from Russia, Belarus, Kazakhstan and Kyrgyzstan presented a report on the possible consequences of suspending the Treaty on the Eurasian Economic Union with respect to Armenia.

"According to forecast estimates, the suspension of participation in the EAEU will lead to a deterioration of the economic indicators of the Republic of Armenia. Armenia's total trade turnover with the EAEU member states will decrease by more than 55% – exports of goods from Armenia to the EAEU member states will decline by more than 65%, while imports of goods from the EAEU member states will be cut by almost half," the document says.

It is noted that trade in services with the EAEU states will also decline – the total reduction in the turnover of services is projected at 37.7%.

In March 2025, Armenia's parliament adopted a law on launching the process of the republic's accession to the European Union. The Russian side has noted that being in a customs union with both the EU and the EAEU is impossible.

During talks with Armenian Prime Minister Nikol Pashinyan in early September, Russian President Vladimir Putin commented on the republic's intention to join the EU, noting that the adoption of the law on launching the EU accession procedure means a declaration of withdrawal from the EAEU. Russia believes that a referendum on this issue should be held in Armenia as soon as possible.

Source: Yerevan.today