Armenia wants common EAEU markets for gas, oil and oil products

Armenia wants common EAEU markets for gas, oil and oil products

August 20, 2021 – 13:04 AMT

PanARMENIAN.Net – The creation of a regulatory framework for common markets for gas, oil and oil products within the Eurasian Economic Union (EAEU) is one of the key components of the development of the integration association, Armenian Prime Minister Nikol Pashinyan told a meeting of the Eurasian Intergovernmental Council in Cholpon-Ata, Kyrgyzstan on Friday, August 20.

“We are convinced that one of the key components of the effective development of the union is consistent and transparent work aimed at creating a regulatory framework for common markets for gas, oil and oil products. The efficient use of the Union’s energy potential can become the answer to many challenges, boosting energy security and sustainable development of the economies of our countries,” Pashinyan said.

“Armenia is satisfied with the significant work done by the Eurasian Economic Commission and the authorized bodies of the EAEU member states in the formation of common markets for gas, oil and oil products of the union. We look forward to continuing constructive work based on mutual understanding and taking into account the interests of all EAEU member states.”

Pashinyan noted the importance of implementing the roadmap for the formation of a common market for organic agricultural produce, as well as cooperation to reduce the negative factors affecting climate change.

“The next issue I would like to dwell on is the increasing the competitiveness of products manufactured in the EAEU in domestic and foreign markets. I want to emphasize the importance of forming a system of joint insurance support for exports. We support the creation of a Eurasian company, which will increase the volume of insurance support for trade within the Union and exports to third countries by creating additional insurance capacity,” the Armenian PM noted.

The heads of government of the EAEU member states also discussed a number of issues on the table. A decision was made to hold the next meeting of the Eurasian Intergovernmental Council in October this year in Yerevan.

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