Armenia to sign document on joining Common Economic Space in late May

Photo: Armenia to sign document on joining Common Economic Space in late May / Armenia

Armenia will sign the document on joining the Common Economic Space in late May, Artak Zakaryan, the chairman of the country's parliamentary committee on foreign affairs, MP from the ruling Republican Party said on May 7.

The Common Economic Space is being created on the basis of the Customs Union.

Zakaryan pointed out that after signing the document and successful completion of the internal processes, Armenia will become a founding member of the Common Economic Space, the country's Mediamax news agency reported.

"The process of Armenia's accession to the Customs Union proceeds normally, without delays. There are interstate issued related to juxtaposition of economic relations with other countries," the MP stressed.

Armenia's accession to the Common Economic Space will create a more favorable economic environment, get access to new markets, and establish trade relations without duties, according to Zakaryan.

The MP underscored that Armenia's accession to the Customs Union will not restrict the country's trade with third countries.

"Armenia is preparing to join an economic union, but not a political one. The issues related to economic, energy and food security are the basis of the decision to join this union. But this decision doesn't imply restrictions on making independent decisions. We will continue to establish relations with third countries in the way we have done so far," the MP said.

He underscored that Yerevan is interested in continuing and intensifying the cooperation with EU in humanitarian and cultural spheres, as well as in the sphere of democracy and reforms.

Zakaryan went on to add that there has already been created a working group for studying the prospects for the future sectoral cooperation with EU.

Translated by L.Z.

Edited by C.N.

Follow us on Twitter @TRENDNewsAgency