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Eurasian Business Briefing Armenia

EEU doomed, predicts Bzhezinsky

Zbignev BzhezinskyThe Eurasian Economic Union (EEU) will be dead and buried within in ten years or as soon as Russia accepts that it is a a European state, Zbignev Bzhezinsky predicted this week. In an interview with the daily Gazeta, (more…)

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Russian defence chief visits Baku to sort out payment for Azeri arms deal

Deputy Prime Minister Dmitry RogozinAzeri arms deal: Dmitry Rogozin, the Deputy Prime Minister of Russia with responsibility for its defence industry last week made an unexpected visit to Baku to find out why President Ilham Aliyev’s government is refusing to pay for a shipment of weapons that it ordered several years ago, but which is now sitting in port waiting for payment. 
The shipment (more…)

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Armenia signs trade deal with the US, just months after joining EEU

YerevanIn a sign that Armenia may be regretting joining the Russian-led Eurasian Economic Union, its government has entered into a Trade and Investment Framework Agreement (TIFA) with the US. Signed in Washington on May 7, the objective of the deal is to create “favourable conditions for investments and trade between the two countries”, and an Armenian-American Council of Trade and Investment will be set up to work on ways to implement the goals outlined in the pact. The US only accounted 4.6% of Armenia’s foreign trade last year, prompting some Armenian analysts to see this as a political move rather then an economic one; Russia currently controls large swathes of the country’s energy, telecommunications and mining sectors and Yerevan acknowledged its economic dependency on its giant neighbour by joining the Eurasian Economic Union (EEU) at the beginning of the year. 

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Central Asian economies slowing down, IMF predicts

IMFCentral Asian economies: The IMF today corroborated concerns voiced by the EBRD earlier this week that a combination of Russia’s economic slowdown and low oil prices were hampering growth across Eurasia. In its latest regional outlook report it is predicting that the average growth in the eight former Soviet states of Azerbaijan, Kazakhstan, Turkmenistan, Uzbekistan, Armenia, Georgia, Kyrgyzstan and Tajikistan would slow down to 3.2% this year from 5.3% in 2014.

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Armenia joins Eurasian Economic Union

EEUArmenia joins Eurasian Economic Union: On January 2 2015, Armenia was officially admitted into the Eurasian Economic Union after the President of Belarus Alexander Lukashenko signed the law ratifying her accession on New Year’s Eve. The  Eurasian Economic Union, which establishes a trade bloc between Russia, Belarus and Kazakhstan, officially came into into force on the first day of 2015. Rosbalt 
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Armenian EEU membership ratified by Duma

ArmeniaArmenian EEU membership:  The lower house of Russia’s parliament today ratified the treaty clearing the way for Armenia to join the Eurasian Economic Union (EEU). The new organisation, which will officially come into existence on January 1 2015, is intended to be an integrated trading bloc consisting of the current members of the Customs Union (Russia, Belarus and Kazakhstan) and a number of other Central Asian states. ITAR-TASS   Read More»

Russian airbases planned for Belarus and Central Asia

Russian airbases: As Moscow moves to bolster its military presence in some former Soviet states, the head of the Russian air force yesterday announced that Russia was planning to establish an airbase for fighter jets in eastern Belarus by 2016. Colonel General Viktor Bondarev also said that the air force was intending to increase its presence in Armenia and Kyrgyzstan. The Moscow Times Read More»

Armenian EEU accession agreement to be signed by November

Armenian EEU accession agreement: The agreement that will enable Armenia to join the Eurasian Economic Union is to be signed before the end of October, according its Prime Minister Hovik Abrahamyan. The signing will take place at a meeting of EEU Heads of State in Minsk. MK 

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Armenia to join EEU

Armenia: Armenian President Serzh Sargsyan told the Supreme Eurasian Economic Council in Astana today that his country intends to become a party to an agreement on the establishment of the Eurasian Economic Union on June 15.  Kommersant Read More»

Armenia and Customs Union edge closer

Armenia and Customs Union: The Russian and Armenian Presidents Vladimir Putin and Serzh Sargsyan met in Moscow this week to discuss Armenia’s accession to the Customs Union with Russia, Belarus and Kazakhstan. After the talks Armenia’s Foreign Minister Edward Nalbandian said that he hoped to be able to sign an agreement in May. ITAR-TASS Read More»