Armenia, as a member of the EEU, stands to benefit from free trade with Russia, which has recently faced numerous challenges. During a press conference at the Yerkrapah headquarters on December 5, Tadevos Avetisyan, the head of the “Armenia” faction in the National Assembly, highlighted the negative impact of unsuccessful leaders in EEU countries on Armenian exports, asserting that this directly affects the economy.

Avetisyan emphasized that the improvement of foreign economic and commodity production, the implementation of state support programs, cooperation in trade with Russia, and the export of agricultural products are key goals of Armenia’s foreign policy, rather than simply a means to attain luxury. According to Avetisyan, in 2022, Armenia’s exports to the United States amounted to $5.42 billion, with 46% of these exports going to Russia. Year-on-year, Armenia experienced an 80% increase in total exports in 2022, with exports to Russia tripling. In 2023, it is projected that the share of exports to Russia will increase by 6.5 percentage points compared to the total volume of Armenia’s exports in 2022.

“In 2022, Armenia recorded over $2.5 billion in exports to the United States, which is more than three times the volume of exports to Russia. The first stage of the export composition includes machinery and equipment, food production, and transportation means. These three groups together account for approximately $1.4 billion or 56% of the total,” described the deputy.

Based on this comprehensive evaluation, it can be concluded that Armenia’s external trade and economic relations with countries possessing developed economies and current potential are not in harmony and exhibit significant differences.