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Armenia records increase in exports

Xinhua, November 18, 2016 Adjust font size:

Armenian President Serzh Sargsyan said his country had doubled its exports, including those to countries of the Eurasian Economic Union (EEU), in an interview with Sputnik Armenia On Thursday.

Sargsyan said it was unfortunate that Armenia's accession to the EEU coincided with the imposing of sanctions against Russia, the main economic driving force the economic bloc. This created hassles for the Armenian economy due to the fact of it being "tied in a thousand ways to the economy of Russia."

President Sargsyan, however, insisted his country had made the right choice joining EEU. "We have become a member of a market of 170 million people, and if we are able to reach the objectives of the EEU, which are free circulation of goods, services, labor, and capital, then we will benefit from this greatly," added Sargsyan.

Armenia joined the Eurasian Economic Union on January 2, 2015. The country had been negotiating an Association Agreement with the European Union for over 3 years before making a sudden U-turn when during his visit to Moscow in September of 2013, President Sargsyan announced his country was instead going to join the Russia-led economic bloc. Enditem.