ArmInfo. From January to August 2023, Armenia's trade turnover with the CIS countries increased by almost 55% compared to last year. At the same time, exports from Armenia more than doubled. RA Deputy Prime Minister Mher Grigoryan stated at a meeting of the Council of Heads of Government of the CIS and the Eurasian Intergovernmental Council on October 26 in Bishkek.
"Armenia intends to continue to use all the tools in order to maintain this positive dynamics in mutual trade with member states of the EAEU and the Commonwealth," he noted.
Grigoryan also noted that the Armenian side supports the adoption of an updated set of measures to implement the agreement on cooperation in the mining and metallurgical industry. "The development of intersectoral cooperation to ensure sustainable development and deepen cooperation in this direction is also important," he added.
At the same time, as the Armenian Deputy Prime Minister noted, within the framework of the formation of the common energy market of the EAEU, not all agreements are implemented in full. Despite the complexity of the process, which involves consideration of the various energy interests of the Union countries, Grigoryan noted the urgent need to achieve fundamental decisions for the member states to agree on an international agreement on the formation of a common gas market and its subsequent signing.
"In this context, the Armenian side is ready for dialogue to quickly resolve outstanding issues," he added.
It was previously reported that the common electricity market of the EAEU should begin operating no later than January 1, 2025, with the rules for its functioning coming into force. It was noted that this will be a cross-border trade market where all wholesale producers and consumers of electricity from the EAEU states will be able to enter into transactions. The trade will be carried out both by the exploitative method today, with free bilateral contracts, and by centralized trade, using exchange mechanisms. It is centralized trade that will ensure the development of market mechanisms and transparent pricing for electricity. The principles of formation include, among other things, cooperation on the basis of equality, mutual benefit and non-infliction of economic damage to any of the member states, maintaining a balance of economic interests of producers and consumers of electric energy, as well as other subjects of the common electric power market of the EAEU, considering the features of existing models of national electric power markets.
