ArmInfo. Armenia's current economic model is highly problematic, according to Robert Kocharyan, the second president of the Republic of Armenia.
In his podcast, the second president of the Republic of Armenia pointed out that Armenia's economic performance has been improving since 2022, that is, since the beginning of the Russian-Ukrainian war. However, once the conflict ends and sanctions against Russia are lifted or eased, Armenia will face serious issues. The country's current authorities, as Robert Kocharyan noted, are not even attempting to deeply study these potential risks to the country's economy or to understand their true scale. Armenia will undoubtedly face this challenge in the next five years. To develop its economy, a country must develop its own industry and produce goods competitive in foreign markets.
"The state's foreign policy should not conflict with its economic policy, which is not the case in reality. On one hand, there are statements about intentions to join the European Union, with which trade turnover accounts for just over 7%, while on the other hand, relations with Russia are deteriorating. The Armenian government's policy today practically resembles a split, and this is at a time when the country's trade turnover with the Russian Federation exceeds 35%," Robert Kocharyan noted.
He added that Armenia's economic successes largely depend on the Eurasian Economic Union market, with 90% of all Armenian exports going to Russia. The second president of Armenia pointed out the dangers posed by the current government's foreign policy, which fails to take this into account. "If you don't do this, then you are economically ignorant, because you don't understand the consequences this could lead to. It is very clearly stated that the EAEU is incompatible with the EU. Now you are considering an organization that gives you nothing economically, but welcomes your political statements and pushes you toward anti- Russian actions. This policy threatens your economic interests, which in itself is a very serious issue, since Russia's economic contribution to Armenia cannot be underestimated," Robert Kocharyan said, pointing to the re-export of both Russian goods to other countries and third-country re-exports to Russia through Armenia, specifically, cell phones from the UAE to Russia. He also drew attention to the flow of tourists, the overwhelming majority of whom are citizens of the Russian Federation.
In this situation, as the former president emphasized, the only opportunity for the country's development should be the "Work with Russia, and spend on acquiring new technologies in the EU". The second president also pointed out that 70% of Armenian citizens are tied to Russia, while the European market is practically closed.
