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V. Hambardzumyan

Armenia and EAEU

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On April 30, a meeting of the EEU Intergovernmental Council starts in Yerevan. As it is known, in 2019, Armenia assumed the chairmanship of the EEU, and therefore another regular meeting is held in the Armenian capital.

The prime ministers of Russia, Belarus, Kazakhstan and Kyrgyzstan will arrive in Yerevan to attend the meeting. It should be noted that, as a rule, meetings of such a format are quite practical, they discuss a number of issues related to the strengthening and development of the structure.

One of the key issues discussed at the summits of the prime ministers is the free movement of goods and capital, this is one of the main ideas for creating the EEU. However, this principle is often violated, which leads to tensions between the EAEU member states.

One of the main topics to be discussed at the Yerevan summit will be the issue of creating a common electricity market in the middle of the year. This is the most important initiative for the creation of a single energy market, and it is clear there are both risks and opportunities to create a single integrated system.

Many experts believe the overall electricity market can lead to the fact that production of relatively expensive electricity produced in Armenia can be reduced. This is only a small part of the problems.

After the creation of a common energy market, in 2021, a single gas system is to be created across the EEU. Here as well, a number of questions arise: whether the common market will lead to reduction of gas prices, will it be possible to buy and sell in Russian rubles or we will continue to calculate the interstate commodity circulation in USD?

It is also known that the Yerevan Summit will discuss issues related to the implementation of joint projects in the field of production, technology transfer and other issues. The goal of this kind of agenda is to provide small and medium-sized businesses involvement in major, technology-based businesses.

The summit is also a good opportunity for the Armenian side to discuss the price of gas supplied to Armenia with RF Prime Minister Dmitry Medvedev. As it is known, negotiations on this issue have not yet yielded results, so it is not excluded that the price of gas will rise again next year. So, this opportunity should be used to record progress in the negotiation process.

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