Russia is our key market and a major trade partner, Armenian President Serzh Sargsyan says in an interview with DW, when asked why Armenia preferred the Eurasian Economic Union (EEU) to the prospect of EU associate membership.
He says that Russia has never exerted pressure on Armenia to include the latter in the EEU. "We were guided by economic expediency. Russia is our key market and our major trade partner. We receive all energy resources and other resources from Russia. Russia offered us favorable conditions within the EEU, providing a 30% discount for its goods," the President says, noting that his principle is to take decisions that can be put into effect.
As regards the cooperation with the European Union, Sargsyan says that a new process of negotiations was launched in December 2015. "We have already passed two phases of that process. Finally, we will also sign a document with the EU," he says.
To note, on October 12, 2015, in Luxembourg, the Council authorized the European Commission and the High Representative to open negotiations on a new, legally binding and overarching agreement with Armenia, and adopted the corresponding negotiating mandate. This agreement will replace the current EU-Armenia partnership and cooperation agreement. The EU is committed to further develop and strengthen comprehensive cooperation with Armenia in all areas of mutual interest within the Eastern Partnership framework.
On January 2, 2015, Armenia became a full member of the Eurasian Economic Union.