Accession of the republic of armenia to the customs union and eurasian economic union the influence and prospects

The article analyzes the integration process of the Republic of Armenia into the Eurasian Customs Union, its impact on the politics and economy of the Republic of Armenia as a whole, and on the decision of Armenia’s accession to the Eurasian Economic Union. It analyzes the number of economic benefits, that the Republic of Armenia received after accession, in particular: the opportunity to increase GDP growth rates; access to a large and secure common market; inflow of investments into export-oriented sectors of the economy of Armenia; a possibility to strategically develop the energy system. As a result of the analysis, the author came to the conclusion that under the current conditions, the benefits gained from the accession provide ample opportunities for the economic growth in the Republic of Armenia. In particular, due to investments, such issues as limited transport corridors linking Armenia with the neighboring countries, construction of a railway to Iran, opening of the Armenia - Georgia - Russia railway can be resolved. It also touches upon the importance of building a new nuclear power plant, which will make the country less dependent on external energy supplies.

Eurasian Customs Union, Eurasian Development Bank, Gross Domestic Product, regression model, World Trade Organization, neofunctional approach, Customs Union, Eurasian Economic Union, Armenia, Eurasian Customs Union, Eurasian Development Bank, Gross Domestic Product, regression model, World Trade Organization, neofunctional approach, Customs Union, Eurasian Economic Union, Armenia, Eurasian Customs Union, Eurasian Development Bank, Gross Domestic Product, regression model, World Trade Organization, neofunctional approach, Customs Union, Eurasian Economic Union, Armenia

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