MOSCOW, October 10 (RIA Novosti) — Armenia's accession to the EEU will launch a new phase of integration in the Eurasian region, the country's President Serzh Sargsyan said on Friday at a meeting of the Supreme Eurasian Economic Council in Minsk.
"We will do everything possible for Armenia, with its expertise and competitive advantages, including by continuing institutional and structural reforms, to contribute to the strengthening of the Eurasian space," the head of the Armenian state said.
As Sargsyan stated, the negotiation process was not easy, but thanks to political will, a professional approach and a willingness to seek the best possible solutions the decision was made in a relatively short period of time and the interests of all parties involved were taken into account.
According to him, Armenia considers the EEU to be the basic format of the most predictable and profitable relations for the participants of the association based on the principles of the free flow of goods, services, capital and labor.
On Friday the leaders of the EEU signed an agreement on Armenia's accession to the Eurasian Economic Union Treaty.
Russia, Belarus and Kazakhstan signed the treaty in May and have already ratified the document, which is expected to come in force in 2015. The republics of Kyrgyzstan and Tajikistan have also expressed interest in joining the organization.
The union is aimed at increasing economic cooperation among its member countries. Under the treaty, member countries agree to guarantee the free flow of goods, services, capital and labor, and to implement a coordinated policy in the energy, industrial, agricultural and transport sectors.
