Armenia Assumes Presidency of EAEU Bodies; Pashinyan Addresses EAEU Leaders

As of January 1, 2024, the Republic of Armenia has assumed the presidency of the bodies of the Eurasian Economic Union (EAEU). In this regard, Armenian Prime Minister Nikol Pashinyan sent a message to the leaders of EAEU member states.

He emphasized that only through joint efforts can the member countries create a more sustainable model of economic collaboration for future generations, one that is not tied to political or geopolitical shifts.

“The current instability of the global economy necessitates a reevaluation of the principles and tools of economic cooperation. In this environment, we must exert all efforts to ensure the full functioning of the EAEU, based on the interests of our countries' citizens and businesses. In the year of Armenia’s presidency in the EAEU, I specifically want to draw attention to the need to address a number of important issues for the EAEU,” said Pashinyan, highlighting the significance of ensuring energy security, accelerated formation of common electricity and energy resource markets on a non-discriminatory operational basis, ensuring food security within the EAEU, and the development and modernization of transport infrastructures, as well as improving customs procedures and creating efficient logistics chains.

“We must maximize the use of transit potential and the geographical advantages of the EAEU to access external markets, which are currently underutilized by member countries. Additional efforts are required for the development of Eurasian transport infrastructure and the export of goods to third countries, maximizing the potential of relations with international organizations and development institutions,” he added.

In this context, the successful implementation of the “Peace Interchange” initiative proposed by the Republic of Armenia will play a significant role in achieving the objectives related to ensuring transit traffic along Eurasian international transport routes. “The Peace Interchange can connect the countries of our region through roads, railways, cables, gas pipelines, and electricity transmission lines,” stated Pashinyan in his address.

It is noteworthy that Armenia has taken over the presidency of the Eurasian Economic Union bodies as of January 1, 2024. Throughout the year, Armenia will preside over the Supreme Eurasian Economic Council, the Eurasian Intergovernmental Council, and the Council of the Eurasian Economic Commission.