VIDEO: The process of forming a common market for energy resources has been significantly delayed, says Nikol Pashinyan

Prime Minister Nikol Pashinyan presided over the regular meeting of the Eurasian Economic High Council in Moscow at the Kremlin. In addition to the leaders of the EAEU countries, the presidents of Uzbekistan and Cuba, who hold observer status in the EAEU, also participated.

Initially, a narrow-format meeting took place, followed by a photo session with the leaders of the states.

During the expanded meeting, Prime Minister Pashinyan delivered a speech in which he particularly noted: "Esteemed leaders of delegations, dear participants of the meeting, I am pleased to welcome you to the first meeting of the Eurasian Economic High Council this year. First, I would like to thank the Russian side for organizing today’s meeting at a high level. I am also happy to welcome the leaders of the observer countries in the EAEU and invited guests.

As we mentioned during the narrow-format discussion, today’s meeting coincides with the tenth anniversary of the signing of the EAEU agreement on May 29, 2014, in Astana. Throughout its ten years of existence, the Eurasian Economic Union has become a significant platform for close and economic interaction between member countries.

It is clear that the regulatory framework of the EAEU is still being formed, and the completion of this process is not yet near. It is important that it is developed within the framework of economic logic. Only by respecting the interests of partner countries and seeking constructive solutions that align with the interests of each member state can we maintain the effectiveness of the union’s activities. We find it necessary to focus our efforts considering the national priorities of socio-economic development.

Our cooperation should operate in favor of our citizens and businesses, enhancing their well-being and modernizing national economies.

Dear participants of the meeting, esteemed colleagues, returning to the core agenda items, I must emphasize that the process of forming a common market through unified regulatory systems in the energy resources sector has been significantly delayed. The Armenian side approaches the potential reconsideration of the deadlines for the implementation of unfulfilled measures with understanding; however, it believes that this process cannot continue indefinitely and should be completed within reasonable timeframes.

We have repeatedly stated that the Republic of Armenia is ready for constructive dialogue to achieve a swift consensus on unresolved issues and to launch the common electricity market of the EAEU in a timely manner. We particularly emphasize the importance of creating a legal framework that ensures the trade and economic interests of entrepreneurs from member states in global trade. In this regard, we consider the signing of the memorandum on electronic information exchange between EAEU member countries and Vietnam to be important, as it will increase the volume of mutual trade between partner countries.

The Armenian side also supports the adoption of a package of documents aimed at starting negotiations with one of our partners in Asia, Mongolia. Certainly, the signing of a temporary trade agreement will create new opportunities for expanding trade and economic cooperation.

Dear colleagues, the development of transport infrastructure will additionally spur the growth of trade turnover between our countries. In this context, I would like to reiterate the Armenian government’s initiative, the “Peace Crossroads” project, which aims to create the necessary logistical conditions for the development of trade and economic relations between all interested states based on full respect for the sovereignty and jurisdiction of states, equality, and reciprocity.

In conclusion, I would like to emphasize that the Armenian side consistently advocates for the preservation of the fundamental principles underlying the agreement of the EAEU and expresses its readiness for active cooperation with all member countries for the further development of the selected paradigm of economic cooperation. Thank you for your attention.