Armenia's Economic Pulse

[Haykakan]

Meanwhile.. Turkey seeks negotiations with Eurasian Customs Union

August 19, 2017 - 13:41 AMT PanARMENIAN.Net - Turkey wants to start negotiations with the Eurasian Customs Union, which consists of members of the Eurasian Economic Union (EAEU), Economy Minister Nihat Zeybekci said on Friday, August 18, according to Anadolu Agency.
The EAEU consists of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
In recent years, Turkey has been stressing the importance of using local currencies in foreign trade with its neighbors and major trade partners like Russia, Iran and China to lower the currency conversion costs.
"Our target is to use national currencies in foreign trade. If we do that, we can eliminate the negative effects of foreign exchange volatilities," Zeybekci added.
http://www.panarmenian.net/eng/news/245714/

[Haykakan]

Some interesting developments regarding EEU.

PanArmenian Aug 19 2017


EAEU membership row between Armenia's RPA and Yelk continues

August 19, 2017 - 17:36 AMT
PanARMENIAN.Net - A spokesperson for the ruling Republican Party of Armenia, Eduard Sharmazanov has described talks on leaving the Eurasian Economic Union as "false agenda," RFE/RL Armenian Service reports.
Edmon Marukyan from the opposition Yelk bloc urged a month earlier the necessity to leave the Union.
Speaking to reporters after an RPA meeting on Thursday, August 17, Sharmazanov said that the Yelk bloc has offered no coordinated position on the issue.
Yelk lawmaker Lena Nazaryan said, however, that the bloc does have a coordinated position, which is expressed in their program unveiled ahead of elections to the National Assembly.
Nazaryan added that there might be different opinions concerning the right time for submitting a proposal to leave the EAEU.
http://www.panarmenian.net/eng/news/245725/

[DieHard69]

How much longer do you think Metsamor NPP can be kept running with the type of technology and fault lines it is sitting on?

As long as our mod wants it to be, they should really invest on thorium, even if it is at its infancy, much less deadlier if anything dangerous happens.

[HyeSocialist]

If solar energy reaches the same efficiency as nuclear power (if not more) all of our energy problems will be fixed, as I stated, we should not close down our nuclear power plant yet, Thorium should be kept a close eye on, it has great potential.

How much longer do you think Metsamor NPP can be kept running with the type of technology and fault lines it is sitting on?

[DieHard69]

Positive news from our Hye comrades in the Kremlin. The Investors Club in Armenia is financing some big hydroelectric projects in Armenia, and the payback periods seem justified and not extortionary.

http://investorsclub.am/en/projects

Hydroelectric and Waste to Energy are solid investments because they are indigenous to our land! I hope to see this level of enthusiasm also in Solar energy. Bravo!

If solar energy reaches the same efficiency as nuclear power (if not more) all of our energy problems will be fixed, as I stated, we should not close down our nuclear power plant yet, Thorium should be kept a close eye on, it has great potential.

[HyeSocialist]

Positive news from our Hye comrades in the Kremlin. The Investors Club in Armenia is financing some big hydroelectric projects in Armenia, and the payback periods seem justified and not extortionary.

http://investorsclub.am/en/projects

Hydroelectric and Waste to Energy are solid investments because they are indigenous to our land! I hope to see this level of enthusiasm also in Solar energy. Bravo!

[HyeSocialist]

China building new embassy in Armenia. May Armenia be a window to the East for the West, and a window to the West for the East. There might even be new air travel linking Armenia and China.

We need to have a better investment climate for non-Russian businesses (again, this is not an anti-Russian statement, this is a pro business statement), so we can have favorable relations with the Chinese, the Indians, the Russians, the EU, and US.

http://asbarez.com/165454/china-breaks-ground-on-new-embassy-in-yerevan/

http://www.panorama.am/en/news/2017/08/10/Armenia-China-look-to-launch-direct-air-flights/1818660

[HyeSocialist]

Indeed, this is the best moment for our country to trade with other countries, it has no choice either, Russia's economy is going in the ground and people will get more pissy about it.

Honestly it's not like we should prefer anything over the other. Its just that the EU and the US are big economies and making products for those markets means you pretty much qualify to sell in Latin America and India. They have higher engineering standards, and it only makes sense. Plus, small countries benefit the most from globalization because we can access big markets without causing much threat to bigger economies. We should trade with the world, not just sell tomatoes to Russia.

[DieHard69]

So... we all knew this was coming. Why is he upset? Sounds like more of a reason to gear up your economy to work closer with the EU, US, India, and China. Russia can stay a political friend, but they have no idea how to run an economy...unless they're running it into the ground.

Indeed, this is the best moment for our country to trade with other countries, it has no choice either, Russia's economy is going in the ground and people will get more pissy about it.

[HyeSocialist]

Anti-Russia sanctions signal serious losses for Armenia’s economy - opinion

13:58 • 31.07.17

The United States’ recently adopted sanctions against Russia will economically have a serious influence also on Armenia whose imports and exports are largely related that country, according to an economist.

At a news conference on Monday, Vilen Khachatryan noted that 22% of Armenia’s exports go to Russia whose economy is now facing the major challenge. “What we see here is our number one ally facing sanctions. Also, most of Armenia’s imports - which are not limited to Russian goods – come from Russia. That’s an [economic] blow too, as it implies a rise in the prices of products,” he noted.

As another major concern, Khachatryan highlighted the possible losses for the Armenian employment migrants now residing in the country. Noting that layoffs first of all affect foreign nationals, the economist said he expects their return to Armenia to later have also its societal impact.
http://www.tert.am/en/news/2017/07/31/vilen-hakobyan/2445837

So... we all knew this was coming. Why is he upset? Sounds like more of a reason to gear up your economy to work closer with the EU, US, India, and China. Russia can stay a political friend, but they have no idea how to run an economy...unless they're running it into the ground.