1 / 3

The Parliament debated the draft law on ratifying the protocol on making amendments to the Contract on the Eurasian Economic Union of May 29, 2014 regarding the provision of financial support by the member states of the Eurasian Economic Union (EEU) during the implementation of the joint cooperative projects in the industry.

The Acting RA Deputy Minister of Economy Narek Teryan informed that the document was signed by the Supreme Eurasian Economic Council in 2023.

The purpose of the amendment is to create a new toolkit of financial support for the implementation of cooperative projects in the fields of industry within the framework of the Eurasian Economic Union. It is planned to promote mutually beneficial cooperative projects within the EEU framework through industrial cooperative, to create high-tech, innovative and competitive products, to provide financial support from the EEU budget for joint cooperative projects in the branches of industry by the EEU member states.

Narek Teryan noted that cooperative and joint cooperative projects will be considered the ones in which three or more states will participate. The amount of support will be about 20-22 million USD. The maximum amount of annual subsidy for one project cannot exceed about 3.8 million USD.

The deputy of the RA NA Civil Contract Faction Sisak Gabrielyan expressed concern that the EEU market is closed for the local dairy producers. In response, Narek Teryan mentioned that the EEU market is not closed for the Armenian producer: “It is not forbidden to export the Armenian dairy products to the EEU market. The Armenian producers, who are included in the register of bilateral producers, export their products to the EEU market.” According to Narek Teryan, there are problems that the Ministry is trying to solve.

The co-rapporteur Aleksey Sandikov informed that the draft law was debated in the Standing (Head) Committee on Regional and Eurasian Integration and was endorsed. He called on his colleagues to vote for the initiative.

The draft law was debated at the sitting of the National Assembly on February 27.