Armenia is a member of the EAEU and will continue working from that perspective, acting Deputy Economy Minister Narek Hovakimyan said, while also emphasizing the importance of diversification.
He made the remarks while presenting to the National Assembly a bill to ratify the EAEU-Indonesia free trade agreement, noting that it would eliminate or gradually reduce customs duties on a number of goods exported from Armenia to Indonesia, Sputnik Armenia reported.
Agnesa Khamoyan, an MP from the Hayastan parliamentary faction, asked what consequences Armenia’s economy could face if the country left or were removed from the EAEU, and what economic alternative would exist in such a scenario.
“Tell us clearly: what will happen to Armenia’s economy if Armenia leaves or is removed from the EAEU? What is the alternative, and how many years would it take for the European market to replace it?” Khamoyan asked.
The MP also recalled the decline in export volumes and asked, in particular, to what extent the Indonesian market could replace existing markets.
“Exports, if I am not mistaken, have declined by 7%. What percentage could the Indonesian market replace?” the opposition MP said, urging officials not to resort to “routine phrases.”
Hovakimyan replied that Armenia is an EAEU member and makes the fullest possible use of mechanisms available within the union. According to him, efforts are also being made to find solutions through EAEU procedures to emerging obstacles, including Russian restrictions on certain Armenian products.
At the same time, the deputy minister emphasized the importance of diversifying Armenia’s economic ties.
“There is no alternative to diversification. Although, yes, risk scenarios must be discussed, at this point the Economy Ministry and the government have established that we are an EAEU member and will continue working from that perspective,” Hovakimyan said.
National Assembly Speaker Ruben Rubinyan intervened in the discussion, responding to the wording about Armenia potentially being removed from the EAEU.
“It is impossible to remove Armenia from the EAEU; no such mechanism exists,” Rubinyan said.
The free trade agreement between the Eurasian Economic Union and its member states and Indonesia was signed in St. Petersburg on Dec. 21, 2025.
Armenian Prime Minister Nikol Pashinyan and Russian President Vladimir Putin met in Bishkek. Putin said Armenia’s aspiration toward the EU is a natural and legitimate right of the country and its people, that Armenia is a sovereign state and the Armenian people will determine the direction of its development. However, he said this creates difficulties regarding membership in the Eurasian Economic Union and threatens to eliminate Armenia’s advantages in the EAEU market and disrupt established trade chains.
