Armenia not planning to withdraw from EAEU - minister

YEREVAN. Jan 13 (Interfax) - The Armenian government is not considering Yerevan's withdrawal from the Eurasian Economic Union (EAEU), Armenian Economy Minister Gevorg Papoyan said.

"Armenia is member of the EAEU. The withdrawal from the EAEU is not currently on the agenda of the Armenian government," Papoyan said at a press conference on Monday.

"The agenda of Armenia's membership in the EU is a parallel agenda. Our task is not to discuss these agendas but to boost the competitiveness of our economy. It does not matter whether Armenia is part of the EU, the EAEU or anything else. Our economy must increase its competitiveness and our productivity must grow," Papoyan said.

In turn, Armenian Finance Minister Vahe Hovhannisyan said that Yerevan was evaluating the risks of possible withdrawal from the EAEU. "We have various estimates and we evaluate every risk, including in this area. There are plenty of risks," he said.

Hovhannisyan said the Armenian Finance Ministry is considering various scenarios. "This our job. Withdrawal from the EAEU will be fraught with risks, if it happens now," he said.

The Armenian government approved a bill on Armenia's accession to the EU on January 9. The bill will launch the accession process. According to Armenian Prime Minister Nikol Pashinyan, a decision on entering into the EU must be made at a nationwide referendum.

Russian Deputy Prime Minister Alexei Overchuk said later that Armenia's discussion of a bill on launching the EU accession process could be viewed as the beginning of its withdrawal from the EAEU. While commenting on the Armenian government's decision, Overchuk said that the EU and the EAEU are incompatible, in particular, as both imply absence of customs borders and free flows of goods, services, capital and workforce.