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15 August 2025 - 09:23 AMT

Аrmenia prioritizes formation of EAEU energy markets

Deputy Prime Minister Mher Grigoryan, speaking at the Eurasian Economic Union (EAEU) Intergovernmental Council meeting in Cholpon-Ata, Kyrgyzstan, stated that forming common energy markets within the union is a top priority for Armenia, along with strengthening energy security.

“The accelerated establishment of unified energy carrier markets, based on non-discriminatory principles, should become one of the pillars for ensuring equal economic conditions for all EAEU member states,” he said, according to Sputnik Armenia.

Grigoryan also emphasized the importance of cooperation between customs bodies and commissions of EAEU countries, highlighting that effective monitoring of highly taxed goods helps boost national revenues across the union.

He further noted that the implementation of the EAEU digital agenda is a crucial driver for Armenia’s stable economic growth. In his view, today’s challenges require not only institutional modernization but also the adoption of advanced technological solutions.

“Artificial intelligence and digital technologies are becoming key resources for forming new, more efficient models of interaction in both economic and public governance,” Grigoryan noted.

To enhance business efficiency and develop unified digital platforms across the EAEU, he called for coordinated work on improving electronic governance systems and ensuring cybersecurity.

He also underscored the importance of transport and logistics in economic cooperation. Diversifying transport infrastructure, he said, will stimulate both intra-EAEU trade and exports to third countries.

“In this context, I want to again emphasize the importance of our Crossroads of Peace regional infrastructure project. It aims to create reliable and interconnected transport routes that will ensure regional stability and strengthen economic ties among all interested states—based on full respect for sovereignty, jurisdiction, and reciprocity,” Grigoryan added.

The Deputy Prime Minister also spoke about efforts to stabilize the common market for medicines and medical supplies within the EAEU.

“As a result, the unified pharmaceutical market will begin operating as early as next year,” he said.

Grigoryan reiterated the need for structured efforts to optimize business processes and build integrated digital platforms within the EAEU by improving electronic governance and implementing cybersecurity mechanisms.

The meeting in Cholpon-Ata gathered the heads of government from EAEU member states to discuss customs administration, trade relations, transport infrastructure development, and the establishment of common markets for oil, gas, and pharmaceuticals.