West pursues global interests in deeper partnership with Armenia – economist

The European states and the US have set a special goal to develop a deeper and stronger partnership with Armenia, according to Gagik Makaryan, the chairman of the Republican Union of Employers.

Speaking to Tert.am, the economist said he is aware also of the Muslim states’ special interest in making  industrial investments in other countries, including Armenia, as a possible gate to the West.

“Armenia has a cheap labor force which attracts employers, given especially the fact that the taxes aren’t that heavy here.” 

“Armenia can be the unique bridge between the EU and the Eurasian Economic Union,” he said, adding he expects the country to become increasingly attractive to the West especially amid the continuing sanctions against Russia.

“So the companies which no longer collaborate with Russia either because they do not want to sink in the respective countries’ estimation or because Russia has banned that, will come to Armenia to work. Armenia is encouraged also by Europe,” Makaryan noted.

“The only factor hampering investments in Armenia is corruption which is a major global problem. So no solution will be possible without [eradicating] that. Unless we provide a solution to that problem, that will be a serious obstacle here,” he added.