Armenia's involvement in the Eurasian Economic Union does not look too promising as it will curb foreign investments, MP Armen Martirosyan told journalists on Saturday.
He said that the crisis in Russia will cause a crisis in Armenia. "With current oil prices, Russia's stabilization fund will shortly end. The Eurasian Economic Union will hardly help Armenia to develop. It is not an efficient structure and will hardly be considering the plans of Kazakhstan and Belarus to more actively trade with Asia and the West," Martirosyan said.
MP Artsvik Minasyan said that Armenia's economy would decline no matter if it joined the EEU or not as it is closely related to the Russian economy. "Our problem is that we have no institutions protecting foreign investments and human rights and this is the key factor that deters foreign investments," Minasyan said.