Armenia may face various risks due to accession to the Eurasian Economic Union (EAEU), Tatul Manaseryan, head of the Research Center "Alternative", economist, told reporters on Monday.
He pointed out that the local products may be ousted from the local market by cheaper subsidized goods imported from the EAEU countries unless the competitiveness of some Armenian economic sectors is enhanced.
Another risk concerns possible acceleration of migration, especially, the brain drain. "Legal conditions are being created for legal migration", he said and added that one can be placed in job in the EAEU member states with vocational and higher education. "It is a serious challenge from the viewpoint of national security and economic security", said Manaseryan.
To prevent brain drain, it is necessary to develop science-intensive productions with the use of all national advantages. "I think that we will be able to effectively use our scientific potential if the EAEU sets up joint ventures and implements joint projects", he said.
Other risks are connected with the financial and banking system.
To recall, the Agreement on Armenia's Accession to the EAEU was signed on 10 October 2014 following the session of the Supreme Eurasian Economic Council in Minsk. The Treaty on the Eurasian Economic Union will come into effect on 1 Jan 2015.