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  • The newly created Eurasian Economic Union (EEU) has shortly got the momentum

    AFGHANISTAN, 2015/12/03 The newly created Eurasian Economic Union (EEU) has in a little while got the momentum as an economic hub for the nations of the region. The EEU includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia as its members, whereas; the Organization is a continuation of contemplation for establishing the integration projects by the Belarus, Kazakhstan, and Russia since 2007. The Organization fundamentally promotes the ideas of streamlining the flow and transportation of services and goods between the member states, therefore, it greatly attracts the interests of a lot of stakeholders and according to the Russian Ministry of Economic Development, a lot of international organizations and the economic giants like China has shown great interest in the creation of free trade zones through the EEU. The present political and economic importance of the South and Central Asian region along with free trade and economic potential across the Eurasian region greatly appeals almost each regional and international country, whether may they be developed or developing country seems eager approaching in bilateral and multilateral engagements with these organizations and the states in the region. The cooperation that is vital to the a lot of states’ national interests consists of the fields of security, economic, energy, bilateral, free trade, scientific education and cultural interactions. Most particularly, the Russian Federation and China have leading ambitious roles in region’s economic and infrastructural developments. In addition, the growing significance of the Shanghai Cooperation Organization (SCO) in the present scenario has further enabled China and Russia to become a dominant player on the world economic and political arena. This in turn has as well provided small or developing nations to benefit from the mutual benefit efforts of the SCO, EEU and other forums for their industrialization and national economic development goals.

  • 2015 Euro-Asia Economic Forum in Xi'an,

    ARMENIA, 2015/09/30 China is ready to integrate the Belt and Road Initiative with development strategies of Eurasian nations, a national councilor said on Thursday. In his address to the 2015 Euro-Asia Economic Forum in Xi'an, capital of Shaanxi Province, National Councilor Wang Yong said Eurasia is the core area of the Belt and Road. The initiative is an opportunity for the construction of a community of shared destiny, said Wang. He made four suggestions, inclunding building trust and respecting each other's core interest.

  • EU-funded project: round table on ethics and disciplinary issues in Georgian Bar Association

    ARMENIA, 2015/08/30 A round table on ethics and disciplinary issues in the Georgian Bar Association's legal framework was held in Tbilisi last week as part of the joint EU-Council of Europe project for ‘Support to the Georgian Bar Association’. The round table, bringing together members of the Georgian Bar Association Ethics Commission inclunding European experts, aimed to identify gaps in the regulatory framework of the Association, inclunding solutions to meet European standards, according to EU Neighbourhood Info. Participants discussed the current situation and agreed to start work on legislative/regulatory changes. The CoE will follow the process and present concrete proposals, which will from presently on be reflected in the legislative/regulatory framework.

  • TAP starts construction of access roads, bridges in Albania

    ALBANIA, 2015/07/09 The Trans Adriatic Pipeline AG has today announced the start of construction and rehabilitation work on access roads and bridges along the pipeline’s route in Albania. The occasion was marked by an inauguration ceremony near the town of Çorovoda, attended by the Prime Minister of Albania, Edi Rama, Minister of Energy and Industry Damian Gjiknuri, and TAP Managing Director Ian Bradshaw. Speaking to an audience that included foreign diplomats, members of the Albanian parliament, representatives of local authorities and other key stakeholders, Prime Minister Rama and Minister Gjiknuri emphasised the importance of the project to Albania.

  • Revised IMF forecasts signal gloom on global economic outlook

    AFGHANISTAN, 2015/01/20 Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday. In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.

  • Oxfam Study Finds Richest 1% Is Likely to Control Half of Global Wealth by 2016

    AFGHANISTAN, 2015/01/20 The richest 1 % are likely to control additional than half of the globe’s total wealth by next year, the charity Oxfam reported in a study released on Monday. The warning about deepening world inequality comes just as the world’s business elite prepare to meet this week at the annual World Economic Forum in Davos, Switzerland. The 80 wealthiest people in the world all own $1.9 trillion, the statement found, nearly the same all shared by the 3.5 billion people who occupy the bottom half of the world’s gain scale. (Last year, it took 85 billionaires to equal that figure.) And the richest 1 % of the people, who number in the millions, control nearly half of the world’s total wealth, a share that is as well increasing.

  • baku, Tirana sign gas deal

    ARMENIA, 2014/12/21 Baku and Tirana have signed a memo on cooperation in the development of a master plan for Albania’s gasification. The memorandum was signed as part of the Azerbaijani delegation’s visit to Albania, which included Energy Minister Natig Aliyev, Deputy Foreign Minister Khalaf Khalafov and SOCAR chief Rovnag Abdullayev, Azerbaijan’s national energy company SOCAR reported. The members of the Azerbaijani delegation have today met with Prime Minister of Albania Edi Rama, Speaker Ilir Meta and Minister of Industry and Energy Damian Gjiknuri.

  • Huge debts remain huge problem for Armenia

    ARMENIA, 2014/11/19 Armenia plans to apply for a $275 million external deficit to heal its economy next year. Huge all of foreign deficit greatly afflicts the Armenian economy, which heavily stands on its own two feet. The government owes huge debts to foreign financial institutions, whilst its citizens remain the major debtors of the domestic banks. "Armenia resembles a peasant, who gets a loan from one bank to repay its debts to an extra bank," Armenian parliament's legislator Nikol Pashinyan said.

  • Natural population growth declining in Armenia

    ARMENIA, 2014/11/19 Demographic problem in Armenia has become additional dangerous since it announced its independence from the Soviet Union in 1991. The total people of the post-Soviet national has decreased about 600,000 over the last 20 years. The former Chief of Armenia's Central Bank Bagrat Asatryan said most of the Armenians preferred to go to distant corners of the world, inclunding the U.S., Australia and as a result lose all their connections with relatives in Armenia. "The new census data of the Soviet period has put the total people of the country at 3.5 million people. But the recent statement said approximately 2.8 million people leave in today's independent Armenia," Asatryan noted.

  • Armenia faces industrial collapse

    ARMENIA, 2014/11/09 The industrial development rate in Armenia is about 5-6 times below than the same indicators it had during the Soviet era. Chief of the Union of Domestic Producers, expert Vazgen Safaryan said the new records about tax payers in Armenia revealed the industry's miserable situation. "The inventory of the top ten major tax payers in the initial nine moths of this year included only three manufacturers - Zangezur Molybdenum Combine, Grand Tobacco and Yerevan Brandy Plant. That's a real example of disastrous industrial regression in Armenia," Safaryan noted.
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