Free trade zone formation agreement between the EU and Armenia and development of economic ties with Europe won’t hamper further deepening of relations between Armenia and Russia, Armenian National Assembly member said.

According to Karen Tchmarityan, Armenia has trade agreements with CIS all member-countries, and advancement of trade relations with the EU will result in opening new platforms for realization of the Armenian product, which in term will boost the country’s investment climate.

Armenian President Serzh Sargsyan and President of the European Commission, José Barroso, officially launched the negotiations for Deep and Comprehensive Free Trade Area (DCFTA) between Armenia and the EU.

“The DCFTA has the potential to boost the Armenian economy, as it will speed up anyway necessary reforms. If properly implemented, it can offer a new perspective for the Armenian economy, access to the Single European Market, ease the effects of the Turkish border blockade, and generally upgrade Armenia’s standards to a European level,” said EuFoA Senior Research Fellow, Dr Sargis Ghazaryan.