YEREVAN, December 4. /ARKA/. Armenia has good potential for becoming a regional financial center, member of board (minister) of the Eurasian Economic Commission for key integration directions and macroeconomics Tatyana Valovaya said.
“It is, in general, not a simple region, not a very stable one, and Armenia is one of the stability islands in the region, which may become attractive for investments, including those in the banking sector, by third countries”, Valovaya said at a round-table discussion as part of the third Russian-Armenia inter-regional forum.
Valovaya stressed investments will flow to Armenia if the country’s banks and financial institutions have access to a larger area, then simply Armenia.
In this connection, according to Valovaya, Armenia’s financial sector should be interested in the country’s accession to the Customs Union and the joint economic area.
Armenia’s financial sector is currently not facing any risks in joining the Customs Union as waivers are used for financial services in the Union. Hence, Armenia may stipulate its waivers and limit access for banks from other CU member countries for certain period, Valovaya said. She also reported plans to later eliminate waivers and consolidate financial markets. –0–
