2409-1634Research result. Economic Research2409-163410.18413/2409-1634-2016-2-4-3-7950WOLD ECONOMYTHE FOREIGN TRADE OF ARMENIA WITH MAIN PARTNERSTHE FOREIGN TRADE OF ARMENIA WITH MAIN PARTNERSHayrapetyanGrigor R.HayrapetyanGrigor R.grigor.hayrapetyan@ysu.amHayrapetyanViktoriya L.HayrapetyanViktoriya L.hayrapetyanv@rambler.ru20162400

The geopolitical situation in the South Caucasus has sufficiently influenced the present level of economic development of the Republic of Armenia. There are three groups of geopolitical actors: global players (Eurasian Economic Union (mainly the Russian Federation), the European Union, and the USA), regional centers of force (Iran and Turkey), and locals (Armenia, Georgia, and Azerbaijan). Recently, Armenia has defined its economic preferences by joining the EEU; however other actors are still interested in economic cooperation with the RA. Thus, in this paper we investigate the levels of economic relations’ (foreign trade flows’) development of Armenia with all the above listed countries, trying to reveal the most perspective directions of foreign economic development of the RA. Our results demonstrate that Armenia has to promote a multi-directional economic policy by enhancing its export of finished goods to the EEU’s and the EU’s markets.

The geopolitical situation in the South Caucasus has sufficiently influenced the present level of economic development of the Republic of Armenia. There are three groups of geopolitical actors: global players (Eurasian Economic Union (mainly the Russian Federation), the European Union, and the USA), regional centers of force (Iran and Turkey), and locals (Armenia, Georgia, and Azerbaijan). Recently, Armenia has defined its economic preferences by joining the EEU; however other actors are still interested in economic cooperation with the RA. Thus, in this paper we investigate the levels of economic relations’ (foreign trade flows’) development of Armenia with all the above listed countries, trying to reveal the most perspective directions of foreign economic development of the RA. Our results demonstrate that Armenia has to promote a multi-directional economic policy by enhancing its export of finished goods to the EEU’s and the EU’s markets.

geopolitical actorstrade flowsexternal economic cooperationgeopolitical actorstrade flowsexternal economic cooperationСписок литературыOfficial site of the Eurasian Commission. - [Electronic resource]. - Access mode:  http://www.eurasiancommission.org/ru/Pages/ses.aspx (date of address: October 15, 2016).Shepotylo, O., (2009) «Gravity with Zeros: Estimating Trade Potential of CIS Countries», Discussion Papers 16, Kyiv School of Economics. 47 p.Polyakov, E. (2002) «Armenia Trade Diagnostic Study», Poverty Reduction and Economic Management, Europe and Central Asia Region, The World Bank. 199 p.Doing Business in Armenia and Turkey, CSERA, June 2009. 115 p.Markedonov S.M. Knots Greater Caucasus: a look over of the ocean//The Emergency ration magazine. 2012. №4(84).Armenian diaspora and foreign economic relations of Armenia. Transformation of the world economic cooperation in the context of modern global challenges: materials of the international scientific conference. 17-18.05.2016g. Rostov-on-Don: LLC Azovpechat publishing house, 2016. – tt. 21-24. (Russian).Armenia and the EU // [Electronic resource]. - Access mode: http://eeas.europa.eu/delegations/armenia/896/armenia-and-the-eu_en; Armenia - European Union // [Electronic resource]. - Access mode:  http://www.mineconomy.am/eng/43/gortsaruyt.html; Armenia – EU // [Electronic resource]. - Access mode: http://www.mieir.am/?em&lang=eng) (date of address: October 18, 2016).