Medicine Will Be More Expensive in Armenia After Joining Customs Union: Paper

There will be an 8–10% increase in the price of medicine after Armenia joins the Customs Union, reports local daily Haykakan Zhamanak, comparing the State Revenue Committee's official figures and the rates of customs duties in the Customs Union.

"The issue is that currently, medicine imported to Armenia is exempt from customs duties, while a customs tariff of 8–10% is set for Customs Union member countries. Note that already last year, the price of drugs in Armenia rose by 7%," reports the paper.

In the case of several types of products, particularly automobiles and some food products, customs duties are higher in the Customs Union than in Armenia currently.