YEREVAN, October 14. /TASS/. The formation of the Eurasian Economic Union (EAEU) opens up new opportunities for enhancing business ties, Armenian President Serzh Sargsyan said at the meeting with Maksim Sokolov, Russia’s Transport Minister and the head of the Russian part of the intergovernmental committee on economic cooperation between Russia and Armenia.

"Our countries integrated within this single economic space, which will spur a free flow of goods, services, capital and workforce, creating new opportunities for enhancing business ties," he said, adding that the purpose of holding the first international Eurasian forum is to showcase those new opportunities.

According to Sargsyan, "close age-old ties based on friendship make a bond between Armenia and Russia" and "today this strong basis backs the expansion of state-to-state friendly relations, with interregional cooperation being one of most important elements."