MOSCOW, August 27. /TASS/. Armenia would lose up to 25-27% of its exports if it withdraws from free trade agreements with the Eurasian Economic Union (EAEU), Executive Director of the Stolypin Institute of Growth Economics Anton Sviridenko told TASS.

"Armenia will lose up to 25-27% of its exports if the opportunity to engage in free trade with the EAEU bloc is gone," he said.

Armenia will also lose such a significant asset as the unhindered movement of labor, the expert added. "Armenian citizens will most probably be able to work here only on the basis of work permits, rather than under the current EAEU framework, where one can work in any member country without obtaining any additional permits," he said.

Armenian Prime Minister Nikol Pashinyan said earlier that Armenia would soon begin the process of applying for European Union membership.