Economy

Armenia-Russia trade cooperation continues to grow – Deputy Minister

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Armenia-Russia trade cooperation continues to grow – Deputy Minister

YEREVAN, FEBRUARY 24, ARMENPRESS. A Russian-Armenian Business Forum was held in Yerevan on February 24, pursuant to an agreement reached in December 2021 during the Armenia-Russia 20th session of the Inter-governmental Commission for Economic Cooperation.

Armenian Deputy Minister of Economy Narek Teryan, Trade Representative of Russia in Armenia Anna Donchenko, officials, businessmen and private sector representatives attended the forum.

Deputy Minister Narek Teryan welcomed the participants and noted that the bilateral trade-economic cooperation between Armenia and Russia continues gaining momentum, also thanks to Armenia’s membership to the Eurasian Economic Union.

“In 2019, for the first time mutual turnover between our countries surpassed 2 billion dollars, and in 2021 it totaled 2,6 billion dollars,” he said.

Teryan said Armenia attaches importance to enhancing industrial cooperation with Russian companies, namely in direction of establishing industrial cooperative ties.

He called for the development of joint corporations, innovative projects and organizational-logistic networks, as well as export support centers for SMEs.

In turn, Donchenko noted that Russia remains Armenia’s top trading partner and said that the cooperation between Russia and Armenia has reached a qualitatively higher level and effective bilateral partnership is carried out especially in direction of implementing investment projects in energy, transport, industry. She noted the active cooperation in radio-electronics, IT and high technologies.

AREMNPRESS

Armenia, Yerevan, 0002, Martiros Saryan 22

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