Russia remains Armenia’s main trading partner

YEREVAN, DECEMBER 12, ARMENPRESS. Russia continues topping the list of Armenia’s main trading partners in 2019, Russia’s commercial representative to Armenia Andrei Babko told a news conference.

In January-September, trade with Russia comprised 27% of Armenia’s total turnover. The 2nd largest trading partner of Armenia is China, followed by Switzerland, Germany and Iran.

“Mostly there are no changes in the trade turnover structure with Russia: agricultural products, reprocessed goods, natural gas, agricultural equipment and others. I would like to underscore that Armenian products are competitive in our market in terms of price and quality,” Babko said.

In terms of investments, Andrei Babko said Russian companies are among the primary investors. According to him, 43,6% of the total investments in January-September are Russian investments.

Babko said Russian companies are willing to make investments in supplying agricultural, waste collection and road equipment, and active discussions are underway with the government.

“Our companies are ready to invest within the framework of the transportation network modernization project. I can say that the equipment imported by us can be competitive,” Babko said, noting the absence of customs payments within the EAEU.

“In addition, the transportation costs are subsidized nearly 80%. It turns out that the product will reach Armenia at the price by which it came out of the factory, with little difference”.

Edited and translated by Stepan Kocharyan