Time in Yerevan: 11:07,   25 May 2024

President invites Russian investors to participate in Armenia’s economic development

President invites Russian investors to participate in Armenia’s economic development

YEREVAN, 7 APRIL, ARMENPRESS. Taking into account the favorable environment for the economic activity formed in Armenia, the President of the Republic of Armenia Serzh Sargsyan has invited the Russian investors to participate in the economic development of Armenia. Serzh Sargsyan has talked about it in an interview with the Russian TV “Россия 24”.
The President referred to the prospects, which were provided by the Armenia's membership in the Eurasian Economic Union and noted that joining the EEU, Armenia has made the right choice, because by the membership the obstacles of the economic collaboration vanished. “We become a participant of 170-million market, and for small Armenia it is a very good achievement. Moreover, the fact, that EEU activities are based on universal, transparent and civilized rules, only will contribute to the welfare of our people”, - the President said.
The President of the Republic of Armenia noted 3 factors, which must be taken into account in the terms of EEU membership. “The main part of our agricultural products is sold in the markets of the Eurasian Economic Union, particularly in the Russian market. If the devaluation of ruble emerged problems for the Russian citizens, it means that our manufacturers as well have faced some problems. Second, it is no secret that many citizens of the Republic of Armenia and originally Armenians, by working in Russia, send funds to their relatives. If the dimension of the transfers remained the same, moreover, it has increased by 13%, by the currency expression those funds have reduced about 2 times. Third, Russia is the main investor in the economy of the Republic of Armenia, and if the Russian investors have problems, then we will also have them”, - the President of the Republic of Armenia highlighted.
Talking about some macroeconomic issues, President Sargsyan said: “I am sure that in any other situation, the problems that now exist would have been greater, because, first, our economies are interconnected. Regardless of whether we had become a member of EEU or not, if problems appear in the Russian economy, they cannot but be reflected in our economy”, - Armenia’s President emphasized, Armenpress reports.
Reflecting to the involvement of the Russian small and medium businesses in Armenia's economy Serzh Sargsyan noted: “We hope that after certain time enterprises and companies will be established in our country, which, producing in Armenia, will be able to export to the EEU and EU markets”.


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