YEREVAN, JUNE 20, ARMENPRESS. As part of the foreign policy meetings, President of Armenia Serzh Sargsyan held a meeting today on the Armenia-Russia economic relations and cooperation.

H.E. Vardan Toghanyan, Armenia’s Ambassador to Russia briefed the President on the initiation of bilateral ongoing projects, enhancement of the allied relations with Russia, works of the Embassy on enriching the multifaceted cooperation with new programs, as well as existing issues and obstacles in advancing the bilateral agenda, the President’s Office told ARMENPRESS.

The President emphasized that since the establishment of diplomatic relations with Russia 25 years ago, it was possible to establish strong allied relations between Armenia and Russia, which is rich with numerous mutually beneficial economic programs.

“I think the commercial turnover growth which we have achieved, and in 2015 we registered nearly 15% growth, as well as more than 50% growth in exports which is very important for us, is associated also with Armenia’s membership to the Eurasian Economic Union. The favorable conditions for energy suppliers to Armenia are also associated with this membership and the strong allied relations with Russia. Generally, I think that there is a special factor in the Armenian-Russian relations, and it is that the economic relations were built having the strong friendly relations as a foundation/

In many cases in the modern world the opposite often occurs – economic relations lead to friendly relations. In our case, indeed the foundation is the friendship, and the economic relations strengthen it.

Russia is the largest investor in our county. Russian investments comprise 47% of our total investors, Russian capital is presented in all branches of our economy. I think that although today’s economic relations reflect the existing level of political relations between our countries, we have sufficient potential here, and it is its usage which must develop also our economy.

Our countrymen who live in Russia also have significant role in the bilateral relations – the Armenian community, who not only develop Russia’s economy, but also invest in Armenia, participate in nearly all branches of our economy. I think that a major branch for cooperation has emerged recently, and we simply must put efforts for the development of this sector – it is the tourism sector. Russian tourist visits to Armenia grew by 25% in the last 5 months compared to the previous year’s same period.

I am sure that the annual result will be a lot higher. This is a market, which we must definitely use, taking into account the fact that tourism is not only a business, but also a very serious factor of strengthening relations between two peoples”, the President said, and addressed the Ambassador to brief on the future projects, obstacles and others.

“These obstacles can be of various nature, from the legal sphere up to irresponsible attitude of officials”, the President said.

The Ambassador reported that the bilateral cooperation between Russia and Armenia continued to develop in 2016 and the first half of 2017 – enriching with more targeted programs and priorities associated with EEU membership.

Progress was recorded in commercial turnover, namely in Armenian exports to Russia, while new prospects appeared in the tourism cooperation sector associated with the Armenian government’s decision on granting entry permit to Russian citizens on internal passports.

The Ambassador said that educational exchange programs and cultural ties projects were also carried out.

“Nevertheless in the present stage of the Armenian-Russian relations, there are certain issues, particularly in the commercial turnover dimension, which are subject of discussion and revision of the inter-governmental and inter-parliamentary committees of economic cooperation between the two countries”, the Ambassador said, mentioning the financial and customs limitations which still exists in exports of products and services to Russia, working migration issues of Armenian citizens in Russia, the insufficient representation of Armenian products in Russian regions and several other issues, which need solution and coordination.

The consultation, which was attended by ministers, discussed the Ambassador’s report and proposals.