Sokolov: Russia Armenia trade turnover expected to grow 9-15% every year until 2020

 Sokolov: Russia Armenia trade turnover expected to grow 9-15% every year until 2020

YEREVAN, December 2. /ARKA/. Russian Transport Minister Maksim Sokolov, speaking today at the Third Armenia-Russia Interregional Forum in Armenia’s Gyumri, said the trade turnover between Russia and Armenia is expected to grow 9-15% every year until 2020, and absolute volumes may grow 2.5-3 times. 

He stressed that the two countries built up trade turnover 22% to $1.2 billion in 2012. 

“We manage to maintain this positive trend also this year – trade turnover between Russia and Armenia grew more than 11%in the first half of 2013, compared with the same period a year before, to over $600 million,” the minister said.

Besides, he said, Russia’s accumulated investments in Armenia has already exceeded AMD $3 billion, and some 1,300 Russian companies operate in Armenia. 

“By the way, we expect the opening of very large Russian companies in Armenia with a great amount of investments,” he said. 

Sokolov also said that trade cooperation will be developed first of all by improvement of free trade regime and taking into account norms and rules of the World Trade Organization. 

In early September, Armenian President Serzh Sargsyan and his Russian counterpart, Vladimir Putin, made a joint statement, according to which Armenia has decided to join the Customs Union and to take part in formation of the Eurasian Union in the future. ---0---- 

19:15 02.12.2013

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