Putin hopes for closer trade and economic ties between Armenia and Russia

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Economy

23.12.2010, 02:40

Russian Prime Minister Vladimir Putin hopes for expansion of trade and economic cooperation with Armenia.

YEREVAN, December 22. /ARKA/. Russian Prime Minister Vladimir Putin hopes for expansion of trade and economic cooperation with Armenia.

On Wednesday, at a meeting with his Armenian counterpart, Tigran Sargsyan, the Russian premier said that trade turnover between the two countries fell 20% amid the crisis, but it has grown 16% for nine months of this year.

Putin said that Russia supported Armenia’s economy by extending a preferential loan of $500 million to it fro 15 years. This loan deterred the trade turnover from falling.

Putin voiced satisfaction over the fact that not a single Russian company has stopped doing business in Armenia.

He said Russian investments in Armenia total $3 billion.

“I hope our business will feel comfortably here in Armenia,” Putin said.

Sargsyan expressed hope that it would be possible “to give an impetus to economic relations between the two countries in the next year”.

The Armenian premier said that Armenian government sets its hopes on the joint project of creation of free trade zone based on Mars works in Armenia.

“The project will be put on Armenian National Assembly’s floor in the first quarter of the coming year. I hope it will create a platform for Russian business in Armenia,” Sargsyan said. -0--

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