Armenia and Russia plan to reach record $14-16bn trade turnover - Russian Ambassador

YEREVAN, 25 November. /ARKA/. Armenia and Russia have plans to keep up the momentum in mutual trade turnover and reach a record $14-16 billion, Russian Ambassador to Armenia Sergey Kopyrkin said.

‘’In the first half of 2024, the trade turnover between Russia and Armenia exceeded $8.3bn mark, surpassing the figures for the whole of last year, which stood at $7.4bn,‘’ he said in an interview with Russian daily 'Izvestia'.

Kopyrkin also noted that work is underway to launch joint economic projects in Armenia, which will make a tangible contribution to the development of Armenian industry, create new jobs and increase tax revenues.

Russia is still Armenia’s largest foreign trade partner. According to the National Statistical Committee, the trade turnover between the countries in the first 9 months of 2024 exceeded $9.7bn, almost doubling compared to January-September 2023.

Armenian exports during the reporting period totalled $2.3bn, decreasing by 15.5%, while imports reached $7.6bn with a 3.3-fold growth. -0-