Armenian-Russian trade turnover increased by 96% in January-April 2023 - Mishustin

YEREVAN, June 7. /ARKA/. In January-April 2023 the trade turnover between Armenia and Russia soared by 96% to over AMD 660bln, Russian Prime Minister Mikhail Mishustin said today as he met with Armenian Prime Minister Nikol Pashinyan in the southern Russian city of Sochi, the venue of a series of meetings of heads of several former Soviet republics, which make the Commonwealth of Independent States (CIS) and the Eurasian Economic Union (EEU).

"It is important that this positive trend is preserved," Mishustin said. Mishustin stressed also that today trade and economic cooperation between Russia and Armenia "is developing actively and dynamically, despite the ‘illegal’ economic sanctions imposed 9on Russia) by a number of unfriendly states."

According to official statistics, Armenia’s foreign trade in the first 4 months of 2023 increased by 99.4% year-on-year to over $5.8 billion.

Russia is the largest foreign trade partner of Armenia among the CIS states with the bilateral trade reaching over $2 billion in January-April 2023, which is 2.3 times higher than in the first four months of 2022).

Mishustin said also that more than 4.5 thousand companies with Russian capital are successfully operating in Armenia today.

"The accumulated investments today exceed 46% of the total volume of foreign investments in the Armenian economy," he added.

"We are interested in launching new joint projects in the energy, mining, digitalization and agro-industrial areas. Russian companies are ready to offer advanced solutions, including in the areas of e-government, smart and safe city, transport infrastructure," he said.

Mishustin also said that in accordance with the agreements of the leaders of Russia, Armenia and Azerbaijan, work is underway to unblock transport links between Armenia and Azerbaijan and create new infrastructure routes. ($1 - 386.75 drams). -0-