Expert: Armenia-Russia trade turnover may grow significantly

YEREVAN, January 24. /ARKA/.  Trade turnover between Armenia and Russia may grow significantly and economic development may be promoted if the countries stop talking on prospects and start acting, director of Eurasian economic cooperation institute Vladimir Lepekhin said.

If the countries launch even a couple of major projects in Armenia with involvement of Russian capital, the economic effect will manifest straight away, Lepekhin said at a Yerevan-Msocow videobridge on the Eurasian project for the South Caucasus in the framework of Journalism Skills School held in Novosti-Armenia agency.

He said the figures show that more than 50% of Armenia’s trade turnover is with the European Union and over 40% is with the joint economic zone. On the other hand, share of Russia in Armenia’s trade turnover with CIS countries is about 95%, he added.

Apart from this, according to Lepekhin, Russia and Armenia have always had close cultural ties. 

“In terms of geopolitical interests Russia has always considered Armenia a key partner and ally. We do understand what problems Armenia has today. Russia has always been on Armenia’s side,” the expert said. It is the regional complications and Armenia’s relations with neighbours that make Russia not to state its pro-Armenian position on a number of issues rigidly, according to the expert.

Armenia’s foreign trade turnover with Russia amounted to 1.2bln in January-November, an increase of 22.1% against the same period of 2011.

Armenia’s foreign trade turnover with the EU was 1.5bln in the period, a 6% reduction compared to January-November 2011.  -0-\