Russian investments in Armenia total around $4 billion – Kopyrkin

YEREVAN, November 25. /ARKA/. The total amount of accumulated Russian investments in Armenia is approximately $4 billion, Russian Ambassador to Armenia Sergey Kopyrkin, in an interview with ‘’Izvestia’’. 

According to him, the catalyst for the dynamic development of Russian-Armenian trade and economic relations is largely the cooperation within the framework of the Eurasian Economic Union.

"The impressive figures of our mutual trade would simply be impossible without the effective efforts of the EAEU bodies to eliminate trade and administrative barriers, ensure the transition of member states to unified technical, sanitary, veterinary, and phytosanitary standards, and establish clear coordination between the competent government agencies of the countries within the Eurasian economic space," he said.

At the same time, the ambassador noted that these same factors played a key role in Russia's emergence as one of the leading investors in Armenia's economy.

Russia is Armenia's leading foreign trade partner. According to the National Statistical Committee, the foreign trade turnover between the Republic of Armenia and the Russian Federation for the first nine months of 2024 exceeded $9.7 billion, marking a 99.2% increase compared to January-September 2023. Exports during this period totaled $2.3 billion, a decrease of 15.5%, while imports reached $7.6 billion, representing a 3.3-fold increase. -0-