Trade turnover between Russia and Armenia doubles to $10.2 billion - Overchuk

YEREVAN, December 20. /ARKA/. Trade turnover between Russia and Armenia in the first 10 months of 2024 reached $10.2 billion, which is twice as much as in the whole of 2023, Russian Deputy Prime Minister Alexei Overchuk said at a meeting of the Russian-Armenian intergovernmental commission on economic cooperation in Moscow, Russian news agency Tass reported.

“Our trade and economic ties continue to be on the rise. At least I will say that mutual trade between our countries is setting new records, reaching $10.2 billion in January-October. This is more than twice as much as last year, but this year is not over yet,” he noted.

Overchuk added that in order to implement trade and economic relations, Russia and Armenia have almost completely switched to settlements in national currencies, and the share of the Russian ruble in mutual settlements has reached 96.3%.

Overchuk also noted that at the moment, Russia is one of the main investors in Armenia.

"Our investments in the industrial projects in Armenia have reached $3.4 billion. More than 40 large Russian companies operate in Armenia. Some of them are the largest taxpayers," he said.