Armenia’s and Russia’s presidents to discuss security in South Caucasus and bilateral relations Wednesday

YEREVAN, August 8. /ARKA/. Armenia’s president Serzh Sargsyan and his Russian counterpart Vladimir Putin will discuss Wednesday security in South Caucasus and bilateral cooperation on Sargsyan’s working visit to Moscow, August 7-8, Russia’s President’s Office reports. In the framework of the meeting, the sides will also discuss collaboration within the CIS as well as Eurasian integration processes, Russia state-run RIA Novosti highlights. 

“Visit of Armenia’s president will open new perspectives for building friendly and mutually beneficial relations between the two partners, Russia and Armenia. The sides will focus on security and stability issues in South Caucasus. Close coordination of political cooperation with Yerevan fosters military-political environment improvement in the region,” the source says.

According to the President Office, the meeting between Russian and Armenian presidents will mark the two important dates- the 20th anniversary of diplomatic relations establishment between the two states, and 15 years since singing an agreement on friendship, cooperation and mutual aid. 

Earlier this year, Russian officials Viktor Zubkov (February 6-7). Sergey Kirienko (February 6-7), Nikolay Patrushev ( February 8-9), Yuri Chayka (April 25-26 ) visited Armenia.

The source states that Russia is the principal economic partner of Armenia, and the main investor in Armenian economy. As of 2010-2011 the trade turnover between the two states reached the volume of that of pre-crisis period, and it is expected to reach 1 billion dollars. In Jan-June of 2012 the trade turnover already fetched up 556 million dollars, which is higher by 32% from a year earlier.

According to the President’s Office, Russia invests funds in energetic, transport, telecommunication, mining, construction sectors of Armenia. The total investments made by Russia in Armenia amounted 2.4 billion dollars within 1998-2011.

Such major Russian corporations as Gazprom, Inter RAO UES, VTB Bank, Russian Railways, Russian aluminum, AFK Sistema are operating in Armenia. The total number of companies with Russian capital reached nearly 1,300 or about ¼ of total number of the enterprises which have a foreign capital. —0--