Armenian, Russian PMs discuss bilateral economic relations

Within the framework of his official visit to Russia, Prime Minister Nikol Pashinyan met with Russian Prime Minister Mikhail Mishustin.

The Russian PM said the Government will take all necessary measures to implement high-level decisions reached during Pm Pashinyan’s meeting with Russian President Vladimir Putin.

According to Mikhail Mishustin, Russia ranks first among Armenia’s foreign investment partners. “It is gratifying that last year the trade turnover between the two countries increased by almost 13%, reaching 2 billion 600 million dollars, and in January-February 2022, the trade turnover increased by 42% compared to the same period last year, amounting to 430 million dollars. The volume of Russian investments in the Armenian economy exceeds 2 billion dollars. We are interested in developing bilateral cooperation, implementing new projects in areas such as energy, mining, transport infrastructure, pharmaceuticals, agriculture, digital technologies, and high technology,” he said.

The Russian Prime Minister proposed to speed up the process of signing a new program of economic cooperation between Armenia and Russia. In the context of sanctions against Russia, Mishustin attached importance to more active use of national currencies in bilateral trade, the use of industrial cooperatives, and the creation of new trade opportunities.

“We also pay special attention to the implementation of the agreements between the leaders of Armenia, Russia and Azerbaijan on unblocking of regional infrastructure. I am confident that the creation of new infrastructure routes will contribute to the further development of the region, stability and peace for the benefit of the countries of the South Caucasus. Russia continues to provide humanitarian assistance to Armenia, and now, through the International Center for Humanitarian Response, conditions are being created for the return of refugees to their places of permanent residence and the restoration of facilities and infrastructure,” Mikhail Mishustin said.

Prime Minister Pashinyan, in turn, thanked for the warm reception. “This is my first official visit to the Russian Federation and I must say, you have rightly noticed that it is very successful. Yesterday we discussed with Vladimir Putin the whole scope of our interstate relations, held very effective negotiations, reached strong agreements. Russia is considered to be Armenia’s main trade partner, our trade turnover and trade ties are constantly growing. We are also cooperating effectively within the framework of the Eurasian Economic Union.”

“We have a rich experience of cooperation in the field of energy and strategic plans to develop that field. Of course, we have specific plans in other spheres of transport; yesterday we agreed with Vladimir Vladimirovիցհ that the intergovernmental commission should become the main platform for the implementation of the agreements reached in the spheres of economy, energy and other spheres. I consider it necessary to emphasize that our ministries cooperate quite well, the intergovernmental commission is also active, a sitting was recently held in Yerevan. I think that in the current situation there are common challenges, opportunities that should be used. I am glad that today we have the opportunity to discuss some specific topics; it is possible to reach concrete solutions,” PM Pashinyan said.

He reminded that this year marks the 30th anniversary of Armenia-Russia diplomatic relations, the 30th anniversary of the CSTO, the 25th anniversary of the Treaty of Friendship, Cooperation and Mutual Assistance between Armenia and Russia. “In this jubilee year we have a rich program of events, which is first of all a good opportunity to celebrate the anniversaries, as well as to analyze the way passed, to understand whether we have managed to achieve the set goals, and where we have not,” he said.

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