Interfax, Russia
Oct 12 2012

Russia and Armenia’s trade to top $1 bln this year – head of
intergovernmental committee

Yerevan

Trade between Russia and Armenia will exceed $1 billion this year, the
co-chair of the Armenian-Russian Intergovernmental Committee for
Economic Partnership, Maxim Sokolov, said at a briefing in Yerevan on
Friday.

Sokolov said that this figure reached over $800 million in January-August 2012.

According to the Armenian National Statistics Service, total trade
between the two countries came to $1.114 billion in 2011, up 11.9% in
2010. Exports totaled $222.7 million (up 38.8%) while imports came to
$891.7 million (up 6.8%).

Sokolov also said that total Russian investment in the Armenian
economy has reached around $3 billion in the last 20 years, including
direct investment, which has come to $2.5 billion.

“It makes us happy that Russian investment isn’t portfolio-based but
largely direct investment. This means that funds are going to
enterprises, the development of the material and technical base, and
business development,” he said.

Ih