Russian Investments In Armenia Strong In All Key Sectors – EDB

RUSSIAN INVESTMENTS IN ARMENIA STRONG IN ALL KEY SECTORS – EDB

MOSCOW, October 10. /ARKA/. Russian investments are very strong in
all key sectors in Armenia, head of the EDB Centre for Integration
Studies Yevgeny Vinokurov said at the 9th Eurasian economic conference,
as cited by Novosti-Armenia.

The fields include electricity, power generation, energy distribution,
gas supply and distribution, processing industry, Vinokurov said.

Another project arises now – the North-South road corridor, which is
vital for the country’s future, he said. Investments in the country
will grow if this project is pushed through, according to Vinokurov.

The North-South Road Corridor will link Central Asia
and India with Iran, Georgia, Russian Federation and
Europe. The corridor passes across Armenia from South to North
(Meghri-Kapan-Goris-Yerevan-Ashtarak-Gumri-Bavra), links up with the
Georgian road leading to seaports Poti and Batumi (Black Sea) and on
toward Russia, CIS and EU. The total cost of the first-ever investment
project in Armenia is $1.5-2 billion. The Anti-Crisis Fund of EurAsEC
(Eurasian Economic Community) made a decision to provide Armenia with
$150 million for the project.

Yet, the economic situation in Russia will, no doubt, affect growth
rates and exports and imports in Customs Union and the Eurasian
Economic Union (EEU) countries as Russia accounts currently for 87%
of the EEU economy, Vinokurov said.

“We will be trading less and labor migrants will be sending less homey
home, but this should not affect the integration processes”, he said.

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From: Emil Lazarian | Ararat NewsPress