2024-08-13 03:48:29
Despite the pandemic, Russia maintained its status as Armenia’s leading trade partner. According to “Armenpress”, Deputy Prime Minister of the Russian Federation Alexey Overchuk said this in his speech at the opening of the Armenia Business Forum in Yerevan.
“Since Armenia’s accession to EAEU and co-operation, trade between the countries has doubled from $1.3 billion to $2.5 billion.
Last year, our turnover decreased by 9.5 percent, but already in January-July of this year, the reduction was overcome. And we note an increase of 17.2 percent. It is a very good growth, but we should not stop. The prospects of cooperation are great, there are groundbreaking projects and ideas. And the most important thing is the desire to implement them,” said Overchuk, adding that today’s forum is a vivid example of this.
The Deputy Prime Minister of the Russian Federation said that a new strategic intergovernmental document has been developed in the medium term in order to increase the trade turnover and investment interaction between Russia and Armenia. It is a plan of economic cooperation until 2025, in which the main areas of economic cooperation between the two countries will also be recorded.
According to Overchuk, Armenia shows the highest rate of growth of mutual trade with EAEU partners.
The Russian official noted that since the country’s accession to the Union and until 2019, the value volume of Armenia’s goods with its partners in the EAEU has increased by 82 percent.
“The supply of beverages increased 1.5 times, the supply of precious metals – 2 times, the supply of optics and measuring equipment – 10 times. In 2020, mutual trade in EAEU decreased by 13.6 percent, but already now the turnover of goods has increased by 31.9 percent. In the first half of 2020, GDP increased by 4.2 percent, industrial output by 4.4 percent, unemployment decreased by 5 percent,” Overchuk said.