Putin hails strong growth in trade with Armenia
17:24 | 24/ 01/ 2007

RIA Novosti, Russia
Jan 24 2007

SOCHI, January 24 (RIA Novosti) – At a meeting with the president
of Armenia in a southern Russian city Wednesday, the Russian leader
praised the strong upward trend in bilateral trade, which gained 70%
in January-November 2006.

At talks in a Russian Black Sea resort of Sochi, Vladimir Putin and
Robert Kocharyan discussed trade and the implementation of agreements
between the former Soviet allies.

"On the whole, we are satisfied with the steady growth in trade over
the past few years," Putin said. "It increased 40% in 2005, and 70%
in the first eleven months of 2006."

"The final figure for the whole last year may reach about $500
million," the president told a news conference following the
negotiations.

Kocharyan said he hoped Russia would reclaim its leading positions
among Armenia’s foreign investors by March.

"Trade is on the increase, and Russian investment in the Armenian
economy has also grown substantially," Kocharyan said.

The Armenian leader said ambitious energy projects had already been
launched, and that the sides were considering Russian participation
in Armenia’s mining industry.