RUSSIAN INVESTMENTS IN ARMENIA OVER $1.3BLN

ARKA
Oct 3, 2008

YEREVAN, October 3. /ARKA/. Russian investments in Armenia have
exceeded $1.3bln, RF Foreign Minister Sergey Lavrov told reporters
following his meeting with his Armenian counterpart Edward Nalbandyan.

"We are satisfied over the real progress in most of the issues. Over
the past months, we have recorded an increase of around 20% in
the bilateral trade turnover. Russian investments in Armenia have
exceeded $1.3bln. It is a considerable sum, and the investments must
of course be effective in the interests of our economies and peoples,"
Lavrov said.

According to him, at the meeting in Yerevan, the sides held a detailed
discussion of bilateral relations and cooperation in dealing with
regional and international problems.

"We held frank and businesslike discussions, which is expected of
strategic partners. We are satisfied over the fact that the agreements
reached by the presidents, including the ones reached during their
repeated meetings, are being implemented," Lavrov said.

He pointed out a high level of Armenian-Russian cultural ties.

"This is a traditional field of cooperation, which is aimed at
maintaining and development of contacts between our peoples,"
Lavrov said.

He also pointed out a higher level of political coordination within
the Collective Security Treaty Organization (CSTO). "Armenia plays a
special role in this process, especially as a country chairing the CSTO
now. I think that all the plans, including the ones of cooperation
between the foreign offices will be realized in future as well,"
Lavrov said.