MEDVEDEV: RUSSIA IS LEADER AMONG ARMENIA’S ECONOMIC PARTNERS

ARKA
Oct 21, 2008

YEREVAN, October 21. /ARKA/. Russia is the leader among Armenia’s
economic partners, Russian President Dmitry Medvedev said in Yerevan
on Tuesday.

"Trade turnover between the two countries has grown over eight months
of this year, and we hope that the end of this year will be quite
successful", he said at a joint press conference with his Armenian
counterpart, Serzh Sargsyan.

National Statistical Service of Armenia says trade turnover between
Armenia and Russia grew 19.5% in Jan/Aug 2008 reaching $482.4 million.

Armenia’s export to Russia reached $136.4 million (19.6% of total
export) after growing 9% over the mentioned period, compared with
the same period a year earlier.

Medvedev said that energy sector, industry, transport, banking system
and information technologies are considered as top-priority focuses
in Armenian-Russian cooperation.

"We intend to continue developing industrial cooperation, stimulate
mutual investment and widen inter-regional ties", he said. "That is
the aim of the agreements signed today".

The Russian president pointed out effectiveness of Armenian-Russian
intergovernmental committee’s activity. The committee on economic
cooperation held its 10th session in Yerevan on Monday.

"It was a comprehensive and good job and its results were seen in
today’s negotiations and document signing=E 2, he said.

Armenian President Serzh Sargsyan, in his turn, said that the majority
of agreements signed earlier have already been put in reality.

"The agreement on energy supply to Armenia is among them", he said.

"This will enable us to ensure further stable growth of our economy".

The head of state said that both countries are also interested in
development of ties between economy entities and regions.

Russian-Armenian talks have resulted in signing some
cooperation-related documents, such as the plan of consultations
between Armenian and Russian foreign ministries, agreements on trade,
economic, scientific and cultural cooperation between the authorities
of Russian region of Sverdlov and Armenian Government and between
Russian Yaroslav and Armenian Armavir provinces’ authorities.