ARMENIAN-RUSSIAN TRADE AND ECONOMIC COOPERATION DEVELOPS SUCCESSFULLY, RF COMMERCIAL REPRESENTATIVE TO RA SAYS

Noyan Tapan

Dec 11, 2008

YEREVAN, DECEMBER 11, NOYAN TAPAN. Trade and economic relations between
Armenia and Russia continue developing successfully. Alexander Zaytsev,
the commercial representative of Russia in Armenia, stated at the
December 11 press conference. According to him, in 2008 commodity
circulation between the two countries amounted to 860m USD, which
exceeds previous year’s index by 19%. Besides, according to A. Zaytsev,
export from Armenia to Russia amounted to 187m USD, import 680m
USD. Over the past 9 months the amount of Russian investments in
Armenia almost doubled reaching 570m USD. A. Zaytsev emphasized that
Russia has made investments of 1bn 800m USD in Armenia since 1991.

Touching upon the world economic crisis, the RF commercial
representative said that it has not had an impact on Armenia’s economic
system yet.

According to him, it has two reasons: the first is that Armenia
has not completely integrated to international economy yet and the
second, the Armenian government undertakes proper steps to avoid
the consequences of the crisis. "Certainly, the crisis will have an
impact on our bilateral programs, but no project has been delayed or
failed so far," A. Zaytsev said.

He found it difficult to answer journalists’ question of whether it
is possible that due to fall in prices for energy carriers in the
whole world Russia will also decrease the price for gas supplied to
Armenia. A. Zaytsev only assured that if indeed price fall is noticed
in the world, Russia will also reconsider its price policy. However,
according to him, today prices decrease not in the whole world,
but in some countries.