ALEXANDER ZAYTSEV: THE CRISIS AFFECTED THE COMMODITY TURNOVER BETWEEN ARMENIA AND RUSSIA
Nelly Danielyan
"Radiolur"
20.01.2010 18:12
The commodity turnover between Armenia and Russia fell by more than 20
percent in 2009 as a result of the global financial-economic crisis,
Russia’s trade representative in Armenia Alexander Zaytsev told a
press conference in Yerevan.
Zaytsev said that according to the official data of the Russian side,
in 2009 the volume of commodity turnover between the two countries
made about $710 million, while the same index exceeded $1 billion in
2008. Nevertheless, the expert expressed a hope that the pre-crisis
commodity turnout will recover by 2012.
According to Zaytsev, the global crisis also impacted the level of
Russian investments in Armenia’s economy, which made $300 million in
2009 – 35 percent less than in 2008.
According to Russia’s trade representative in Armenia, the positive
factor last year was the preservation of stability in the work of
enterprises with Russian capital and the Russian side’s allocating
credit means to Armenia to battle the effects of the crisis.
Zaytsev said the opening of the Armenian-Turkish border would lessen
the urgency of the issue of Upper Lars, since Russia would have a
corridor to Armenia through Turkish territory.