RUSSIAN-ARMENIAN ECONOMIC COOPERATION IMPRESSING

ARKA
March 9, 2010

YEREVAN, March 9. /ARKA/. Victor Krivopuskov, councilor of Russian
Embassy in Armenia, speaking last week in Novosti International Press
Center, voiced satisfaction at trade and economic cooperation between
Russia and Armenia.

"Today, Russia’s share Armenia’s foreign trade turnover is 22%,"
he said.

National Statistical Service of Armenia says Armenian-Russian trade
turnover reduced 14.9% over 2009 to $901.4million.

Russia’s share in Armenia’s foreign trade turnover was 22.5% in 2009 –
bigger than that of Armenia’s other partners.

Krivopuskov also pointed out Russia’s $500-million loan for Armenia
as evidence of trust.

On June 12, 2009, Russia transferred $500 million to Armenia as
bailout loan.

The money was lent at preferential LIBOR interest plus 3%.