YEREVAN (Pakistan Point News / Sputnik - 20th September, 2022) The trade between Russia and Armenia over a seven-month period in 2022 increased by almost 50% compared to the same period of 2021, Russian Deputy Prime Minister Alexey Overchuk said on Monday.
"In January-July 2022, the trade between the Russian Federation and the Republic of Armenia accounted for $2 billion, an increase of almost 50% compared with the same period in 2021. The Russian exports to Armenia for this period accounted for $1.4 billion, an increase of 40.5%. The imports to Russia from Armenia grew by 66.3%, amounting to $0.6 billion," Overchuk noted.
The deputy prime minister also stated that the two countries were intensifying their investment cooperation, with Russia's accumulated investment having a share of 40% in all foreign investments in Armenia. Overchuk added that over 40 large Russian companies operated in Armenia, including state-owned Russian Railways (RZD) and nuclear corporation Rosatom.
Russia and Armenia are members of the Eurasian Economic Union (EEU), therefore, enjoying a customs-free trade of goods and services and jointly coordinating the areas of macroeconomy, energy, industry, transport and agriculture.�
