Russia is a major strategic investor for Armenia, chairman of the RA Chamber of Industry and Commerce said.
“Since 2005, Armenia’s import from Russia has increased fourfold, exceeding UDS 1billion. Export to Russia has grown twice,” Martin Sargsyan said during an Armenian-Russian business forum on December 6.
“Armenia exports natural juices, mineral water and brandy. Equipment, machinery, spares, furniture and paper are imported,” he said. “There is huge potential for development of bilateral relations, including exchange of information and creation of a common system of goods assessment.”
The turnover between Armenia and Russia totaled USD 793 313 in January-September 2010. Import made USD 118 659 while import was USD 674 653.
