11, 2010

President Sargsyan met in Moscow with the Chairman of the Government of the Russian Federation Vladimir Putin

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President Serzh Sargsyan met in Moscow with the Chairman of the Government of the Russian Federation Vladimir Putin.

Today, President Serzh Sargsyan discussed with the Chairman of the Government of the Russian Federation Vladimir Putin the process of development and prospects of the Armenian-Russian economic relations.

Noting that Russia has been Armenia’s main trading partner, President Sargsyan said that this year the turnover between Armenia and Russia has increased by 12 percent. The President of Armenia spoke also about over half a billion US dollars invested by Russia into the Armenian economy last year and said that investments continue to be made this year as well.

“The projects that we implement jointly now, testify to the long-term nature of our economic relations. It can be said about the construction of the new unit of the Metsamor nuclear power station, modernization and development of our railroad system. There are also major and long-term investments in the communications area. In fact, we develop dynamically,” said the President of Armenia, and once again thanked the Chairman of the RF Government for the loan provided to our country. According to the President, lest the loan was provided in time, Armenia would have faced significant difficulties in rebuilding our economy after the crisis. Serzh Sargsyan noted that unfortunately notwithstanding the efforts, due to inclement weather, just as in Russia, the area of agriculture in Armenia has been in decline.

“Whereas our industry has been growing by nearly 10 percent, the area of agriculture has registered 17-18 percent decline. However we are hopeful that in cooperation with Russia we will overcome the crisis since our major enterprises are either joint ventures, or work on Russian capital,” said the President of Armenia.

Prime Minister V. Putin assured that Russia being aware of Armenia’s problems, is ready to continue cooperation and coordinate all issues on the practical level.

“Despite the difficulties in the area of agriculture, which we have gone through due to weather conditions, we nevertheless responded to the request of our Armenian friends and last September shipped grain to ensure that sowing is made in time, so as to provide for good results next year,” noted in response the Chairman of the RF Government.

V. Putin also said that Russia has traditionally been a leading trade partner for Armenia and said that there is no need to talk about the turnover, underscoring that it’s not unsatisfactory.

“It is true that in 2009, during the crisis the turnover suffered some decline but now it’s rising rapidly. Even in 2009, the volume of direct Russian investments in the Armenian economy went up, reaching in total approximately 3 billion USD, or 2,8 billion USD to be precise. In 2009, direct Russian investments grew by half a billion,” Prime Minister Putin said, recalling also 500 million USD state credit provided to Armenia in June of 2009. Mr. Putin expressed hope that it was helpful and timely for the stabilization of the situation in the social and economic spheres.

“Our major companies work actively on the Armenian market, and we are grateful to You that You and the government of Armenia create necessary conditions for their activities,” Prime Minister Putin said to President Sargsyan.

After high-level meetings held today in Moscow, President Sargsyan in the evening attended the official event at the Kremlin State Palace dedicated to the 10th anniversary of the Union of Armenians of Russia.

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