Russia, Armenia agree to further promote economic relations

Russian President Vladimir Putin and Armenian President Serzh Sargsyan have agreed to further promote Russian-Armenian relations, regional problems and the prospects for deepening cooperation within the CIS and as part of Eurasian integration processes.During a meeting held last night with visiting Armenian President, Putin underlined that Russia has special relations with Armenia, and that the relations between the two countries are developing successfully, despite the problems in the global economy.Putin noted that last year trade between Russia and Armenia grew by over 20%. “I am also very pleased to note that Russia continues to steadily hold first place among Armenia’s trade and economic partners,” he said.He also pointed out that Russia is also in first place in terms of accumulated foreign investment (over $3 billion) in Armenia, and this trend continues. He added that Russia has ambitious major long-term joint investment plans.For his part, President Sargsyan noted that his visit to Moscow is his first visit abroad since his re-election as the President of Armenia.“Russia is our strategic partner and ally, and that says it all,” the Armenia President said.He noted the positive development in the relations between the two countries, saying that they have achieved exceptional results in all fields: politics, economy, defense, humanitarian sphere and integration.