Lavrov: Russia remains Armenia's leading partner in both trade and investment sectors

Russia remains Armenia's leading partner in both trade and investment sectors, Russian Foreign Minister Sergey Lavrov said in Yerevan during today's 
joint press conference with his Armenian counterpart Edward Nalbandian. 

"Our trade and economic ties are developing very well. Despite the objective and subjective problems in global economy, our commodity 
turnover has not declined. This is very important. The total amount of the Russian companies' capital investments in Armenia's economy 
has exceeded 4 bln USD," Lavrov said. In this light, he praised the activities of the intergovernmental economic and military-technical 
commissions.     

As regards the cooperation within the Eurasian Economic Union, Lavrov noted that an agreement has been reached to continue the efforts 
towards the Armenian economy's adaptation to the EEU membership, including through implementation of the May 2015 Russian-Armenian 
intergovernmental agreement on provision of logistic and financial support to Armenia.    

Lavrov pointed out that Armenia and Russia are closely cooperating both in the bilateral format and within international structures, 
first of all, within the CSTO currently chaired by Armenia. He said that Russia supports the priorities of Armenia's CSTO chairmanship, 
especially the proposals aimed at enhancing the CSTO's efficiency in combating terrorism and the suggestions on promotion of military-technical cooperation. 

The Russian minister is convinced that one more important direction is the partnership within the CIS, where Armenia is a major partner. 

"We have held intensive negotiations and we are set to continue the regular intensive dialogue between Armenia and Russia. Our countries 
hold regular meetings at a high level. This is an important component of close and allied relations between Yerevan and Moscow. The 
Armenia-Russia interaction is dynamically developing in a number of areas, including science, education and humanitarian area. Last 
month, an Armenian-Russian Center for Humanitarian Response was established in Armenia and today we have discussed possible 
involvement of the Center's specialists in the demining activities in Palmyra. "I hope this joint initiative of ours will be successful," 
he said. 

The Russian minister added that Armenia and Russia have agreed to promote the cooperation within international structures. To note, 
according to the Armenian National Statistical Service, in 2015 the Armenian-Russian trade turnover amounted to $1.2 billion (down 18% 
versus 2014). In particular, exports totaled $225.9 million (down 26.7% versus 2014), while imports amounted to $948 mln (down 15.6% 
versus 2014).