Russia to Resume Economic Links With Armenia

YEREVAN (Armenpress)–The visit of the Russian leader Vladimir Putin to Armenia–scheduled for mid-September is expected to open new horizons for development of Armenia’s machine and tool construction sector–said deputy trade and industry minister Ashot Shahnazarian. During the visit–a number of agreemen’s to resume cooperation between Russian and Armenian machine–tool and military-manufacturing companies will be signed.

Russian Deputy Prime Minister–Ilya Klebanov–said during his visit to Armenia–that several Yerevan-based plants–such as Mars and Mergelian Institute are hoped to cooperate with corresponding Russian companies. Shahnazarian also said that Armenian tool and machine plants have reported a 57 percent growth since the beginning of the year. The plants made 3.28 million Armenian Drams–and a 13 percent increase in the volume of sales.

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