MOSCOW (Armenpress)–President Serzh Sarkisian wrapped up his official visit to Moscow Wednesday, meeting with the Chairman of Russia’s State Duma Boris Gyzlov to discuss the future of Russian-Armenian economic relations.
The meeting, which aimed to broker stronger inter-parliamentary cooperation in the economies of both countries, highlighted the need for greater Russian investment in Armenia’s economy, a main theme evident throughout Sarkisian’s visit to Moscow this week.
During their talks, Gyzlov told Sarkisian that Russia’s parliament is ready to promote the deepening of bilateral relations between the two countries.
The Russian-Armenian inter-parliamentary commission, which is set to meet next in Moscow and then Yerevan, already plays a significant role in that regard, he explained.
There are already about 1000 companies currently operating in Armenia that are financed by Russian capital, according to Sarkisian, who noted that the existing ties between the Russian and Armenian parliamen’s has created a legal framework to foster bilateral trade and economic growth.
Sarkisian, who said that Russian-Armenian cooperation was increasingly becoming more dynamic, noted that bilateral trade and Russian investment in Armenia’s economy is poised to grow and reflect the true nature of Armenian-Russian relations.
According to Gyzlov, Russian investment in Armenia’s economy is largely concentrated in the energy, mining, and telecommunication’s sectors, while most of Russia’s regions enjoy direct economic ties with Armenia.
“The commodity turnover between Armenia and Russia is steadily growing, reaching about 60% yearly. A very serious trade-economic basis has been created. The volume of Russian investmen’s is approaching $1.4 billion,” he said.
A joint statement signed by both men after the meeting also stressed the need for deeper cooperation in Armenia’s nuclear and gas energy sectors, Russian investment in Armenia’s rail system and the construction of an Iran-Armenia railway.