Trade and economic relations between Russia and Armenia are developing dynamically, Russian President Vladimir Putin said during a meeting with Armenian Prime Minister Nikol Pashinyan at the Kremlin.
"Last year, the trade turnover reached $7.4 billion, and in the first half of this year, it grew 2.5 times, surpassing $8.3 billion," the Russian leader stated, as reported by RIA Novosti.
If this pace continues, the annual trade turnover could reach a record $14-16 billion, Putin emphasized.
Moreover, Putin pointed out some missed opportunities in educational cooperation that need to be addressed.
Pashinyan, in turn, noted that there has been an active political dialogue between Moscow and Yerevan in recent months, and he is pleased to acknowledge this. He also mentioned that during the recent visit of Russian Deputy Prime Minister Alexey Overchuk to Armenia, there was a substantial discussion on all pressing issues.
Putin invited Pashinyan to attend the BRICS summit in Kazan on October 23-24, where dozens of heads of state will gather. The president highlighted that it would be a useful and interesting event. Pashinyan thanked him for the invitation.
Earlier, BMG reported that Russia consistently maintains the lead in trade volumes with Armenia. In January-August of this year, trade turnover with Russia grew by 2.1 times, amounting to over $8.9 billion. However, exports to Russia decreased by 19.5% from last year's figure of $2.39 billion to $1.9 billion in the first eight months of 2024, while imports from Russia increased by 3.7 times, reaching about $7.1 billion.
During the reporting period, Russia's share in Armenia's foreign trade structure also increased from 35.6% last year to 41.4%.
