Russian Investments in Armenia Exceed Foreign Capital by 46%: Mishustin

There are currently 4,500 Russian companies operating in Armenia, and the total investments from Russian capital have exceeded foreign capital in the Armenian economy by more than 46%. This was stated by Russian Prime Minister Mikhail Mishustin during a meeting with Armenian Prime Minister Nikol Pashinyan in Sochi today.

The two prime ministers met in Sochi during the sessions of the Eurasian Intergovernmental Council and the Council of Heads of Government of the CIS.

“From January to April, the mutual trade turnover between the two countries has increased by 96%, totaling 140 billion rubles, or more than 660 billion AMD. Of course, it is important to maintain this positive dynamic and set new records in mutual trade turnover,” Mishustin said.

According to him, there is now a direct connection between the relevant structures of Armenia and Russia, and 24 business meetings have been organized in Armenia during this period.

“I am confident that the decisions we make today in Sochi will provide new impulses for economic integration in the region,” he added.

Mikhail Mishustin also noted that, in accordance with the agreements between the leaders of Armenia, Russia, and Azerbaijan, work is underway to unblock transport and economic ties in the South Caucasus, creating new infrastructure routes.