17:08 GMT02 December 2020
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    Russia is one of the main investors in Armenia's economy and a key trade partner, Armenian President Serzh Sargsyan said.

    MOSCOW (Sputnik) — In an article published by the Izvestia newspaper on Tuesday, Sargsyan said that Russia is a top investor for such sectors of Armenia's economy as energy, transport, metallurgy, telecommunications.

    "Russia is one of Armenia's key trade and economic partners and one of the main investors in our economy that is involved in an entire range of sectors, including energy, transport, metallurgy, telecommunications. This year we mark 25 years of diplomatic relations and a 20-year anniversary of the treaty of friendship, the cooperation and mutual aid," Sargsyan said in an article published by the Izvestia newspaper on Tuesday.

    The sides plan to further broaden cooperation, working on innovative ways of boosting economic ties, he added, highlighting the positive effect Armenia's membership in the Russian-led Eurasian Economic Union (EAEU) has had.

    "After joining the EAEU, our economic and trade potential has significantly increased, given that we gained access to the 180-million strong consumer market of the member states," the president said.

    The article comes ahead of Sargsyan's two-day visit to Russia which will commence later on Tuesday. The Kremlin said the visit will take place after an invitation by the Russian side. The Armenian president will meet Russian President Vladimir Putin on Wednesday to discuss bilateral cooperation in political, trade, economic cultural and humanitarian areas, as well as prospects of further integration in the Eurasian bloc. Investments, energy and other economic issues will also be touched upon during Sargsyan's meeting with Russian Prime Minister Dmitry Medvedev on Tuesday.

    The sides are also expected to exchange views on regional problems including Nagorno-Karabakh.


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