"Last year Russian-Armenian relations entered a new state of development which was characterized by considerable progress in the sphere of economic cooperation," the Armenian Foreign Minister said. According to him, it was provided by Russian-Armenian permanent bilateral dialogue and intensive top-level contacts.
The Russian-Armenian agreement "Property for Debt" was implemented in 2003. The implementation of this agreement not only repaid Armenia's debt but also will attract Russian investments into Armenian economy in the future, Oskanyan said.
According to the Armenian Foreign Minister, in 2003 Russian-Armenian foreign trade turnover grew by 30 percent. In 2004 the Armenian leadership will aim at the increase of volumes of the foreign trade turnover with Russia and Russian investments, Oskanyan said.