Tweet
ITAR-TASS, Russia
October 12, 2012 Friday 08:05 PM GMT+4
Russia's investments in Armenia's economy exceed $3 bln over 20 years
- RF minister
YEREVAN October 12
Russia's investments in Armenia's economy over 20 years exceeded three
billion U.S. dollars, including 2.5 billion U.S. dollars of direct
investments, Russian Transport Minister Maxim Sokolov said on Friday.
The Russian minister arrived in Yerevan to hold a regular meeting of
the Intergovernmental Commission on Economic Cooperation between
Russia and Armenia. Sokolov heads the Russian part of the commission.
He expressed satisfaction with the fact that the biggest part of the
investments are direct, in other words "Russia mainly invests in the
development of enterprises, technical basis and business. They are not
only the so-called portfolio investments."
Touching upon the downward tendency in this sphere in the current
year, the minister is confident that it is early to sum up any
results. "We will analyse the statistics for the year. The investing
process has certain discreteness. Investors make their fiscal plans
proceeding from investments and the maximal concentration of funds by
the end of a year," the Sokolov said.
"Based on this, we can assess the investment flows only at the end of
the year," he added.
The minister reaffirmed that Russian-Armenian trade reached one
billion U.S. dollars in 2011. "This year's statistics shows that the
two countries have already exceeded the threshold of 800 million U.S.
dollars in the first eight months of the year," he said, adding,
"Therefore, we have all chances to exceed the indicator of 2011 by the
end of the current year."
Touching upon prices for the supply of Russian gas to Armenia, the
minister said that the issue was considered at the intergovernmental
commission's meeting. "The talks are underway. The management of
Gazprom and the Armenian Energy Ministry are attending the talks,"
Sokolov said. "We are dynamically moving to the achievement of
accords, which will be suitable for both sides," he added.
The Russian Transport Minister and Armenian Prime Minister Tigran
Sargsian signed a program of long-term economic cooperation between
Russia and Armenia in the period up tp 2020.
"The document embraces almost all spheres of the Armenian economy, as
well as the social, cultural and humanitarian cooperation," the
Armenian prime minister said. In his words, this comprehensive program
is a result of a very intensive and long-term activity of the two
countries' working groups.
From: A. Papazian
October 12, 2012 Friday 08:05 PM GMT+4
Russia's investments in Armenia's economy exceed $3 bln over 20 years
- RF minister
YEREVAN October 12
Russia's investments in Armenia's economy over 20 years exceeded three
billion U.S. dollars, including 2.5 billion U.S. dollars of direct
investments, Russian Transport Minister Maxim Sokolov said on Friday.
The Russian minister arrived in Yerevan to hold a regular meeting of
the Intergovernmental Commission on Economic Cooperation between
Russia and Armenia. Sokolov heads the Russian part of the commission.
He expressed satisfaction with the fact that the biggest part of the
investments are direct, in other words "Russia mainly invests in the
development of enterprises, technical basis and business. They are not
only the so-called portfolio investments."
Touching upon the downward tendency in this sphere in the current
year, the minister is confident that it is early to sum up any
results. "We will analyse the statistics for the year. The investing
process has certain discreteness. Investors make their fiscal plans
proceeding from investments and the maximal concentration of funds by
the end of a year," the Sokolov said.
"Based on this, we can assess the investment flows only at the end of
the year," he added.
The minister reaffirmed that Russian-Armenian trade reached one
billion U.S. dollars in 2011. "This year's statistics shows that the
two countries have already exceeded the threshold of 800 million U.S.
dollars in the first eight months of the year," he said, adding,
"Therefore, we have all chances to exceed the indicator of 2011 by the
end of the current year."
Touching upon prices for the supply of Russian gas to Armenia, the
minister said that the issue was considered at the intergovernmental
commission's meeting. "The talks are underway. The management of
Gazprom and the Armenian Energy Ministry are attending the talks,"
Sokolov said. "We are dynamically moving to the achievement of
accords, which will be suitable for both sides," he added.
The Russian Transport Minister and Armenian Prime Minister Tigran
Sargsian signed a program of long-term economic cooperation between
Russia and Armenia in the period up tp 2020.
"The document embraces almost all spheres of the Armenian economy, as
well as the social, cultural and humanitarian cooperation," the
Armenian prime minister said. In his words, this comprehensive program
is a result of a very intensive and long-term activity of the two
countries' working groups.
From: A. Papazian