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RUSSIA IS ARMENIA'S LARGEST TRADING PARTNER
The Voice of Russia
Dec 6 2013
The key point in the Russia-Armenia trade story now is the upcoming
accession of Armenia to the Customs Union and the Common Economic
Space. The move was agreed on in early September when presidents of
the two states made a joint statement, which has been making headlines
ever since.
This week Russian President Vladimir Putin has paid an official visit
to Armenia to discuss further steps in this direction.
Russia is the biggest foreign investor in Armenia and its largest
trading partner. In 2012, bilateral trade grew 22% to reach $1.2
billion. Most trade has been imports to Armenia. In the first half
of this year, trade turnover between the two states grew over 11%
year-on-year to around $600 million.
The three-member Customs Union of Russia, Kazakhstan and Belarus
was founded in 2010. The plan is to expand it into a so-called
"Eurasian Union", uniting post-Soviet states like Belarus, Kazakhstan,
Kyrgyzstan, Russia, and Tajikistan. It has been also suggested that
the body could include some other countries, historically or culturally
close, such as Finland, Hungary, the Czech Republic, Bulgaria, Vietnam,
Mongolia, Cuba and Venezuela.
Yerevan had great expectations of the country's participation in
Eurasian integration.
"Armenia is linked with the Customs Union countries by thousands of
threads, one-third of our exports go to Russia," Armenian President
Serzh Sargsyan said at a meeting on the parliamentary Assembly of
the Council of Europe in Strasbourg in October this year.
Russia's accumulated investments in Armenia have already exceeded $3
billion, or nearly half of Armenia's foreign investment. Some 1,300
Russian companies operate in the country. Officials say several big
players are expected to enter the Armenian market soon, bringing here
a great amount of investments. By 2020, the trade turnover between
Russia and Armenia is expected to grow up to 15% annually.
Read more:
http://voiceofrussia.com/radio_broadcast/no_program/254699082/
The Voice of Russia
Dec 6 2013
The key point in the Russia-Armenia trade story now is the upcoming
accession of Armenia to the Customs Union and the Common Economic
Space. The move was agreed on in early September when presidents of
the two states made a joint statement, which has been making headlines
ever since.
This week Russian President Vladimir Putin has paid an official visit
to Armenia to discuss further steps in this direction.
Russia is the biggest foreign investor in Armenia and its largest
trading partner. In 2012, bilateral trade grew 22% to reach $1.2
billion. Most trade has been imports to Armenia. In the first half
of this year, trade turnover between the two states grew over 11%
year-on-year to around $600 million.
The three-member Customs Union of Russia, Kazakhstan and Belarus
was founded in 2010. The plan is to expand it into a so-called
"Eurasian Union", uniting post-Soviet states like Belarus, Kazakhstan,
Kyrgyzstan, Russia, and Tajikistan. It has been also suggested that
the body could include some other countries, historically or culturally
close, such as Finland, Hungary, the Czech Republic, Bulgaria, Vietnam,
Mongolia, Cuba and Venezuela.
Yerevan had great expectations of the country's participation in
Eurasian integration.
"Armenia is linked with the Customs Union countries by thousands of
threads, one-third of our exports go to Russia," Armenian President
Serzh Sargsyan said at a meeting on the parliamentary Assembly of
the Council of Europe in Strasbourg in October this year.
Russia's accumulated investments in Armenia have already exceeded $3
billion, or nearly half of Armenia's foreign investment. Some 1,300
Russian companies operate in the country. Officials say several big
players are expected to enter the Armenian market soon, bringing here
a great amount of investments. By 2020, the trade turnover between
Russia and Armenia is expected to grow up to 15% annually.
Read more:
http://voiceofrussia.com/radio_broadcast/no_program/254699082/