Russia is Armenia's Main Economic Partner, Says Deputy Chairman of Armenian-Russian Business Council

Today, there are 4,500 Russian companies operating in various sectors in Armenia, and significant opportunities have opened up for Armenian entrepreneurs in Russia. This was stated by Edmond Evoyan, Deputy Chairman of the Armenian-Russian Business Council, during a press conference at the Sputnik Armenia multimedia press center.

“Today, 4,500 Russian companies are already operating in various sectors in Armenia, including construction, logistics, IT, and tourism. After the imposition of sanctions against Russia, many companies relocated to Armenia as a convenient platform for work. Naturally, this will have a very positive impact on Armenia's economy. Overall, Russia is Armenia's main economic partner, and over the last two years, there has been a strong increase in trade turnover between Russia and Armenia, reaching $4.4 billion. That is a very impressive figure,” Evoyan noted.

According to him, there are also significant opportunities for Armenian entrepreneurs in Russia to work with products, as the market is free after the sanctions. “I consider this beneficial for both Russia and Armenia. New products have emerged, and people have started to develop larger projects in IT, food, and machine engineering sectors to create new opportunities. In other words, today Russia has become the main business partner for Armenian entrepreneurs. The market is free and broad after the sanctions,” Evoyan concluded.