Armenia-Russia Trade Reaches $10.2 Billion, Says Ovechkin

Trade between Armenia and Russia has reached $10.2 billion in the first 10 months, which is double the figure from the previous year. This was announced by Russian Deputy Prime Minister Alexei Ovechkin during a meeting of the intergovernmental commission for economic cooperation between Russia and Armenia.

"Our trade-economic ties continue to thrive. The mutual trade between our countries is setting new records. The year is not over yet, so I believe the figure will rise further before the end of the year," he stated.

The Russian Deputy Prime Minister added that for the implementation of trade-economic relations, Russia and Armenia have nearly fully transitioned to settlements in national currencies, with the share of the Russian ruble in mutual calculations reaching 96.3 percent.

In addition, Russia is one of Armenia's main investors, with investments in industrial projects reaching $3.4 billion. More than 40 major Russian companies operate in the country, some of which are among Armenia's largest taxpayers.

Armenia's Deputy Economy Minister Narek Hovakimyan stated that over the ten years of membership in the EAEU, exports from Armenia to member states have increased tenfold.