Putin: In order to diversify the trade, Armenia and Russia are exploring the possibility of mutual settlements in national currencies

ArmInfo. Russia is Armenia's leading economic partner, last year bilateral trade turnover increased by 6%. Vladimir Putin stated this on March 15 during a press conference following the meeting with Armenian President Serzh Sargsyan.

"We consider such a result to be a serious success, which was achieved in the conditions of an unstable global conjuncture. For the further expansion and diversification of trade, the possibility of mutual settlements in national currencies is currently being worked out. Russian investments in the Armenian economy exceeded $ 3 billion. In the republic there are about two thousand enterprises with Russian capital. Cooperation is actively developing in the energy sector. Russia is the largest supplier of natural gas to Armenia: 100 percent of Armenian consumption is Russian gas. With the assistance of "Gazprom", the fifth power unit of the Hrazdan Thermal Power Plant was reconstructed, the capacity was brought to 480 megawatts. "Rosatom" is modernizing the Armenian nuclear power plant.  Successfully promoted cooperation in the mining industry. The Russian company Polymetal is engaged in the development of gold deposits in Armenia. RUSAL invested $ 120 million in a joint venture to produce aluminum products", the Russian leader said.

At the same time, he stressed that Russia is helping to develop the transport infrastructure of Armenia.  According to him, RR (Russian Railways) is carrying out a large-scale program of technological renovation of the railway network, investments - $ 500 million.

He also stressed that strong partnership ties have been established between the regions of Armenia and more than 70 subjects of the Russian Federation. In this regard, he recalled that in October 2016, the Fifth Russian-Armenian Interregional Forum was held in Yerevan.  "We expect that the further strengthening of bilateral exchanges will be facilitated by the implementation of the program of interregional cooperation signed on January 24 and scheduled for 2016-2021. Of great importance for our countries are close contacts between people, cultural, scientific, educational ties. About 5,500 Armenian citizens study in Russian universities and over 1,500 are paid by the Russian federal budget. Last year, within the framework of the program of cooperation in the cultural and humanitarian sphere cross-cultural days were held with success ", said Putin.

To note, according to the National Statistical Service of Armenia, the volume of trade turnover between Armenia and Russia in January-December 2016 amounted $ 1.367 billion with an annual growth by 15.1%.  Export amounted $ 371 million with an annual growth by 51.5%. Import - $ 996 million with an annual growth by 5.7%.