Wednesday, March 15 2017 14:31
Alina Hovhannisyan

Armenia and Russia signed an Agreement  on setting joint Investment Fund

Armenia and Russia signed an Agreement  on setting joint Investment Fund

ArmInfo. Russian Fund of Direct Investments and SME Investments Armenian Universal Credit Company on March 14 signed an Agreement on setting joint Russian-Armenian investment fund.

The sides plan to develop investment programs by contributing to the deepening of trade-economic and investments cooperation between two countries and Armenia's integration in the Eurasian economic space.  The respective agreement was signed within the framework of Armenian President Serzh Sargsyan's visit to Russia.  "We are happy to welcome our first international co-investor partner from the CIS countries.  Armenia is Russia's key trading partner, including also in the EAEU.  The Fund to be established will contribute to the further development of economies of out states thanks to implementation of various programs in priority fields such as agriculture, industrial production, transportation, logistics infrastructures", said Kirill Dmitriev - Chief Executive Officer at the Russian Direct Investment Fund.

"We are happy to cooperate with the Russian Direct Investment Fund the international experience of which in the field of mutual investment partnership is very important in terms of increasing the effectiveness of the Armenian-Russian joint projects. We are confident that our joint investments will boost further integration of the economies of Armenia and Russia, the trade turnover growth and the strengthening of friendly ties of two states", said Artur Badalyan - Executive Director of "SME Investments" UCO CJSC.

According to the national Statistics Service of Armenia, the  foreign turnover between Armenia and Russia in 2016 increased for 15,1% - up to USD 1,3 bln. Particularly, the export increased  for 51,5% forming USD 371 mln, within the import growth for 5,7% forming USD 996 mln.

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