ArmInfo. Russian Ambassador to Armenia Sergey Kopyrkin does not feel that Russian economic operators are afraid of working in Armenia. In an interview wit the First Public TV Channel, Ambassador Kopyrkin elaborated on the investment projects of interest to Russian businesses in Armenia and on whether Russian business are not in fear of working in Armenia amid the situation involving the GeoPromining-run Sotsk gold mine (part of which is under Azerbaijan's control now).
According to the ambassador, the latest developments are evidence of the opposite. "Two large-scale business missions with the participation of large companies took place this September. An Armenian- Russian business forum took place as well. No doubts, the events showed Russian economic operators' interest in Armenia's economy. It is becoming evident," the ambassador said. He pointed out the fact that a number of large enterprises with Russian capital - South Caucasus Railway and Gazprom Armenia- are operating in Armenia, and their activities are clear to anybody. "The South Caucasus Railway is actively investing in modernizing the rolling stock, and a need for increase investments until 2024 is realized.
"As you know the life extension work is in progress at the Metsamor NPP, which requires serious investments, and the life extension is not the only issue. A further modernization plan as well as new electric power plants are on the agenda," the ambassador said.
Kopyrkin also spoke of the future of the Zangezur copper and molybdenum plant, which aroused great interest in Armenia. It is also the Russia-based GeoPromining company, which is joint holder with the Armenian government. "This one is a comprehensive project of copper works construction. It will enable Armenia to get out of the situation when only raw materials are used, that is, added value will emerge. It implies investments in education and personnel training. That is, a comprehensive project involving the interests of a number of social and economic groups is on the agenda," the diplomat said. As to whether Russia plans its participation in the North-South international highway, Kopyrkin said that Russia is actually involved in the project now. In this context he noted that the Eurasian Development Bank is one of the key investors. "Russia is an EDB member, However, as far as I understand, there is a project of a new section of the highway. I think bids will be invited, and Russian companies will take part." Russia has a road research institute dealing with road economy. It can ensure the technical component and is interested in working in Armenia.
Russia is Armenia's major trade and investment partner. The Armenian-Russian trade turnover totaled $.18bln this Jan-Sept, a 13.5% year-on-year increase. Armenia's exports to Russia totaled $594.3mln, a 27.4% year-on-year increase, and Armenia's imports from Russia totaled $1.2bln, a 7.6% year-on-year increase. Russia's share in Armenia's foreign trade turnover is 31.1%.
