ArmInfo.Despite the problems faced by Armenian and Russian exporters at the Upper Lars checkpoint, Armenia and Russia maintain high rates of bilateral trade, with the prospect of growth. Minister of Economy of Armenia Vahan Kerobyan expressed a similar opinion in an interview with TASS. "Even at the end of these six months, we will have an increase in trade turnover by about 30-35%, I believe, and in real terms, trade turnover will grow by about 20%," he said.
At the same time, the minister stressed that if a number of issues related to the throughput capacity of the Upper Lars checkpoint are resolved, then with the start of ferry traffic from the port of Poti (Georgia) to the port of Kavkaz the trade turnover may increase up to 50%.
"This, by the way, is also not the exhaustion of the existing potential. If instead of import substitution of each country separately, with the help of the EAEU countries, we strengthen import substitution together, we will achieve an increase in industrial production in each of the countries", Kerobyan said.
As the minister noted, Armenia intends to increase imports to Russia at the expense of industrial products: electronics, jewelry, building materials. At the same time, he said that Armenian suppliers are intensively increasing the supply of textile goods to Russia (growth by 260%). <However, the trade balance is still on the side of Russia. I suppose that by the end of the year our volumes will be evened out >, the head of the RA Economic Department added.
It should be noted that according to the RA Statistical Committee, the foreign trade turnover between Armenia and Russia in January-May 2022 increased by 39.2%, amounting to $1.2 billion. At the same time, exports increased by 32.7% to $387.2 million, with an increase in imports by 42.5% - to $839.6 million
