ArmInfo. The trade turnover between Russia and Armenia has reached $10.2 billion in the first ten 10 months of 2024, which is double the figure for 2023, as stated by Russian Deputy Prime Minister Alexei Overchuk at a meeting of the Intergovernmental Commission on Economic Cooperation between Russia and Armenia, TASS reports
"Our trade and economic relations are continuing to grow. I will say that mutual trade between our countries is reaching new records. As of now, our data for the first 10 months of 2024 shows a total of $10.2 billion. This amount is more than double compared to last year. I am confident that we will surpass this number by the end of the year," he noted. The Deputy Prime Minister of the Russian Federation added that Russia and Armenia have nearly fully transitioned to using their national currencies for trade and economic relations, with the Russian ruble accounting for 96.3%of mutual settlements. Overchuk also noted that Russia is one of the main investors in Armenia.
"Our investments in the industrial project in Armenia have reached $3.4 billion. Over 40 large Russian companies are operating in Armenia, with some of them being the largest taxpayers to the state budget of Armenia, in addition to direct investments," he emphasized.
