Russia`s Economy Minister announces Armenia`s Strategic Development Center`s new projects

ArmInfo. In 2024, mutual trade  between Russia and Armenia grew by 1.6 times to reach $11.7 billion.  Maxim Reshetnikov, the head of the Russian economic department,  stated this during a meeting in Moscow with the Minister of Economy  of Armenia, Gevorg Papoyan, and the head of the RA Tourism Committee,  Lusine Gevorgyan, the press service of the Ministry of Economic  Development of the Russian Federation reported.

In the investment sphere, according to him, Russian investments in  Armenia have reached a total of $4 billion. In this regard,  Reshetnikov highlighted that large Russian enterprises are  significant contributors to Armenia's tax revenue. According to the  source, the parties discussed bilateral cooperation in  tourism and  issues related to the activities of Armenia's Strategic Development  Center, which was established in 2022.  Particularly, the Minister  noted that in 2024, the research work conducted by the Center helped  the Ministry of Economy of Armenia identify new opportunities to  enhance the import of Russian goods to the republic.  Additionally,  it helped in pinpointing potential services that could benefit both  the Russian and Armenian economies, and eliminate obstacles to mutual  trade in services with  EAEU countries in the future. The Center's  activities facilitated the  identification of Armenian enterprises'  requirements in digital technologies, paving the way for potential  collaboration with Russian IT companies.

He said that this year the Center for Strategic Development of  Armenia plans to implement four  new research projects. Specifically,  one project will focus on improving government support measures,  another on assessing labor productivity in Armenia, the third on the  prospects for implementing industrial cooperation projects, and the  fourth on evaluating Armenia's potential transition to a "green"  economy. 

Gevorg Papoyan noted that the Center's proposals  will be utilized in  creating a for the development of Armenia's transport  infrastructure and trade logistics to enhance integration into the  transport corridors of the EAEU.  Note that Gevorg Papoyan is  currently on a working visit to the Russian Federation from March 19  to 21.