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.
