Diplomat: Russia  is proving its status as Armenia`s key trade and  investment partner in practice

ArmInfo.  Russia is proving its status as Armenia's primary trade and investment partner  in practice. Mikhail Kalugin, Director of the Fourth Department of  the CIS Countries at the Russian Foreign Ministry, shared with RIA  Novosti his assessment of Armenian- Russian relations this year.

He added that Russia accounts for approximately 37% of the republic's  exports and 32% of its imports. In this regard, the diplomat noted  that more than 40 major Russian business projects have been launched  in Armenia, spanning across industries such as the automotive,  transportation, oil and gas, energy, digital technologies, and  tourism-with a cumulative investment of $4 billion. Numerous joint  educational and cultural initiatives are also being implemented. "The  Russian military base and our border guards continue to be key  elements of security for Armenia and the entire South Caucasus - a  region that is only just beginning to explore the contours of  peaceful development," Kalugin continued.

At the same time, he stated that Moscow sees the republic's  leadership striving to "diversify" foreign policy ties. "The European  Union is trying to capitalize on this. Our response is to enhance  collaboration within the CIS and the EAEU. The advantages of Eurasian  integration are obvious: a huge, unified market, no customs barriers,  and the resolution of issues through mutual respect for the interests  of member countries via the well-established mechanism of the  Eurasian Economic Commission. Armenia's membership in the union is  the foundation of its economic prosperity, and participation in the  CSTO ensures its security.  Unlike Westerners, we know how to  interact on a truly equal and mutually beneficial basis, and we  actively work with states and integration associations destined to  shape the future of global relations. We support a strong Armenia,"  Kalugin concluded.

It should be noted that, according to the RA Statistics Committee,  the trade turnover between Armenia and Russia amounted to $4.5  billion in the first eight months of this year, a 51.3% decrease  compared to the same period last year.