Russia is Armenia’s leading economic partner: Vladimir Putin

Russia is Armenia’s leading economic partner, Putin announced in a joint press conference with his Armenian counterpart Serzh Sargsyan. “Based on the results of the last year, trade turnover between the two countries increased by 6%. We assess this important result which we achieved in an instable global economic situation,” the Russioan President said, adding that Russian investments in Armenian economy have already exceeded 3 billion USD, while nearly 2 thousand companies with Russian capital operate in Armenia.

“Russia is Armenia’s largest natural gas supplier,” Putin added. Putin also referred to cultural and educational relations between Armenia and Russia. “Nearly 5.5 thousand Armenian citizens study at Russian higher educational institutions over 1500 of which at the expense of Russia’s state budget,” he said.