YEREVAN. – In the first half of 2016, exports from Armenia to Russia reached a record high of US$168 million. 

Minister of Economy Artsvik Minasyan told the aforementioned to reporters, after Thursday’s Cabinet session.

He stressed, however, that we need to take into take into account the fact that this refers to absolute volume, without inflation adjustment. 

Nonetheless, as per Minasyan, such an indicator causes optimism, and it enables to assume that Armenian authorities and businesses have succeeded in overcoming the uncertainties in perceiving the procedures for exports to the other Eurasian Economic Union countries—i.e. Russia, Belarus, Kazakhstan, and Kyrgyzstan.

“And that’s why we can expect further growth in exports to the Eurasian Union, especially Russia,” added Artsvik Minasyan.