MOSCOW. – Russian investments make almost half of all the foreign investments made in Armenia, the Armenian President Serzh Sargsyan said during the talks with his Russian counterpart Vladimir Putin on Wednesday, RIA Novosti reports.

“Russian investments are in comfort in Armenia,” Sargsyan said.

Russian President Putin thanked his Armenian counterpart for having established favorable conditions for the Russian investments.

“I am grateful that Armenia’s administration traditionally supports our investments and does not differ between them and other investors. At the same time it shows continuous administrative support,” Putin said. 

Trade turnover between Armenia and Russia has increased by 11.9 percent last year, as compared to 2010 making $1.1 billion. Export from Armenia to Russia made $222.7 million, while import made over $891.7 million.