Today, Russian trade representative in Armenia Alexander Zaytsev presented 2009 bilateral economic relations’ results and prospects for 2010. On the whole he underlined that trade turnover between the countries reduced due as a result of global crisis.

Nevertheless, Zaytsev outlined stable activities of local companies with Russian capital. “Not a single company decayed. Russian investments are fully preserved, as economic crisis did not impact them anyhow,” he pointed out. Zaytsev also hailed positive Russia’s $500m credit allocated to Armenia, as well as work of Armenian-Russian intergovernmental commission, stating that all aspects of bilateral trade-economic relations were discussed at the recent session.

Zaytsev also informed that this year electro-technical production in “Mars” factory jointly with Greek Intercom-telecom Company launches. “No large projects are expected in 2010, positive trends should be preserved. To date, volume of Russian investments totals over $2.5bn, and will reach $5bn in 2-3 years,” trade representative concluded.

A.G.