Armenia and Russia signed a program of economic cooperation till 2020 within the framework of the 15th session of inter-governmental commission on economic cooperation that was held in Saint Petersburg on Tuesday.

The document was signed by Russian Transportation Minister Maxim Sokolov and Armenian PM Tigran Sargsyan, government’s press service reported.

Commenting on relations between Armenia and Customs Union member states, Sargsyan noted that all prerequisites had been created for Yerevan’s joining the Union.

“The decision on integration with the Customs Union is a balanced, measured and conscious move,” he said.

In his address, Maxim Sokolov said Armenia and Russia had been maintaining mutually beneficial trade and economic relations for many years. Amid difficult economic situation in the world, dynamic of development of Armenian-Russian economic and trade relations remains stable.

“With the decision of Armenia’s accession to the Customs Union, we are entering a new level of our relations. This choice corresponds to the full historical and economic realities, the achieved level of cooperation will definitely become an important part of our strategic partnership in all areas,” the Minister said.