Trade and economic relations with Armenia, as a strategic partner in the South Caucasus, are a priority for Russia, RF Minister of Transport Igor Levitin stated at the opening of a regular meeting of the Armenian-Russian Intergovernmental Commission for Economic Cooperation.

“We must do our best to create reliable, efficient and transparent legal underpinnings for developing out trade and economic relations,” Levitin said. Despite the crisis consequences, Russia is one of the leading investors in the Armenian economy. “Our meeting is being held amid dynamic development of Russian-Armenian trade and economic cooperation,” Levitin said. This January-August, bilateral trade turnover totaled U.S. $497.5 million – a 16.3% increase as compared with the corresponding period last year.

Minister Levitin pointed out the Commission’s activities as one of the most effective in instruments for implementing and expanding bilateral trade and economic cooperation and raising competitiveness in the global economic system.