YEREVAN. - Armenian-Russian economic cooperation is fully consistent with strategic partnership, said Armenian Prime Minister Tigran Sargsyan.

Speaking on Tuesday at the first Armenian-Russian interregional cooperation forum, Prime Minister recalled that, as of January 1, there are 1400 companies operating in Armenia with Russian capital.

Last year bilateral trade turnover increased by 20%. Armenia’s regions have fifty agreements signed with 17 regions of Russia, he said.

Referring to the global economic crisis and its consequences for Armenia, Tigran Sargsyan noted that “crisis made everyone reconsider the situation.” According to him, an anti-crisis program yielded certain result, but the work was not completed. In this context, Armenian PM thanked the Russian side for a stabilization loan of $ 500 million to overcome the consequences of the global financial crisis.

Premier Sargsayn also noted the 7 main areas of reforms, including agriculture development, formation of information-oriented society, creating conditions for businesses, large infrastructure projects such as construction of new nuclear power plant, Armenia-Iran railway, North-South highway, improving social conditions, equal regional development.