In January-May of the current year, the exports from Armenia to Russia registered a record growth compared to the same period last year. Denis Gonchar, Director of the Fourth Department of the CIS Countries of the Russian Ministry of Foreign Affairs (MFA), announced this in an interview with TASS.

He emphasized that Armenia remains one of Russia's close allies and important partners in the South Caucasus. And the “engine” of cooperation between Moscow and Yerevan is the trustful dialogue between the leaders, as well as the intensive contacts of the heads of governments, ministries, and departments, and the connections between the parliaments of the two countries.

"And despite the global turbulence, a very positive picture has been registered in the trade and economic sphere of the [two countries] countries, cooperation is certainly developing both in the bilateral format and within the framework of the EAEU [(Eurasian Economic Union)]," the Russian diplomat emphasized.

Last year, the mutual trade of goods set records, reaching the $5 billion mark, he added, emphasizing that positive dynamics were observed this year as well. In January-May, trade increased by 86 percent compared to the same period in 2022, making $2.3 billion. Moreover, the exports from Armenia to Russia have increased by a record 3.3 times, which enables to talk about the priority of the Russian market for Armenian producers.

Gonchar added that the growth in the trade of goods between Armenia and Russia is expected to continue, as the capacity of the Upper Lars checkpoint was expanded in mid-June. In addition, at the end of July, regular sea container transportation between Batumi, Georgia and Novorossiysk, Russia was launched with ferries with a capacity of about 12,000 tons.

The Russian diplomat noted that about half of all foreign capital investments in Armenia's economy are Russian, and Armenia’s largest taxpayers in the first half of the year were economic operators with Russian participation: the Zangezur Copper-Molybdenum Combine, and Gazprom Armenia.

"Armenia is one of the main beneficiaries of EAEU participation. In 2022, the amount of Armenian exports to the Union countries increased by $1.6 billion, about three times compared to 2021. Moreover, the export growth indicator in mutual trade with EAEU members is higher than the rate of increase in product supplies from Armenia to third countries," added the director of the Fourth Department of the CIS Countries of the Russian foreign ministry.