Russia plays a major role in the South Caucasus making serious efforts to establish peace and prosperity here, President of Armenia Serzh Sargsyan said in an interview with the Russian Expert monthly.

Serzh Sargsyan expressed gratitude to the Russian President for his “personal involvement in seeking peaceful solution to the Nagorno-Karabakh conflict.”

“Back in 1994, a ceasefire agreement also became possible thanks to Russia’s mediation. In general, we believe that Russia is truly interested in peace and stability in South Caucasus. Being allies within the CSTO, we regularly consult on issues of peace and security in the area CSTO is responsible for. At the bilateral level, we work closely to improve the efficiency of interaction of the armed forces of our countries. Last year, we signed a protocol prolonging presence of Russian military base in Armenia and expanding strategic responsibilities,” he said.

Speaking about economic cooperation, President Sargsyan stressed that 80 bilateral treaties and agreements have been signed between Armenia and Russia so far.

“We are implementing a number of major joint projects in energy, transport and telecommunication sectors, as well as mining industry. Russia is Armenia’s important trade and investment partner. There are about 1,500 companies with Russian capital, a third of total annual investment falls on Russia. Last year trade turnover between the countries amounted to nearly $1 billion,” Sargsyan said.

Asked about preserving the Russian language, Serzh Sargsyan said that Armenia also has humanitarian ties with Russia pointing out cultural, educational, scientific projects.