MOSCOW. - Russia makes 57% of foreign investments in Armenia for this year, Armenian President Serzh Sargsyan said at a joint press conference with his Russian counterpart Dmitri Medvedev, Armenian News-NEWS.am reports.

Russian investments in Armenia, as a whole, may be characterized as successful.

“I believe that no investment failed in our economy. Russia makes 57% of foreign investments in Armenia for this year. Our economical relations almost reached pre-political relations, which is very important,” Armenian President stated.

According to Sargsyan, change in the protocols of double taxation will be a good stimulus for an active business. Russia has many Armenian businessmen who would like to make investments in their homeland. These changes are adopted to assist them, Sargsyan added.

Regarding European energetic projects in South Caucasus, particularly, South Stream oil pipeline, where Russian Gasprom Company is also included, Medvedev said that economic projects should not create dividing lines.

“I absolutely agree with Sargsyan that energetic projects should not create dividing lines. On the contrary, they should strengthen the collaboration, mutual interaction in the region. We are ready to support various Russian-Armenian projects especially where successful representatives of Armenian Diaspora are included, Medvedev stated.

Armenian President arrived in Russia on October 23 with the state visit. Several documents were signed as a result of negotiations. Serzh Sargsyan will meet Russian PM Vladimir Putin on Tuesday.