Trade between Armenia and Russia could reach a record level. This was announced by Russian President Vladimir Putin during a meeting with Armenian Prime Minister Nikol Pashinyan on the sidelines of the CIS Summit in Moscow, RIA Novosti reports.

According to Putin, a separate meeting was held before his meeting with Pashinyan with an extended composition, and there is an opportunity to discuss some other matters of mutual interest in a broader format.

Putin noted that trade and economic relations between Russia and Armenia are developing very energetically and successfully. Last year, trade reached $7.4 billion, and in the first half of this year it increased 2.5 times, exceeding $8.3 billion.

"If we move at this pace, this year trade could reach $14-$16 billion," Putin added.

He recalled that Russia is the leading investor in Armenia's economy. According to him, these investments were made within the framework of the intergovernmental commission and the business council.

Also, the Russian president noted the importance of humanitarian cooperation, and said that the two parties should build on some missing points related to cooperation in education.