Russia is ready to create Armenian-Russian investment fund, Russian Minister of Culture Vladimir Medinsky told reporters on Friday.

His remark came during the 7th Armenian-Russian Interregional Forum held in Yerevan.

According to him, this issue should be discussed at another level.

“Preparing for today's trip, I learned about our supportive position in this regard. The fund is always a tool for rapid investment in joint projects. There is no need to negotiate with the fund sources as they already exist, the only matter is whether it is profitable or not,” the minister said.

Thus, such funds with other partner countries speed up the process of cooperation, which is very beneficial for business, Medinsky added.

Talking about the relations with Armenia, he noted that Russia is a permanent, reliable partner and ally of Armenia.

As reported earlier, the 7th Armenian-Russian Interregional Forum kicked off in Yerevan on Friday.