TSAKHKADZOR. – The exports of Armenian products to the Russian market have doubled, and trade turnover has reached 1 billion 97 million dollars since Armenia joined the Eurasian Economic Union, Russia’s trade representative in Armenia Andreu Babko said in Tsakhkadzor within the framework of “Eurasian Economic Union: Armenia - Cooperation” business forum.
According to him, this is due to the simplification of customs procedures.
“In 2018, the share of the EEU countries accounted for 27% (or about $ 2 billion) of Armenia’s foreign trade turnover. At the same time, more than 96% falls on bilateral trade between Yerevan and Moscow,” he noted.
Babko added that Russia remains Armenia's main trade partner both in the EEU space and in the international market.
“Russia accounted for more than 53% of the total net direct investment flows to Armenia last year. The volume Russia's direct investment into the real sector of the Armenian economy amounted to more than $124 million. More than 26% of Armenia’s foreign trade turnover falls on Russia,” he emphasized.
Babko noted that in terms of the geography of investments in Armenia, the EEU countries account for more than 36%.