Russia continues to be the main economic partner of Armenia, Russian Ambassador to Armenia Sergey Kopyrkin told reporters on Tuesday.

According to him, in 2018, the trade turnover between the two countries increased by 11%, reaching $ 2 billion, which is more than 26% of the total foreign trade of Armenia. The head of the diplomatic mission believes that double-digit growth is an excellent result, given the instability of the global economy.

Kopyrkin noted that the volume of Russian investments in the Armenian economy is 2 billion dollars, and the volume of direct investments in the real sector is almost 125 million dollars.

“In total, 228 Russian companies are operating in Armenia, which develop their activities in leading sectors of the economy (energy, communication, etc.). For of them are large enterprises. In addition, the Russian companies that are among the top 10 best companies in Armenia are the largest taxpayers,” he said.

He added that the activities of Russian business are socially oriented and are aimed at helping socially vulnerable groups of the population, supporting culture, sports, and education.

Sergey Kopyrkin noted that Russia is also implementing projects through the UN, and the total amount of funding is about 12 million dollars.