The development of a new strategic intergovernmental document with Armenia in the medium term has begun. I am talking about an economic cooperation program until 2025, which will specify the main directions of our cooperation. Russian Deputy Prime Minister Alexei Overchuk stated this at Monday’s Armenian Business Forum 2021 in the capital Yerevan.

According to him, they will be specific programs by sectors.

"Cooperation between Armenia and Russia in bilateral and multilateral formats is of strategic importance for us," he said.

Overchuk added that despite the coronavirus pandemic, Russia has maintained its status as Armenia's leading trade partner and ensures virtually a third of its foreign trade.

"Ever since Armenia's accession to the EEU and before the pandemic, a growth in mutual trade was recorded twice—from $1.3 billion to up to $2.5 billion. Last year, the turnover between our countries decreased by 9.5%, but we managed to overcome the reduction in January-July 2021. We should not be satisfied with what we have achieved. There are still many projects and ideas ahead, and the most important thing is the desire to implement them," Alexei Overchuk concluded.