Yesterday in Moscow Serzh Sargsyan discussed the process of development of Armenian-Russian economic ties and the perspectives with Russian Prime Minister Vladimir Putin after the meeting with the Russian president. They have reportedly focused on Russian-Armenian economic ties and the perspectives of development. President Sargsyan mentioned that Russia remains Armenia’s main partner in trade and economy and said that this year Armenia’s circulation of products with Russia has increased by 12 percent. The president also spoke about Russia’s over half a billion dollar investments in Armenia’s economy last year, which continue this year as well. "The joint projects that we are working on are proof of our long-term economic ties, including the construction of the new block of the Atomic Energy Station in Metsamor, as well as the modernization and expansion of Armenia’s railway transportation. There are large and long-term investments in the sphere of transportation as well. In reality, we are developing very well," said President Sargsyan, thanking the Russian Prime Minister once again for the loan provided to Armenia. Serzh Sargsyan stated that unfortunately, decline was registered in agriculture in Armenia and Russia due to this year’s unfavorable climate. Putin also expressed his gratitude to the Armenian president and government for creating favorable business environment. President Sargsyan mentioned, in turn, that cooperation between the two countries is developing steadily. "Whereas industry is growing up to 10 percent, agriculture is falling by 17-18 percent. But we hope that our collaboration with Russia will help us get out of the crisis," said the president. Speaking about long-term economic cooperation, he particularly focused on the construction of the new energy bloc of the Armenian Nuclear Power Plant, the modernization and extension of the railway, and large-scale investments in the communications sector. Prime Minister Putin assured that Russia is ready to collaborate and come to terms on all issues through efforts. "Russia is facing serious difficulties with agriculture this year as well and they are linked to the climate. Nevertheless, we responded to our Armenian friends’ request and sent wheat fertilizers in September to ensure good results next year," said the Russian Prime Minister. Putin also noted that Russia is traditionally considered as Armenia’s leading trade and economic partner and that it is needless to speak about the circulation of products, saying it is not at a low level. The Russian premier noted his country too faced problems in the agricultural sector due to unfavorable weather conditions and expressed Russia’s readiness for further cooperation with Armenia in that direction. "True, the circulation of products did fall a little in 2009, but it is recovering. Even in 2009, Russia’s investments increased and they make up a total of 3 billion dollars," said Putin, recalling the 500 million dollar state loan provided to Armenia in June 2009. The Russian Prime Minister expressed hope that it was useful and was given on time to create a sustainable situation in the social and economic spheres. "Our largest companies are actively working in the Armenian market and we express gratitude to you and the Armenian government for creating the necessary conditions for work and collaboration," Russian Prime Minister Vladimir Putin told Sargsyan.
