OREANDA-NEWS. Russia plans to invest $1 billion in the Armenian economy in the near future. The mutual trade turnover of the two countries has grown significantly in 2021, as well as the level of investment. Dmitry Volvach, Deputy Minister of Economic Development of the Russian Federation, said this at the Eighth Armenian-Russian Interregional Forum. His words are quoted by TASS.

The official said that cooperation between the two states is actively developing. Thus, the mutual trade turnover with Armenia in 2021 increased by 17%, while in 2020 the level of trade turnover decreased by almost 4%. In addition, the level of jointly accumulated investments from Russia to Armenia has increased to more than $2.2 billion.

«We know that there are concrete projects worth more than $1 billion that will be delivered to the Armenian economy in the near future», he said.

Earlier, Armenian Prime Minister Nikol Pashinyan called Russia his country's main trading partner. According to him, in 2019, bilateral trade between the two countries exceeded the threshold of $2 billion, and this year a double-digit increase in trade turnover has already been recorded. He also noted that bilateral cooperation between the countries is for the benefit of nations.