Economic Russia-Armenia Forum gets underway in Yerevan

The Economic Russia-Armenia Forum launched today in Yerevan holding the Second Industrial Exhibition EXPO-RUSSIA ARMENIA 2009.

The participants of SIEE, which is organized by ZARUBEZH-EXPO Company and Armenian Development Agency, are about 70 Russian and joint Armenian-Russian companies in fields of industry, research, energy, pharmaceutical sector, banking services, high technology, food, space navigation, legal assistance, etc.

The opening ceremony was attended by Armenia’s President, Serzh Sargsyan, Russian Ambassador to Armenia, Vyacheslav Kovalenko, deputy director of Russia's agency Rossotrudnichestvo, Igor Morozov, and SIEE Organizing Committee co-chairman and president of Multi Group concern, Gagik Tsarukyan.

The exhibition has the main objective to develop business relations between Armenia and Russia. The SIEE will also hold Armenia-Russia Business Forum and meetings between Armenian and Russian manufacturers.

According to latest statistics trade covers between Armenia and Russia over 2008 stood by $1 059.347 billion, of which export by $208 174.9 million and import by $851 172.5 million. Foreign injections in direct investments in 2008-2009 amounted to about billion dollars USA. And finally there are about thousand companies in Armenia acting with Russia’s capital.