Putin stresses importance of interregional cooperation with Armenia

Russian President Vladimir Putin called for development of interregional cooperation between Russia and Armenia.

In his speech at the Russian-Armenian forum in Gyumri, Putin stressed that interregional cooperation is becoming “an important factor of strengthening the trade and economic links”.

“All regions of Armenia and some 70 subjects of the Russian Federation have already been involved in it,” Putin stated, adding Moscow, Saint Petersburg, as well as Rostov, Sverdlovsk, Ulyanovsk, Krasnodar and Stavropol regions have established most active contacts with Armenian partners, with about 30 interregional agreements on trade and economic, scientific and cultural cooperation being signed.

Vladimir Putin stressed that Russia is Armenia’s leading trade partner and the main investor in Armenian economy. In 2012 bilateral trade between Russia and Armenia grew by over 20% and exceeded $1.2 billion. Accumulated investments by Russia amounted to over $3 billion, that is, more than 40% of all foreign investments, the Russian president said.

Speaking about joint energy and infrastructure projects, he mentioned the launch of the 5th unit of Hrazdan Thermal Power Plant, the increase in capacities of the Sevan-Hrazdan hydropower plant system, the extension of the Armenian nuclear power plant’s service life, and modernization of Armenia’s railway network.

Greeting the forum participants, Putin said that “traditions of friendship and trust determine the allied nature of bilateral relations today, too”.

“The city of Gyumri (former Leninakan) struck by a terrible earthquake 25 years ago has become a symbol of mutual support and close ties that bring Russia and Armenia closer together,” V. Putin said.