The Government of the Republic of Armenia

Deputy Prime Minister Mher Grigoryan together with Russian Deputy Prime Minister Alexei Overchuk attended the opening ceremony of the event "Armenian-Russian economic cooperation. Promising programs" organized in the sidelines of the visit of the business delegation of the Russian Federation to Armenia.

In the sidelines of the event, round-table discussions will be held on the topics of urban economy, energy, environment, as well as innovations. A cooperation agreement will be signed between the Ministry of Economy of the Republic of Armenia, the State Development Corporation of the Russian Federation (ВЭБ.РФ) and the "Development and Investments Corporation of Armenia". 

At the beginning of the event Deputy Prime Minister of Armenia Mher Grigoryan and Russian Deputy Prime Minister Alexei Overchuk delivered remarks.

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The speech of Deputy Prime Minister Mher Grigoryan

Dear Alexei Logvinovich,
Dear colleagues,

I am glad to welcome you in Yerevan, in the sidelines of the visit of the business mission of Russian companies to the Republic of Armenia. This is, in fact, the first event of such a scale and on such a format, the purpose of which is holding a direct discussion with our Russian partners on current issues of the economy and investment environment.

I am confident that our today's work will serve as a good platform for establishing new direct contacts between representatives of the business communities and discussing new promising and mutually beneficial projects and cooperation solutions.

The trade and economic cooperation of our countries continues to gain momentum, including due to the membership in the Eurasian Economic Union. Armenia shows a steady growth of trade and cooperation with the EEU countries. Moreover, it is already obvious that, largely due to the Eurasian integration program, we have managed to significantly reduce the negative economic and social consequences of the pandemic.
In the current difficult situation, trade and economic cooperation with the EEU member states continues to be one of the main guarantees for economic recovery for us, becoming a key positive factor that affects our country's economic growth and foreign trade potential.

I would like to emphasize that in 2019, for the first time, the trade turnover between our countries exceeded the threshold of $ 2.0 billion. Despite the forced restrictions on the movement of our citizens and transportation of goods dictated by the global pandemic, in 2020 we managed to record only a slight decline in bilateral trade. As for the current year, the growth is already obvious. Trade turnover in the first half of the year amounted to $ 1.9 billion (an increase of 16%), with an increase in imports by 9% and exports by 36%.

The main part of the export was precious and non-precious metals, stones and their products, products of mechanical engineering, agriculture, light industry, chemical products, food. It should be noted that the prospects for increasing exports are obvious, first of all, non-raw materials.

All this proves that it would be rational and timely to activate the industrial cooperation and the development of joint ventures and production, to implement joint innovative projects, which will allow to be competitive with foreign partners. It is also necessary to establish organizational-logistic chains, to establish export support centers.

Dear colleagues,

I would like to note that significant development has been registered in the Armenian-Russian cooperation in the spheres of transport, energy, digitalization and healthcare.
According to the agreements reached between our countries, the total volume of investments in the South Caucasus Railway (SCR) by 2024 has increased by 3.7 billion rubles. As a result, in 2021, modern passenger train carriages, new electric locomotives for domestic transport communications, and semi-freight trains were acquired. It is planned to purchase a new four-car electric train in 2022. Thus, by 2025, SCR will virtually completely upgrade all passenger and freight rolling stock.

In the near future, together with the SCR, it is planned to resume the ferry service on the Poti port-Caucasus port route, which will give an opportunity to increase the trade turnover between our countries.

Energy sphere should also be underlined. Within the framework of the cooperation with Rosatom State Corporation, the program of extending the term of operation of the second power plant of the Armenian NPP, including modernization and re-equipment, is in the final stage.

I would like to emphasize that the Armenian side has repeatedly stated that it attaches great importance to the establishment of common electricity and gas markets within the EEU.
I am confident that by joint efforts not only pricing and tariff formation approaches in the EEU common gas market will be agreed over, but also gas transportation tariffs, based on transparency and non-discriminatory approach.

Dear colleagues,
It is obvious that the countries that really develop high technologies, occupy leading positions in all development directions.Digitalization and transition to the new technological order in all state and public spheres is becoming a key trend, which determines the development of political, socio-economic processes at the global, regional and national levels.

This topic will inevitably dominate the agenda of all countries in the long run. Based on that, digitalization, innovation and the latest technologies are considered by us as key tools for creating an effective and active government system and a favorable business environment.

To achieve an effective level of joint projects, we highlight the development of industrial-scientific-technical cooperation, especially the creation of innovative, technological platforms, which will allow to unite the chain of "scientific inventions" , "manufacturing sector", as well as the operation of ecosystems, where engineering companies can implement new ideas. In this sense, the establishment of new industrial and technological centers will be a good basis for deepening industrial cooperation between our countries.

In the context of cooperation in the field of healthcare, I would like to express my sincere gratitude for the support provided by Russia in countering the spread of Covid-19 in Armenia.

Several batches of Sputnik V vaccine have been acquired through the Russian Direct Investment Fund, as well as a technological transfer process for the release of Sputnik Light vaccine in Armenia has been organized.

We consider the sphere of tourism to be one of the most important sectors of the cooperation. We should also consider the possibility of implementing joint investment projects in this area.I am confident that the development of tourism infrastructure and increase of the affordability of tourism services will increase the touristic flows between our countries.

Dear Colleagues,

In conclusion, I would like to express hope that today’s mission of the Russian delegation will be an additional impetus for the development of strategic economic cooperation between our countries, serving as a starting point for organizing similar events in the future.

I wish fruitful work to all the participants of the business mission, to the Russian and Armenian partners both within the framework of the general plenary session and in the framework of personal contacts between the participants.
Thank you.