Russian – Armenian relations

During the recent summit in St. Petersburg on October 18 PMs of Armenia and Russia, Sarkisian and Putin held a meeting. Currently their economic ties are quite successful. Russian investments in Armenia reached USD 3 bln. Only Russian state controlled Gasprom invested in Armenia more than USD 1.6 bln. Currently, as Putin informed, there are activities underway on the development of Armenia’s transport system - railways as well as motorways. Armenian PM Sarkisian stated that in 2010 coutry’s economic growth reached 2 % and it is planned to reach the five percent of economic growth in 2011.He added that Russian companies in Armenia feel themselves very comfortable. There are more than 1200 companies with Russian capital active in Armenia currently.