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Russian Armenian economic relations

By Messenger Staff
Friday, October 22
The Armenian PM Tigran Sarkisian has stated that the financial crisis was a great test for both the Armenian and Russian economies. This test in fact revealed the weak and strong sides of the economy in both countries. The prognosis for both countries in this direction was similar- their economies should be diversified. In Russia, its major export into Armenia is energy, so new types of innovations need to be considered in this direction. While in Armenia the major problem which appeared was the dependence of the country's national economy on the construction business. The partnership between the two countries should facilitate the diversification of the economies of both countries and that should be in compliance with the strategic partnership between the two countries. Currently, there are around 1400 enterprises in Armenia functioning courtesy of Russian capital. As the PM stated, there are other options for developing the relations between two countries.