Armenian, Russian CCIs sign cooperation agreements

As part of the Armenian-Russian business forum, Yerevan Chamber of Commerce and Industry signed two cooperation agreements – with South Urals Chamber of Commerce and Industry and Ural Chamber of Commerce and Industry.

Minister of Economy Nerses Yeritsyan highly assessed the agreements and expressed hope that they will be a good example for Chambers of Commerce and Industry of other regions of Russia.

According to him, establishment of free trade zone between Armenia and Russia will further boost new investments. Presently, 1,200 companies with Russian capital work in Armenia. Armenia’s business ties with Moscow are most active; more than half of trade turnover between Armenia and Russia falls to Moscow.

The Minister said that Armenia prioritizes sectors of energy, mining and chemical industry, transport, mechanical engineering, construction and information and telecommunication technologies.