¾ of Armenia’s economy comprises of Russian companies: Russian trade representative

While making political reforms it is necessary not to forget about formation of favorable atmosphere for investments, Russia’s trade representative in Armenia Andrey Babko told the reporters on Monday.

As to whether the political developments in Armenia affected Armenian-Russian trade relations and volume of investments, Babko said, “Our cooperation has been established before the political developments. They did not have any impact as the process continues as usual. Besides, we see that Armenia and Russia preserve and implement the arrangements reached during the previous years,” he stressed, adding that no changes have been registered in this regard.

“We see activation of contacts between Armenia’s Prime Minister Nikol Pashinyan and President of Russia Vladimir Putin and Russia’s PM Dmitry Medvedev. Another thing is that while dealing with political reforms it is necessary to continue assisting formation of favorable environment for investments,” Babko said.

He though added that certain developments and “revelations” do not have positive impact on the process but expressed hope that everything will settle down.

“The Armenian political figures must understand what Armenia’s economy is comprised of, what companies work here. Let us openly say that the ¾ of them are companies with Russian capital, subsidiaries of Russian leading companies, so the political figures should take it into consideration too,” he said.