Eurasian Development Bank: 72% of total direct foreign investments in Armenia come from Russia

13.12.2016 15:30
Eurasian Development Bank: 72% of total direct foreign investments in Armenia come from Russia

YEREVAN, December 13. /ARKA/. Armenia’s investment cooperation with its Eurasian Economic Union fellow member countries comes exactly to inflow of Russian capital, Sergey Ignatov, head of the Eurasian Development Bank’s office in Yerevan, said Monday at the National Assembly.

Armenia has ensured the growth of the total inflow of investments from the Eurasian Economic union countries thanks to direct investments from Russia.

Speaking for Armenian lawmakers, Ignatov said that the accumulated Russian direct foreign investments exceeded AMD 3 billion in 2015 showing a 10% year-on-year growth and accounting for 72% of the total direct foreign investments in Armenia.

He also pointed out that further development of Eurasian integration, with Armenia’s active participation in it and, as a result, expansion of the agenda of Armenia-Russia cooperation, carry many factors for progress and sustainable economic growth in Armenia.

In his words, necessary groundwork is being laid now for creating a network of free trade zones, like the free trade zone with Vietnam, and necessary preparations are under way to seal free trade agreements between the Eurasian Economic Union and Iran, Israel, India, South Korea, Singapore and other countries.

“The activation of negotiation between the Eurasian Economic Union and its largest trade and economic partners – the European Union and China – has positive prospects,” Ignatov said.

The session was focused on Armenia’s economic policy, its economic ties and prospects of cooperation between public and private sectors. --0--


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