Zubkov: commodity turnover promises to reach $1 billion

PanARMENIAN.Net - Armenian Prime Minister Serzh Sargsyan met Wednesday with his Russian counterpart Victor Zubkov.



The tête-à-tête meeting was followed by enlarged talks which focused on a wide scope of issues. The officials noted progress in economic cooperation, increase of the commodity turnover and Russian investments.



"The high level of political relations demands proper economic cooperation. According to the data provided by the Armenian-Russian intergovernmental commission, the commodity turnover increased by 65% and reached $700 million in 2007," PM Sargsyan said.



"The figure may go up to $1 billion," Mr Zubkov remarked.



For his part, chairman of the Armenian-Russian intergovernmental commission, Russian Transport Minister Igor Levitin said that the RA legislation promotes Russian business into the Armenian market.



The meeting participants referred to Armenian enterprises that passed over to Russia within Property for Debt Treaty. They also discussed military and energy cooperation.



In conclusion, the Armenian Prime Minister said that the visit will become a recurrent step toward development and consolidation of the Armenian-Russian relations.