Economic ties major factor for strengthening of Russian-Armenian relations in 2008

PanARMENIAN.Net - In 2008 Russian-Armenian partnership relations tended to develop dynamically. The election processes of 2008 in neither country had any full effect on bilateral political contacts, as is said in the RF Foreign Ministry review of 2008 on the activities of Diplomatic and Domestic Politics.



Within the framework of promoting a top-level dialogue, the presidents of both countries had six meetings, the country leaders paid mutual working visits. The critical development of the situation in the Caucasus proved the importance of strengthening Armenian-Russian strategic cooperation in order to guarantee stability and security in the region, as is recorded in the RF Foreign Ministry act.



According to the review, military, humanitarian, and inter-regional contacts improved in 2008. Economic relations become the leading factor in promoting all kinds of Russian-Armenian relationship in 2008.



The commodity turnover between RF and RA increased by 19.9% in January-October, 2008 and made $749,2m. "Russia became the main counter-agent in Armenia. The accumulated amount of capital investment in the Economy of Armenia, which by the end of the year was exceeded by 1,8 billion dollars, proved Russia's leading status among the foreign investors. "



The joint gas and energy projects, the collaboration in the field of atomic energy were successfully carried out. "Russia and Armenia collaborated effectively on the issues of reforms and on the effective functioning of CIS, on strengthening the coordination activities within the framework of OCST," as is said in the RA Foreign Ministry review of activities of 2008.