Armenia and Russia intend to develop an economic cooperation program for 2022-2025 and create a working group on deepening economic and investment cooperation.
The possibility of increasing the tourist flow and measures to increase trade turnover between the countries are being discussed. Among the key topics are also issues of the environmental agenda and interregional cooperation between Russia and Armenia.
Russia offers effective solutions for the development of transport, energy, social infrastructure and the implementation of promising investment projects in Armenia and throughout the Caucasus region.
Russian companies are ready to provide solutions in the areas of e-government, smart and safe cities, information security, logistics, energy efficiency, distance education and telemedicine.
Armenia is already ahead of many countries in terms of e-governance. Yerevan is also holding talks with Tehran on the creation of a high-tech center. Iran already has extensive experience of such projects in different countries of the world.
Back in 2017, the Chinese corporation Huawei Technologies signed a memorandum with the Ministry of Transport, Communications and Information Technologies of Armenia on cooperation, according to which a smart city was to appear on the territory of the republic. Undoubtedly, the presented investment project needed a certain seriousness. It is still far from being implemented.
Meanwhile, Russia remains Armenia's leading trading partner, which provides almost a third of the republic's foreign trade volume. Since Armenia joined the Eurasian Economic Union in January 2015 and before the pandemic, the growth of mutual trade has doubled. Despite the decline in trade turnover between the countries in 2020, in January-May of this year there was an increase of 10.7% compared to the same period last year.