On 22 December, Yerevan, Armenia, hosted the 20th meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Armenia.
Deputy Prime Minister Alexei Overchuk with Prime Minister of the Republic of Armenia Nikol Pashinyan before the 20th meeting of the Intergovernmental Commission on Economic Cooperation between Russia and Armenia
Before the start of the meeting, Prime Minister of the Republic of Armenia Nikol Pashinyan received Deputy Prime Minister Alexei Overchuk. The officials discussed the results of bilateral trade and economic cooperation in 2021 and prospects for its development. They emphasised their comprehensive efforts to promote economic and investment cooperation and noted the growth of trade. They agreed that there was potential to step up ties between regions and expand dialogue between the business circles of the two countries.
During the conversation, Mr Overchuk and Mr Pashinyan exchanged views on the performance of the trilateral working group co-chaired by Deputy Prime Minister of Azerbaijan, Deputy Prime Minister of Armenia and Deputy Prime Minister of the Russian Federation. They also reviewed prospects for restoring transport links in the South Caucasus.
The meeting of the Intergovernmental Commission was co-chaired by Deputy Prime Minister Alexei Overchuk and Deputy Prime Minister of Armenia Mher Grigoryan.
The parties discussed a broad range of issues of trade and economic cooperation, paying special attention to industry, transport, education, digitalisation and the fuel-and-energy sector.
The meeting participants noted the progressive strengthening of the contractual and legal infrastructure of bilateral relations. Between 2020 and 2021, Russia and Armenia signed a number of new agreements on various aspects of bilateral collaboration, including the intergovernmental Agreement on Cooperation in Mass Communications, Memorandum of Understanding and Cooperation in Competition Policy, and the Memorandum of Understanding on Ensuring Biological Security. Another 20 draft agreements and other documents are in progress.
On September 20 and October 18-19, 2021, Russian economic operators involving over 40 companies sent business missions to Yerevan.
“As before, Russia remains Armenia’s leading trade partner. Between January and October 2021, Russian-Armenian trade reached $2.1 billion, increasing by 9.3 percent on the same period in 2020. Armenia traditionally exports agricultural products and light industry goods. Russia continued to build up its exports of transport vehicles, industrial equipment and mineral products,” the Deputy Prime Minister said.
Regarding development of investment cooperation, Alexei Overchuk stressed that the volume of accumulated Russian investment totaled almost 40 percent of the overall amount of foreign investment in the economy of the Republic of Armenia. Over 40 major Russian companies operate in Armenia.
“Our country is interested in promoting mutual trade and investment more actively. The Russian business community can suggest effective solutions related to the development of transport, energy, and social infrastructure, as well as the digital economy,” he said.
To invigorate trade and economic cooperation, an Intergovernmental Programme for Long-Term Economic Cooperation between Russia and Armenia until 2025 has been drafted. The partners have agreed to sign the programme before the end of the first quarter in 2022.
The sides also stressed the importance of developing inter-regional cooperation between the Russian Federation and the Republic of Armenia.
“To expand ties
between the regions of the two countries, strengthen business contacts, create
joint production ventures, intensify investment dialogue, and to consolidate these
efforts within a single platform, Russia has advanced an initiative to
establish a Russian-Armenia Business Council,” Alexei Overchuk said.
The Republic of Armenia supported this initiative, as mentioned in the final minutes of the Intergovernmental Commission meeting.
The participants made a special mention of the 8th Russia-Armenia Inter-Regional Forum as a platform for discussing topical matters on the bilateral agenda.
Seeking to promote region-to-region ties, the two countries have been working together on drafting the Inter-Regional Cooperation Programme for 2022-2027 and preparing it for signing by the governments of the two countries, Mr Overchuk said. From a practical standpoint, this document provides for supporting joint region-to-region trade and economic projects, including those in manufacturing, healthcare, culture, education, environment protection, and tourism.
Among the items on the bilateral agenda, the meeting participants stressed the importance of promoting ties in education, science, culture and art.
Following up on the agreements between the President of the Russian Federation and the Prime Minister of the Republic of Armenia, the two sides have been proactive in promoting cultural, linguistic and education cooperation, which includes efforts to have more Russian schools in Armenia and enabling universities and research institutions to step up their contacts.
In 2022, Russia and Armenia will mark 30 years of diplomatic relations and 25 years since the signing of the Treaty on Friendship, Cooperation and Mutual Assistance. The two countries intend to exchange visits at various levels, as well as hold cultural and humanitarian events, including the Days of Armenian Culture in Russia.
The meeting concluded with the signing of the minutes of the 20th meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Armenia.
The two sides also signed a plan of action to implement the Memorandum of Understanding between the Ministry of Sport of the Russian Federation and the Ministry of Education, Science, Culture and Sports of the Republic of Armenia, as well as the 2022-2023 programme for carrying out the Memorandum of Cooperation in Environment Protection, signed by the Ministry of Natural Resources and Environment of the Russian Federation and the Ministry of Environment of the Republic of Armenia.
