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The future of Armenian-Russian economic relations

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Bilateral interregional cooperation between Russia and Armenia is gaining momentum. Certain steps are being taken to boost economic ties.

The Russian Trade Mission in Armenia cooperates with representatives of Armenian ministries and departments, primarily with the Ministry of Economy, the Ministry of High-Tech Industry, the Ministry of Territorial Administration and Infrastructure. There is an active dialogue on a number of areas from the construction of a new nuclear power plant in the region to cooperation in the field of combating the COVID-19 pandemic.

The most promising joint projects:

- extension of the service life of the Armenian Nuclear Power Plant after 2026 to 2036, where the general contractor is Rusatom Service;

- c onstruction of the North-South road transport corridor, in which the Eurasian Development Bank participates;

- construction of industrial parks,

- d evelopment of trade and cooperation cooperation with Iran, including the use of the potential of the Meghri free Economic Zone in the future.

Negotiations are underway on the establishment of centers for radiation sterilization of medical products in Armenia, the supply of medical isotopes, the use of neutron generators for geological exploration of mineral deposits other than hydrocarbons.

The business community of Armenia is holding discussions with the members of GLONASS JSC on the development of cooperation in the navigation field and the creation of a distributed infrastructure that ensures the operation of devices and systems for calling emergency operational services, similar to the State Automated Information System operating in Russia.

In addition, Armenia and Russia cooperate and develop joint initiatives on individual projects in the field of radio electronics: in the field of microwave, microelectronics, artificial intelligence (AI) systems, including image and video processing, next-generation communication systems (5G), machine vision (ADAS driver assistance system), neural networks, as well as software development, electronic components.

Yerevan Municipality is interested in the services of Russian companies related to the optimization of urban management, the possibility of updating the fleet of buses, elevators in apartment buildings, metro cars.

In the foreseeable future, the Trade Representative Office plans b2b negotiations between business representatives of Moscow, the Moscow region and representatives of Armenian companies. The range of the affected areas is wide: innovations, medicine, food products, construction materials, etc.

In general, against the background of the global economic recession Russia is the leading Armenia's trading partner. In the current conditions, the leadership and business communities of the two countries need to continue the dialogue and develop investment relations.

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Aram Manukyan Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

an American journalist with expertise in the history and politics of Caucasus region

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