Armenian economy minister, Russian industry and trade minister discuss stimulation of investment programs

YEREVAN. July 6 (Interfax) - Armenian Economy Minister Gevorg Papoyan and Russian Industry and Trade Minister Anton Alikhanov have discussed the development of trade and economic ties at a meeting in Yekaterinburg.

"Current trends in trade and economic relations between Armenia and Russia were discussed at the meeting, as well as expanding industrial ties and stimulating investment programs," the Armenian Economy Ministry's press service said.

The sides confirmed their readiness to continue constructive dialogue with the aim of further developing bilateral trade and economic ties and cooperation in the industrial sector, it said.

Papoyan is in Yekaterinburg as part of the delegation led by Armenian Prime Minister Nikol Pashinyan.

It was previously reported that Russian Prime Minister Mikhail Mishustin held a meeting on Monday with Pashinyan on the sidelines of the Innoprom exhibition, which is taking place in Yekaterinburg on July 6-9. The Russian side expects that the new Armenian government, which will be formed following the elections in the country, will ensure the development of Russian-Armenian relations in the spirit of friendship and consideration of mutual interests, Mishustin said. Pashinyan in turn said that Armenia is committed to further developing relations with Russia and participating in the Eurasian Economic Union (EAEU).

The active rapprochement of Yerevan with the European Union and the discussion of Armenia's possible future accession to the EU drew a negative reaction from Moscow. Russian Deputy Prime Minister Alexei Overchuk said that no one is trying to exclude Armenia from the EAEU, but Yerevan must decide on its choice - the Eurasian Economic Union or the EU, and the sooner the better. At the same time, if Armenia decides to join the EU, some preferences for Yerevan will be lost, customs duties will arise, and gas prices will also change, Overchuk said.

Pashinyan, commenting on the situation, said that Armenia has not set itself the task of withdrawing from the EAEU and is not yet ready to be a member of the European Union. The country's goal is reforming and adapting to EU standards, he said. The head of the European Commission, Ursula von der Leyen, promised Yerevan assistance in the event of Russia increasing prices for natural gas supplied to the country during a visit to Yerevan in early July. In addition, the European Union intends to introduce autonomous trade measures for Armenia that will allow approximately 80% of Armenian exports to be exempted from duties, she said.