GORKI, February 5. /TASS/. In view of the forthcoming meeting of the Eurasian Economic Union’s inter-government commission at the head-of-government level, due Friday, the prime ministers of Russia and Armenia have discussed the bilateral agenda and integration cooperation.
"This is our first meeting since Armenia has joined our integration project, the Eurasian Economic Union, I mean," Russian Prime Minister Dmitry Medvedev said at a meeting with his Armenian counterpart Ovik Abramian.
In 2014 Russian-Armenian trade went up 3.2% on the year to $1.5 billion. Russia is the largest foreign investor into the Armenian economy. Its accrued foreign investment stands at about $3.4 billion.
On the list of the largest investment projects is Gazprom’s participation in the construction of gas-fuelled power supply facilities, Russian mobile operator Vimpelcom’s acquisition of all assets of the national communications operator Armentel, and Vneshtorgbank’s acquisition of one of Armenia’s largest banks, Arsberbank, as well as efforts by the Russian Aluminum company to upgrade the Rusal Armenal smelter and the Inter RAO UES project to upgrade the Sevan-Razdan cascade of hydropower plants.