MOSCOW, October 8. /TASS/. The trade turnover between Russia and Armenia increased significantly and may bear the record, President Vladimir Putin said at the meeting with Prime Minister of Armenia Nikol Pashinyan.

"The trade turnover reached $7.4 bln last year and surged by 2.5 times in the first half of this year, being above $8.3 bln," the Russian leader said. "If we continue moving with such pace, it means that this year's trade could reach $14-16 bln; this is a record-breaking figure," Putin noted.

"Trade and economic relations are developing rather vigorously and successfully," the head of state said. "Russia is a leading foreign investor in the Armenian economy - accumulated investments total about $4 bln," Putin stressed. The work of the intergovernmental commission and the business council "provides the relevant good result," he added.