MOSCOW, March 20. /TASS/. Mutual trade between Russia and Armenia soared by 1.6 times to $11.7 2bln, Russian Minister of Economic Development Maxim Reshetnikov said at the meeting with Armenian Economy Minister Gevorg Papoyan.
The share of Russia accounted for more than 40% of total trade of Armenia and the amount of accumulated Russian investments in Armenia stood at $4 bln, the press service of the Economic Development Ministry said.
"The Center of Strategic Development of Armenia plans to implement four more new research and development projects this year. Each of these directions is called to make a material contribution to growth of economic welfare of the country and efficient cooperation with Russia and other member-countries of the Eurasian Economic Union," Reshetnikov said.
The task of increasing the volume of mutual tourist flows can also become an incentive to strengthen Russian-Armenian cooperation, the minister noted.
"Armenia is a popular tourist destination for Russians," Reshetnikov stressed. "Our nationals visit the republic [Armenia] more actively than other foreigners. In 2024, about one million trips of Russians to the republic was registered - this amounts to 40% of all the tourists visiting Armenia. The air service is well developed. About 100 flights in twelve routes are made weekly," he added.