ARMENIA-RUSSIA COMMODITY TURNOVER GROWS BY 12% EVERY YEAR

PanARMENIAN.Net - The volume of the export of the production of the Armenian enterprises to Russia was $ 27 million 2002 first six months. According to the data of RA trade and economic development deputy minister Ara Petrosian, the import form Russia to Armenia was $79 million for the same period. According to him, the growth dynamics of the foreign commerce of Armenia with Russia for the recent years let forecast 12 % export growth this year versus the same figures last year. At present, products of food, mining, chemical industries are exported from Armenia to Russia. The main part of the Russian import to Armenia includes starting materials. Petrosian noted, stable growth of the commodity turnover between Armenia and Russia first of all reached due to the Armenia-Russia 2000 agreement on double taxation elimination according to which Armenian exporters are exempted from VAT in Russia.