Armenia prioritizes the development of multilayered trade and economic relations with Russia, president Serzh Sargsyan said in his address to the participants and guests of the Sixth Armenian-Russian Interregional Conference and second Eurasian Partnership Forum.

"The economies of our countries are closely interconnected. We are jointly implementing large-scale projects in trade-economic, scientific-technical, cultural-humanitarian and other areas of bilateral cooperation," Sargsyan said.

"Integration processes are undoubtedly contributing to the development of interregional cooperation. First of all, I mean the Eurasian Economic Union, owing to which decentralized interaction has been upgraded to a new, higher level. The Eurasian Economic Union has multiplied the creative potential of our countries, eliminated many obstacles on the way to mutually beneficial economic cooperation."

"Integration has the primary task of implementing all our initiatives and upcoming programs to improve the population’s quality of life and well-being in each region," he added.