On May 20, Yerevan hosted an Armenian-Russian business forum within the framework of a visit of Orenburg delegation to Armenia.

“Russia is basic investor of Armenia: around 70% of direct investments to the country come from Russia. The trade relations are also the most developed as compared with other countries. Thus, Armenia attaches importance to cooperation with Russian regions,” Director of the Armenian Development Agency (ADA) Robert Harutyunyan said in his opening remarks.

However, he noted that the trade turnover between Orenburg region and Armenia is too small and does not correspond to the available opportunities.

“The fields of construction, energy, agriculture and food industry basically present interest for the bilateral cooperation,” Harutyunyan said.

An agreement on cooperation between Chambers of Commerce and Industry of Yerevan and Orenburg regions was signed during the business forum.

17 entrepreneurs representing construction, machine building, mining industry, agriculture and other fields arrived in Yerevan from Orenburg.

The trade turnover between Orenburg and Yerevan amounted to $103,000 in 2009, including import - $57,400, export - $45,600. Currently, eight Armenian enterprises operate in Orenburg.