Russia to donate Armenia $42 million to implement EEU roadmapJune 26, 2015 - 19:16 AMT PanARMENIAN.Net - Russia will donate $42 million to the government of Armenia to help implement a string of measures envisaged by the "road map" of Armenia's joining the Eurasian Economic Union (EEU), Russian transport minister Maxim Sokolov, the co-chairman of the Armenian-Russian intergovernmental commission on economic cooperation, said today (June 26). As ARKA reports, speaking at the 16th meeting of the joint task force in the town of Abovyan, 20 km off Yerevan, Sokolov said the money will be used for purchase of equipment and services. According to him, the quality of cooperation between Armenia and Russia improved further after Armenia’s formal accession to the Eurasia Economic Union. "Armenian companies have gained access to the capacious and protected 170-million market of the EEU, which guarantees free movement of goods, services, etc. Our cooperation in the financial sphere is also developing and there are now prerequisites for increasing inflow of foreign direct investment into Armenian economy, first of all into infrastructure, energy and rail transport projects," he added. He further welcomed the high scale of Armenian-Russian cooperation in virtually all areas. "Recently, we have signed 11 intergovernmental agreements, including those on cooperation in the sectors of nuclear safety and supply of gas, oil and rough diamonds,” Sokolov said. Sokolov also noted that despite the change in the economic situation in both countries as a result of devaluation of their national currencies and lower energy prices, the volume of trade showed only a minor decrease. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Ucom Celebrates Telecommunication Day May 17 commemorates the founding of the International Telecommunication Union on May 17, 1865. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. |