We believe that Russia plays a key role on security issues in the South Caucasus, President says.

Armenia has always strived to establish stability and peace in the Caucasus, Armenia’s President Serzh Sargsyan said after talks with his Russian counterpart Vladimir Putin.

“It is the condition for the policy of seeking peaceful and long-lasting solution to the Nagorno-Karabakh conflict. We believe that Russia plays a key role on security issues in the South Caucasus. It is related to Russian leadership’s constructive steps to resolve the Karabakh conflict which are extremely important for Armenia. We are grateful to you, Mr. Putin, for constant attention and moves in this direction,” Sargsyan said.

According to the Armenian President, the country is interested in the continuation of efficient cooperation within the frameworks of international and regional agencies. Armenia will make efforts targeted at raising effectiveness of foreign policy coordination in the international arenas, Sargsyan added.

Russian investments in comfort in Armenia

Russian investments make almost half of all the foreign investments made in Armenia, the Armenian President Serzh Sargsyan said during the talks with his Russian counterpart Vladimir Putin on Wednesday, RIA Novosti reports.

“Russian investments are in comfort in Armenia,” Sargsyan said, News.am reports.

Russian President Putin thanked his Armenian counterpart for having established favorable conditions for the Russian investments.

“I am grateful that Armenia’s administration traditionally supports our investments and does not differ between them and other investors. At the same time it shows continuous administrative support,” Putin said.

Trade turnover between Armenia and Russia has increased by 11.9 percent last year, as compared to 2010 making $1.1 billion. Export from Armenia to Russia made $222.7 million, while import made over $891.7 million.

Russia’s President Vladimir Putin said member states of the Customs Union plan to expand cooperation with Armenia.

Russia, Kazakhstan and Belarus intend to set up a mixed committee with Armenia to develop cooperation with Armenia, he said after talks with Armenia’s Serzh Sargsyan.

He said they will think about some instruments which have been already agreed on by three members of the Customs Union.

Russia, Kazakhstan and Belarus established Customs Union under the agreement as of October 6, 2007. Last November the states put together a joint commission on fostering closer economic ties, planning to create a Eurasian Union by 2015.

News.Az