Yerevan: Mediamax: The Russian Minister of Economic Development, Maxim Reshetnikov, stated that the replacement of supplies from Armenia will not cause difficulties for Russia.
“The share of Armenia in Russia's total foreign trade turnover does not exceed 0.9%. It will not be difficult for us to replace Armenian supplies,” the minister's words are quoted by TASS.
“The statements of the Prime Minister of Armenia regarding the 'South Caucasian Railway' are an occasion to remind of the advantages that the economy of this country gains from participating in the EAEU and, in particular, from trade with the Russian Federation,” Reshetnikov noted.
According to him, during the period of participation in the EAEU, Armenian exports to the Union countries (from 2015 to 2025) have increased more than 13 times, from 240 million dollars to 3.2 billion dollars.
“More than 80% of traditional Armenian exports — food products, agricultural products, and alcoholic beverages — are supplied to EAEU countries,” Reshetnikov said. He noted that “entering alternative markets requires long-term restructuring of production chains and carries high trade risks.”
