Moscow-Armenia trade turnover was $50m in 2002

Moscow is Armenia's largest trade partner, Yerevan Mayor Robert Nazaryan said on Thursday at the negotiations with Moscow Mayor Yury Luzhkov. The Armenian official was quoted as saying in 2002 the trade turnover between Moscow and Armenia was $50m, the ARMINFO news agency reported.

In his turn, Luzhkov gave a high assessment of the developing cooperation between the Russian and Armenian capitals and emphasized that "it has started to get new shapes and potential". According to the Moscow Mayor, the level of cooperation between Moscow and Yerevan does not correspond to the two capitals' potential. "Moscow is the leader in terms of Armenian-Russian trade turnover, but these volumes cannot be viewed as satisfactory", the Moscow Mayor said.