Russia is Armenia’s leading trading partner, says Deputy PM Overchuk

The GDP of the EAEU countries is expected to be over 2.5% in 2024, Russia’s Deputy Prime Minister Alexey Overchuk said in an interview with Expert magazine.

“Armenia’s GDP grew by 12.6% in 2022, while Kyrgyzstan’s GDP increased by 6.3%. In 2023, we observed good GDP dynamics in all five countries of the EAEU,” he added.

Overchuk noted that Armenia’s GDP is expected to grow by 8.5%.

According to Overchuk, the absence of customs and other barriers, as well as the common labor market, contribute to Armenia’s investment potential.

He also noted that Russia holds a leading position in the trade turnover of EAEU partners.

“Based on the results of 11 months in 2023, Russia takes the lead in Armenia’s trade turnover and constantly competes for first place with China in trade with Kazakhstan and Kyrgyzstan,” he said.