Transcript of the beginning of the meeting:
Vladimir Putin: Mr Sargsyan, dear colleagues. I am very happy to see you here in Russia. I would like to note what you have most likely discussed with President Dmitry Medvedev and to say a few words about our expanded bilateral trade and economic ties. To the best of my knowledge, the 2010 trade turnover figure had increased 19% and it has climbed by another 14% from January to June 2011. Russian investment in the Armenian economy continues to grow, and now totals almost $3 billion, or $2.8 billion, to be more exact.
Generally speaking, Russian-Armenian relations continue to expand, diversify and develop. Recently, I had the pleasure of holding rather detailed negotiations with the Prime Minister of Armenia. We discussed what else should be done to intensify bilateral relations still further. Overall, our working relationship now is very smooth. I am very happy we have this opportunity to discuss these issues. Welcome.
Serzh Sargsyan: Thank you, Mr Putin. I am happy to meet with you. This is a good opportunity to discuss the prospects for Armenian-Russian relations. We believe that current bilateral relations have reached a strong level. We are satisfied with the dialogue at the government level and an atmosphere that makes it possible to discuss any issue.
It is our opinion that bilateral economic relations are developing quite well. As you have already noted, our 2010 bilateral trade turnover had reached $1 billion. This is a substantial amount for our small country. Russian investment accounts for 57% of foreign investment in Armenia. There are about 1,500 companies, including both Russian companies and joint ventures, and this statistic continues to grow. Our cultural relations also continue to develop rather well. Yesterday and today, we agreed on new quotas. Of course, we would like to discuss the possibility of new programmes which would strengthen our relations still further. Thank you.