Yerevan/Mediamax/. The volume of Russian investments in Armenia over the last 20 years totaled about $3bln.

Russian Minister of Transport, co-chairman of the Armenian-Russian intergovernmental commission Maxim Sokolov said this in Yerevan today while answering Mediamax’s question about the decline in the volume of direct investments to Armenia.

“It’s early to sum up the results yet. We’ll study the statistics at the end of the year. The investment process has certain discretion. As a rule, investors build their financial plans on the basis of maximum concentration of resources by the end of the year,” he said.

According to the data of the National Statistical Service of Armenia, the volume of direct Russian investments to Armenia in the first half of 2012 decreased by over 80%.

Maxim Sokolov recalled that in 2011 the trade turnover between Russia and Armenia totaled $1bln.

“The statistics of the current year shows that we have already exceeded $800mln during 8 months, thus by the end of the year we will exceed last year’s $1bln,” he said.

An agreement on economic cooperation between Armenia and Russia until 2020 was signed in Yerevan today.

Armenian Prime Minister, Armenian co-chairman of the commission Tigran Sargsyan said that “this document covers almost all cooperation directions between two countries.”