"Russia is one of Armenia's largest trade and economic partners," the ministry said.
According to Armenia's national statistics service, Russia accounted for 16.1% of Armenia's foreign trade in January-November 2007, making it the republic's leading trade partner.
Bilateral trade expanded 68.2% in January-November 2007 to $632.1 million, with Armenia's exports rising 74% to $183.6 million and Russian exports to the South Caucasus republic growing 65.9% to $448.5 million, the Armenian statistics service said.
Russia was also Armenia's largest investor in the reporting period, investing a total of $175.9 million in the South Caucasus republic in January-September 2007, including $101.6 million in direct investment, the Armenian statistics service said.