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. Last Updated: 07/27/2016

Yerevan, Moscow Deal

The prime ministers of Russia and Armenia have signed a trade and economic agreement for 1994 that seeks to lessen the two countries' trade gap, Interfax reported.

Under the agreement, signed by Viktor Chernomyrdin and Grant Bagratian in Moscow on Wednesday, Russia promised to buy more Armenian products, mainly consumer goods, to alleviate the trade imbalance. According to Interfax, Russian exports to Armenia were worth $47 million last year, while imports were worth only about $11 million.