Russian, Armenian leaders note progress in economic cooperation

Channel One TV, Moscow
14 May 04

[Presenter] A Russian-Armenian summit has taken place in the
Novo-Ogarevo residence outside Moscow. [Russian President] Vladimir
Putin met Armenian President Robert Kocharyan, who is in Moscow on
a three-day working visit.

The Russian president said he was satisfied with economic cooperation
between the two countries. But he said he thought there was room
for improvement.

[Putin, sitting next to Kocharyan] It is necessary to note that this
work is not just intensive but also fruitful. It is reflected mainly
in the pace of our economic cooperation. The trade turnover between
Russia and Armenia last year rose by more than 34 per cent. This is
a record. In my view, this is the best kind of evidence that we are
moving in the right direction.

[Kocharyan, in Russian] I think the impetus was the major
debt-for-property deal. Prior to that, we had only been discussing
the military technology factor in cooperation and had been saying
that the economic factor was lagging behind. I can now say with total
confidence that we have caught up and are now progressing together
in every field at a synchronized rate.