Russian, Armenian leaders upbeat on bilateral cooperation

ITAR-TASS news agency, Moscow
14 May 04

Novo-Ogarevo, 14 May: Armenian President Robert Kocharyan believes
that the “major Russian-Armenian deal to write off debts in exchange
for property” has made it possible to develop not only military and
technical cooperation but also economic collaboration on the whole. He
said this today at a meeting with Russian President Vladimir Putin.

“Very interesting events are taking place at present in the economic
sphere, for instance, a major Russian bank, Vneshtorgbank, has launched
its work in Armenia. A very interesting contract in the chemical
sphere has been signed: the chemical industry is being developed on
a major scale in Armenia with the help of Russian investments. There
are many examples of Russian businessmen’s active participation in
construction and other spheres,” the Armenian leader said.

According to Kocharyan, ” a major deal on writing off debts in exchange
for property has served as the starting point”. “We used to discuss
the military and technical components of cooperation all the time
before and outline what sectors of economy were lagging behind,” the
Armenian president said. “I can say with full confidence that there has
begun very synchronized progress regarding all the positions,” he said.

[In an earlier report at 0928 gmt the agency said that Putin was
satisfied with the development of cooperation with Armenia, but at
the same time he believed that there was a great potential for future
developments. “Moscow and Yerevan have many opportunities to work
even better and more efficiently,” the agency quoted Putin as saying.

The agency said in a separate report at 0938 gmt that Putin expressed
his hope the current visit would be useful for both sides. “I don’t
only hope, I am confident that your current working visit will be
beneficial for our collaboration and will help us to intensify our
links,” the agency quoted Putin as saying at the talks with Kocharyan.]