Russian president meets with his Armenian counterpart

AP Worldstream
May 14, 2004

Boosting trade between the two former Soviet republics topped the
agenda at Friday’s meeting between Russian President Vladimir Putin
and his Armenian counterpart, Robert Kocharian.

Putin said that trade has increased 34 percent in recent years.

“This is a record indicator that we are moving toward the right
direction,” Putin said.

Kocharian recalled the major agreement last year under which
Armenia ceded control over its only nuclear power plant to Russia’s
state-controlled electricity monopoly in exchange for the cancellation
of US$40 million debts to Russian energy suppliers.

The start of true economic cooperation came with that “major agreement
of debt-for-property,” Kocharian said. “I would like to say with utmost
confidence that we started and are moving together on all issues.”

Putin and Kocharian have met frequently in recent years.