MEMORANDUM ON COOPERATION SIGNED BETWEEN ARMENIAN AND INDIAN BUSINESSMEN

YEREVAN, October 11 (Noyan Tapan). A memorandum on cooperation aiming
to strengthen Armenian-Indian economic partnership was signed between
Martin Sargssian, Chairman of the Chamber of Industry and Commerce of
Armenia, and K.K.M. Kutty, Chairman of the Industrial Confederation of
India, on October 11. Acording to Mr. Kutty, the document will allow
the two countries two enlarge trade turnover in the future years,
and found joint ventures. The Industrial Confederation of India will
open an office in Armenia soon to promote Armenian-Indian economic
cooperation. He said the representatives of the Chamber of Industry
and Commerce of Armenia will be invited to participate in next year’s
business forum to be held in India. According to M. Sargssian, the
memorandum will also allow the two countries to cooperate in organizing
exhibitions, as well as to exchange business information. He said
within the framework of the exhibition “In the Indian World” being
held in Yerevan October 10-13, Armenian and Indian businessmen have
reached an agreement to establish joint ventures producing medical
equipment and selling spare parts in Armenia.