TWO ARMENIAN-INDIAN JOINT COMPANIES TO OPEN IN ARMENIA

Azg/am
13 Oct 04

According to Martin Sargsian, chairman of RA Trade-Industrial House,
the most important result of the selling exhibition of Indian goods
and services were two agreements on opening Armenian-Indian joint
companies in Armenia. The first of the companies will produce car
details. The second will produce medicines. Martin Sargsian said this
after signing an agreement on Armenian-Indian economic cooperation
with Gutin, chairman of the Indian Confederation of Producers. Gutin
said that their Confederation has signed over 90 treaties with the
business structures of the world, it has offices in 18 countries of
the world and in the 40 regions of India.

Gutin expressed hope that their organization will soon open an office
in Yerevan, as well, and the signed agreements will be the first
step for the further cooperation between the Armenian and the Indian
businessmen. Gutin stated that in November their Confederation will
hold a large congress in India and they will invite their Armenian
colleagues to participate in it. The Armenian businessmen will
establish new relations with their Indian colleagues and elaborate
a program of priorities for the Armenian-Indian cooperation.

Martin Sargsian said that by signing the agreement on Armenian
and Indian economic cooperation they contribute to establishment of
joint companies, to holding exhibitions and to deepening the economic
relations between the two countries.

The businessmen present at the ceremony stated that during the last
two years the goods turnover between our countries grew. Indian goods
costing $3,3 million were imported to Armenia, while Armenian goods
amounting to $70 thousand were exported to India.

By Ara Martirosian