PUTIN SPEAKS UP FOR MORE RUSSIAN INVESTMENTS IN ARMENIA

RIA Novosti, Russia
March 25 2005

YEREVAN, March 25 (RIA Novosti) – Vladimir Putin has spoken up for
the growth of Russian investments in Armenia and welcomed Armenia’s
investments in Russia.

“We are observing a definite growth of Russian investments. So far,
it is not large but the perspective here is very significant”, the
Russian president told the press conference after talks with his
Armenian analog.

“We will also welcome Armenian investments in the Russian economy,
especially the sectors in which Armenia is interested. There are such
sectors – we have spoken about them today”, Putin said.

In turn, Armenian President Robert Kocharyan noted that the potential
of Armenian-Russian economic partnership by large exceeds the current
volume of cooperation.

He said that Armenian-Russian contacts are particularly developing
in capital construction, the banking and energy sectors.

“But it is only a small portion of what can be achieved. It is
a new quality of Armenian-Russian cooperation, which will be of
regional rather then bilateral significance”, Kocharyan told the
press conference after the talks with the president of the Russian
Federation.

“The transport component is a weighty part of the bilateral contacts.
It has always held back the development of Armenian-Russian cooperation
in the economic sphere”, Kocharyan noted.

In his opinion, this problem can largely be resolved with putting
into operation the Kavkaz-Poti ferry line.

“The ferry service has begun. I see it as the start for resolving
the serious problem of transport”, the Armenian president said.

The Russian and Armenian presidents also expressed regret that young
people in the two countries are not very much in association.

When asked by journalists whether there is a problem of the lack
of knowledge of each other’s life among young people in Russia and
Armenia, Kocharyan replied: “Yes, it is regretful but such is the
reality”.

In turn, Vladimir Putin said: “Such a problem exists but it is due
to the limitation of contacts in recent years”.

“It is not so much a political as economic factor”, Putin believes.

The two leaders continually discuss such questions in a bid to resolve
the problem, he said.

“All the integration associations are also concerned with it. The
more insistently we do it, the more effectively such problems are
resolved”, the Russian president said.