LET RUSSIA CALM DOWN

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[06:30 pm] 31 October, 2006

"Russia is Armenia’s main partner," claimed Karen Chshmarityan,
Minister of Trade and Economic Development, while commenting on the
RF president’s announcement.

Vladimir Putin was concerned that Russia is in the third place due
to its investments in Armenia, its military partner.

The minister says that Russia was in the first place in 1991 – 2005
by the index of its total investments.

Russia invested 67.5 million USD in Armenia in 2005.

By the way, 42.6 percent of the gross foreign investments and 49.9
percent of the direct investments in 2001 – 2005 were made by the EU
member countries.

An abrupt increase has been perceived since 2003.

Last year the total foreign investments in Armenia outnumbered 400
million USD; 215 million of which was made by the EU countries.

Germany, Greece and France are leaders of investment initiatives
in Armenia.