RUSSIANS BUY EVERYTHING THEY NEED AND THEY DON’T NEED

Lragir, Armenia
Nov 8 2006

The Russian companies buy everything they can buy in the CIS, even if
they do not need to buy, says Mikhail Baghdasarov, citizen of Russia
running businesses in Armenia. He explains this tendency by the fact
that the CIS space is closer to the Russians in cultural and social
terms, and it is easier and more attractive to buy property in this
territory. And they buy because Russia is the richest country in the
CIS. Even despite the tensions with Georgia the Russian companies
buy property there. Gagik Abrahamyan, who owns a diamond company,
agrees with him. He says recently the Russian capital has especially
been interested in Armenia.

"Especially after the recent statement of the Russian president that
Russia is the third by its investments in Armenia, I think soon we’ll
see how many companies will make investments in Armenia," says Gagik
Abrahamyan. According to him, the Russian capital is mainly involved in
building, but presently they are negotiating over Russian investments
in diamond processing.

"I think, in the upcoming meeting with the Russian prime minister, I
think I will participate in it as well, we will discuss this with the
Russian Alrosa Corporation," Gagik Abrahamyan says. He mentions that
the circumstance of the Russian investments certainly has a political
motivation, and the evidence to this is Putin’s statement that it is
a shame to be the third by the amount of investments in Armenia.