COMMODITY TURNOVER BETWEEN ARMENIA AND GERMANY MAKES 174.5 MILLION DOLLARS IN FIRST HALF OF 2007

Noyan Tapan
Aug 2, 2007

YEREVAN, AUGUST 2, NOYAN TAPAN. Germany is in second place among
Armenia’s partner states in terms of its commodity turnover. The
commodity turnover between the two countries made 174.5 mln USD in
the first half of 2007.

During the August 2 meeting with the delegation of the Chamber of
Commerce and Industry (CCI) of Germany and Cronimet company, the
chairman of the RA CCI Martin Sargsian stressed the necessity of
holding joint business forums, exhibitions, presentations which will
make the opportunities of the two sides more visible.

The CCI director Gagik Vardanian pointed out IT ad mining
industry as the most favorable sectors for mutually beneficial
cooperation. According to him, optical sapphire crystals widely used
in economy and health care are grown in Armenia. 8 kg of such crystals
have already been grown in the country and it is envisaged increasing
this volume to 30 kg in the near future.

At the meeting, Cronimet’s founding chairman Gunther Pilarski, who
owns 70% of shares of the Zangezur Copper and Molybdenum Enterprise
company, was presented with a Mercury award for his great contribution
to development of the Armenian-German cooperation.