ARMENIA’S BECOMING FINANCIAL CENTER OF TRANSCAUCASUS TO PROMOTE SETTLEMENT OF CONFLICTS IN THE REGION

arminfo
2007-11-13 18:21:00

ArmInfo. Armenia’s becoming the financial center of Transcaucasus
will promote settlement of conflicts in the region. President of
Central Bank of Armenia Tigran Sarkisyan expressed such an opinion
at the press conference dedicated to the round table on the topic
"Armenia as a Transcaucasian regional financial center" held in
CBA. President of Central Bank of the Netherlands Nout Wellink,
who visited Armenia to participate in the work of the round table,
said that Armenia is on the right track to turn the country into a
regional financial center and there is already the necessary platform
for it. In particular, in the recent years two-valued economic growth
is observed in the country. Inflation rate in Armenia is lower as
compared with the neighboring countries and reforms are effectively
implemented. He also said it is necessary to have a developed banking
system for Armenia to become a regional financial center.

T. Sarkisyan also said that during the round table the president of the
Netherlands CB was presented the concept securing Armenia’s possibility
to become a regional financial center. According to him, firstly,
it is necessary to show up financial services, which are in demand
for the neighboring countries and improve the quality of providing
these services significantly. He brought Singapore’s practice as an
example, which became a financial center in spite of the problems
with Malaysia. This seriously changed the situation in the region
and also influenced the political situation and the parties’ positions.

From: Emil Lazarian | Ararat NewsPress