ADA AND UMBA SIGN COOPERATION MEMORANDUM

Noyan Tapan
Dec 21, 2007

YEREVAN, DECEMBER 21, NOYAN TAPAN. The Armenian Development Agency
(ADA) and the Union of Manufacturers and Businessmen of Armenia (UMBA)
on December 21 signed a memorandum on cooperation. The document was
signed by the director general of the ADA Tigran Davtian and the
chairman of the UMBA Arsen Ghazarian.

By the memeorandum, the sides will cooperate in encouraging the
foreign investment inflow to Armenia, increasing exports, promoting
the establishemnt of the information society, improvement of the
business environment and the economic rating of the country.

In the words of A. Ghazarian, the cooperation of the UMBA and ADA has
a long history. The purpose of continuing this cooperation on a legal
basis after 5-6 years of joint work is to solve deeper problems and
increase the efficiency of this work.

In his opinion, the ADA is one of the most well-established development
agencies among the similar structures in the region, which has been
also stated by international organizations and investors. He underlined
the importance of joint marketing activities of the ADA and UMBA in
European markets.

T. Davtian said that the ADA envisages signing cooperation agreements
with the RA Chamber of Commerce and Industry, the Union of Banks of
Armenia and other business organizations.

From: Emil Lazarian | Ararat NewsPress