RUSSIA’S PM OUTLINED MINIMUM PROGRAM FOR ARMENIA

Kommersant, Russia
Feb 6 2008

Russia and Armenia are to attain the trading turnover of roughly $1
billion in the nearest years, Prime Minister Viktor Zubkov announced
today when meeting his Armenian counterpart Serge Sarkisyan in Erevan.

The amount of $1 billion is the minimum program, Russia’s prime
minister specified, drawing attention to the positive dynamics of
economic and trading cooperation between Russia and Armenia and hoping
that the relations will further improve in this field.

By past year’s results, Zubkov went on, the accumulated investments
of Russia in Armenia’s economy stood at around $1 billion. Some $176
million was injected in January through September of 2007, including
the direct investments of $102 million.

Such giants of Russia as Gazprom, RUSAL, Inter RAO are implementing
big investment projects in Armenia, Zubkov said, pointing out that
over 850 joint ventures with the share of Russian capital have been
incorporated in Armenia.

The countries’ turnover grew 65 percent in 2007, Armenia Prime Minister
Serge Sarkisyan said, emphasizing that both states have solid potential
to improve bilateral cooperation.

From: Emil Lazarian | Ararat NewsPress