ARMENIAN ENTERPRISES TO BE INVOLVED IN DEVELOPMENT PROGRAM IN CSTO MILITARY-INDUSTRIAL COMPLEX

ARKA
April 28, 2008

YEREVAN, April 28. /ARKA/. The Armenian enterprises transferred
to Russia against Armenia’s national debt to that country must be
involved in development program in the military-industrial complex
of the Collective Security Treaty Organization (CSTO), stated Ivan
Materov, Chairman of the CSTO Intergovernmental Commission for Military
Economy Cooperation.

"All the enterprises must find their niche in the program of the
CSTO Intergovernmental Commission for Military Economy Cooperation,"
Materov told a press conference on the results of the Commission’s
fifth meeting.

He pointed out the necessity for special-purpose programs of
re-operating the enterprises.

The agreement on the transfer of Armenian enterprises to Russia
against Armenia’s $93mln debt to that country was signed in 2002. Under
the agreement the following enterprises were transferred to Russia:
Mars CJSC (estimated at $56.29mln), Yerevan Research Institute of
Mathematical Machines ($2.75mln), Yerevan Research Institute of
Automated Control Systems ($3.37mln), Yerevan Research Institute of
Materials’ Science ($0.35mln), Hrazdan TPP ($31mln).

The CSTO was formed in 1992 by Russia, Armenia, Belarus, Kazakhstan,
Kyrgyzstan, Tajikistan and Uzbekistan.