CLOSER ARMENIAN-GEORGIAN COOPERATION CAN MITIGATE GLOBAL CRISIS IMPACT ON TWO ECONOMIES

ARKA
June 25, 2009

YEREVAN, June 25. /ARKA/. Closer Armenian-Georgian economic cooperation
can mitigate adverse impact of the global crisis on the countries’
economies, Armenian President Serzh Sargsyan said Wednesday in
Yerevan, at a joint news conference with his Georgian counterpart
Mikhail Saakashvili.

"I and Georgian President Saakashvili paid special attention to
economic partnership between the countries and joint programs. I
hope this will help mitigate impacts the global crisis on Armenian
and Georgian economies", he said.

In his words, Armenia attaches special importance to the transportation
links passing through Georgia’s territory.

Sargsyan said that Armenia is especially interested in check point
on motor road between Russia and Georgia.

Trade turnover between Armenia and Georgia has reached $421.7 million
over the period between 2005 and 2008.

Georgia’s share in Armenia’s foreign trade turnover of 2005-2008
is 2.7%.

Trade turnover with Georgia has reduced 14.8% Jan-Apr 2009, compared
with the same period of the previous year, to $29.2 million.

Verkhny Lars, checkpoint on Russian-Georgian border was opened on
May 5 after repair.

But in fact, it doesn’t function, because the countries have no
diplomatic relations.