ARMENIAN-RUSSIAN INTERGOVERNMENTAL COMMISSION DISCUSSES ECONOMIC COOPERATION

/ARKA/
September 28, 2009
YEREVAN

YEREVAN, September 26. /ARKA/. Armenian-Russian intergovernmental
commission has discussed economic cooperation at its 11th session in
Yaroslavl, Russia, Armenian governmental press office reports.

Before opening the session the commission co-chairs – Armenian Prime
Minister Tigran Sargsyan and Russian Transport Minister Igor Levitin
had a closed-door talk.

Opening the session, Levitin said that an international forum focused
on the global crisis was held in Yaroslavl recently.

The minister said that global economic stability is going through
trial now.

The Armenian premier thanked Russia for cordial reception and
invitation for celebration of the city’s 1000th anniversary.

Speaking about bilateral economic cooperation, Sargsyan said that
economic developments in Armenia are similar to those in Russia,
because "our economic systems are interdependent and integrated".

"Armenia has over 1,000 companies with Russian capital. Energy systems
and transportation links are connected with Russian economy", the
premier said.

He said that the crisis has stricken hard at Armenian economy in the
first half of this year, but now it can be placed on record with
cautious optimism that some signs of economic growth are already
visible.

It means the government’s bailout steps have produced results.

Sargsyan expressed gratitude to h is Russian counterpart Vladimir
Putin for supporting Armenian government’s bailout measures.

The session participants outlined cooperation prospects and discussed
issues related to the Armenian enterprises handed over to Russia
for debt.

They also discussed further cooperation in energy, culture, transport
and education areas.