ARMENIAN PM, WB MANAGING DIRECTOR DISCUSS COOPERATION PROSPECTS

ARKA
Oct 19, 2009

YEREVAN, October 19. /ARKA/. Armenian Prime Minister Tigran Sargsyan
met with World Bank Managing Director Ngozi Okonjo-Iweala on Saturday
and discussed issues related to bilateral cooperation and the current
state of Armenian economy, Armenian governmental press office reports.

The Armenian premier said that Okonjo-Iweala’s visit and frequent
meetings would give a new impetus to cooperation between Armenia and
the World Bank.

Sargsyan spoke about Armenian economy, impacts of the world recession
on the economy and the government’s bailout steps.

He said that the government pursues expansionary policy and pays a
special attention to bailout measures targeting infrastructures and
intensifies its support to small and medium enterprises.

Speaking about economic development prospects, the premier presented
tax and customs administration reforms to his guest.

He said that the government attaches importance to involvement of
international experts in this process.

"Tax and customs reforms will upgrade competitive ability of our
economy, improve business environment and reduce shady dealing."

Issues related to introduction of corporate administration in Armenia,
pension reforms, development of securities market as well as measures
for education, healthcare and insurance sectors were discussed at
the meeting.

The Armenian premier and the WB managing director spoke about
Blue Ocean Strategy that lays favorable ground for forming new,
unconquered markets.

They also discussed possible participation of the World Bank in
restructuring of Armenia’s foreign debt for easing debt burden.

Sargsyan and Okonjo-Iweala attended the ceremony of a new WB office
opening in Yerevan.