SPEAKERS OF ARMENIAN AND KOREAN PARLIAMENTS SIGN MEMORANDUM OF MUTUAL UNDERSTANDING

NOYAN TAPAN
DECEMBER 4, 2009
SEQUL

SEOUL, DECEMBER 4, NOYAN TAPAN. The delegation headed by Speaker of
the RA National Assembly Hovik Abrahamian on December 3 met Speaker
of the National Assembly of the Republic of Korea Kim Hyong-O.

Stressing the necessity to deepen interparliamentary cooperation, H.

Abrahamian said that the interparliamentary friendship groups set up
in the parliaments of Armenia and Korea may contribute considerably
to the identification of new fields of cooperation between the two
countries. It was mentioned that there is much potential for further
development of Armenian-Korean links in various spheres.

In terms of using the existing potential in the economic cooperation,
H. Abrahamian pointed out the encouragement of investments by
South Korean companies in the Armenian economy, noting that the
Consulate-General of the Republic of Korea in Yerevan has carried
out efficient activities in this direction over five years – in
the person of Honorary Consul of Korea in Armenia, deputy of the
RA National Assembly Armen Abrahamian. The speaker of the Armenian
parliament attached special importance to the formation of a legal
and contractual field for ensuring the most favorable conditions for
economic cooperation.

H. Abrahamian stated with satisfaction that in recent years Armenia
and Korea have been successfully cooperating in international
organizations, which is due to mutual assistance. In his words, Armenia
values the approaches of friendly countries to the peaceful settlement
of the Karabakh conflict. He expressed a hope that South Korea will
maintain its balanced position. Korea has always taken an impartial
position during the discussions on Nagorno Karabakh at the United
Nations by abstaining in the votes on proposals made by Azerbaijan.

H. Abrahamian said that we share Korea’s concern about the
establishment of security and stability in the region. He underlined
that Armenia is also in favor of peaceful resolution of conflicts,
in this connection noting once again that there is no alternative to
the peaceful solution of the Karabakh problem – a resolution through
negotiations.

H. Abrahamian and Kim Hyong-O signed a memorandum of mutual
understanding for the purpose of further development of friendly
links and cooperation between the two parliaments.

The RA National Assembly’s press center reports that on the same day
the Armenian delegation visited GT Group company which is implementing
construction work at the Yerevan Thermal Power Plant’s power unit
with a combined steam-and-gas cycle.

The president of GT Group said he was informed about the memorandum’s
signing, adding that it would become an important step for fostering
cooperation of the two countries in various spheres. He thanked H.

Abrahamian for assistance with their company’s entrance into Armenia,
expressing confidence that the company will expand its activities
in Armenia. Emphasizing the successful operation of the company in
Armenia, H. Abrahamian expressed a hope that cooperation between
Armenia and GT Group will prove long-term.