ON BEHALF OF RA PRESIDENT MINISTER OF FINANCE GUARANTEES SECURITY OF
AZERBAIJANI DELEGATION
YEREVAN, APRIL 14, NOYAN TAPAN. The 7th annual meeting of managers of
the Black Sea Bank of Trade and Economic Development (BSBTED) and
Black Sea Business Day will be held in Yerevan on June 5-6. The RA
Minister of Finance and Economy Vardan Khachatrian currently holds the
chairmanship of the bank’s board of managers, which he assumed at the
meeting in Albania in 2004. The BSBTED Secretary General Charalampos
Tsarukhas stated at the April 13 press conference that it is envisaged
to summarize the results of the bank’s 2004 activities and to discuss
future programs at the Yerevan meeting, with special attention being
given to SME and the financial sector, in particular to the issues of
the banking system. In addition to the delegations of the bank’s 11
member states, representatives of a number of international financial
institutions, prominent businessmen and private investors will
participate in Buisiness Day. The advantages and peculiarities of the
Armenian economy will be presented to them in anticipation of future
investments. Ch. Tsarukhas noted that the Black Sea Bank’s first
investment in Armenia was the establishment of a joint financial
service with the Izmirlian Fund – a credit line of 4 mln USD was
opened in 2003 by the service founders to implement direct crediting
of small and medium enterprises (SME). This year, the bank intends to
implement new programs in Armenia. According to Ch. Tsarukhas, the
participation of the Azerbaijani delegation in the SBTED managers
meeting is envisaged. He said that the bank’s activities are aimed at
business development and there must be no problem in terms of
cooperation of the member states. V. Khachatrian stated on behalf of
the Armenian President that the security of Azerbaijan’s delegation
will be guaranteed during their visit to Armenia. The Black Sea Bank
of Trade and Development was founded in 1999 by Albania, Armenia,
Georgia, Azerbaijan, Bulgaria, Greece, Moldova, Romania, Turkey,
Russia and Ukraine. At present, its capital makes 1 bln SDR (about 1.4
bln USD). The bank promotes the economic development and regional
cooperation of its member states through financing both state and
private programs. The bank also envisages to sign in Yerevan a
memorandum on mutual understanding with the European Union, the World
Bank and the European Bank of Reconstruction and Development.
From: Emil Lazarian | Ararat NewsPress