ARKA News Agency, Armenia
Aug 24 2007
Russian capital plays important role in Armenian economy
YEREVAN, August 24. /ARKA/. The Russian capital plays an important
role in Armenia’s economy, Michail Alexandrov, Head of the Department
of the CIS Caucasus Institute, reported the kreml.org online
magazine.
`We’ have established a large-scaled economic cooperation. First of
all, this is cooperation in the sphere of gas and electric power,’ he
said According to Alexandrov, Armenia’s energy sector belongs to
Russia.
He pointed out that Russia participates in the building of a new gas
pipeline from Iran which will supply Armenia with gas, as at present
the gas stream comes mainly from Georgia. Alexandrov believes
unstable relations between Russia and Georgia may cause problems in
supplying Armenia with gas. `This is why Armenia needs alternative
gas suppliers, and Iranian gas is give such opportunities,’ he said.
According to him, Russia will participate in the project of
reconstructing the Armenian nuclear power station. At present, Russia
is actively involved in the sector of cellular communications in
Armenia, as well as in the sphere of minerals, particularly,
aluminum. The Russian expert said `Russian banks are properly
introduced to the Armenian market.’
Alexandrov pointed out that the Russian capital has a lion’s share in
the Armenian economy. In this connection, some `ill-wishers and
grumblers say that Russia has bought Armenia’, he said.
According to Alexandrov, Russia follows the rules of free
competition. `It is not Russia’s fault that no other country except
Russia is interested in Armenian assets,’ he said.
The expert believes if other counties were interested in those
actives, they would compete for them, and the stakes would get
higher. It seems that no one, including the West, is interested in
those assets. This is why, only Russia can make investments in
Armenia, the Russian expert said.
According to him instead of grumbling and complaining, Armenians
should welcome the latest developments, like any other country would
welcome large foreign investments in its economy.
Another important fact is that Russia is open to the Armenian
business, Alexandrov said.
About 1.5mln Armenians live in Russia. They use all the economic
capabilities in Russia, most of them being prosperous businessmen. It
is a sin to complain that Russia purchases something in Armenia, the
expert stated. According to him this is a mutually beneficial
cooperation. Z. Sh. -0–