Announcement

Collapse
No announcement yet.

Russia And Armenia Preparing Agreement For The Export Of Gas To Yere

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Russia And Armenia Preparing Agreement For The Export Of Gas To Yere

    RUSSIA AND ARMENIA PREPARING AGREEMENT FOR THE EXPORT OF GAS TO YEREVAN IN 2009-2011

    Interfax
    Sept 1 2008
    Russia

    Moscow and Yerevan are working intensively to prepare a midterm
    agreement on the supply of Russian gas to Armenia in 2009-2011,
    a Kremlin source told Interfax commenting on the run-up to Armenian
    President Serge Sargsyan's visit to Moscow.

    "Energy [resources] remain a priority in economic cooperation:
    intensive work is underway for the preparation of a midterm agreement
    on the supply of Russian gas to Armenia in 2009-2011," the source said.

    The source said that during the upcoming meeting between Sargsyan
    and Russian President Dmitry Medvedev, both sides would discuss the
    possibility of expanding trade and economic relations.

    He added that Russia is definitely a leader among Armenia's trading
    partners. According to customs service statistics, in 2007 total
    trade between the two countries came to $821 million while Russian
    exports increased 67% to $655 million. In the first half of 2008,
    trade turnover increased 20% year-on-year to $400 million.

    The source also said that Russia was likely the leading investor in
    the Armenian economy with most funds going into the energy, banking,
    construction, communications, information technologies, mining and
    metallurgical sectors.

    Total capital investment topped $1.3 billion, the source said.

    In addition, the source commented on current interest in expansion of
    the Russian presence in the Armenian banking system, saying that the
    share of Russian banks in the combined charter capital of Armenian
    bands came to over 25%.

    "Recently, both countries have been discussing the possibility of
    implementing new and large-scale joint projects in various production
    and manufacturing sectors, as well as in transportation," he said,
    adding that this would facilitate the doubling of capital investment
    in Armenia in the coming years.

    The source added that there had also been noticeable steps in the
    development of cooperation in precious stones and metals. He cited
    Alrosa (RTS: ALRS) and the Armenian government's 2007 signing of a
    partnership agreement for development in these spheres.

    In addition, the source said there has been dynamic development
    in humanitarian cooperation between the two countries. He cited
    Armenia's participation in the implementation of Russia's plan for
    the development of coordinated multilateral humanitarian efforts
    throughout the CIS.
Working...
X