Tweet
PM VLADIMIR PUTIN HOLDS A MEETING IN ST PETERSBURG WITH PRIME MINISTER OF ARMENIA, TIGRAN SARGSYAN
Office of the Prime Minister of the Russian Federation
www.premier.gov.ru
http://premier.gov.ru/eng/events/news/16774/
Oct 18 2011
Transcript of the beginning of the meeting:
Vladimir Putin: Mr Sargsyan, dear colleagues, I am very pleased to
see you at our extended meeting today.
To begin, I would like to say that according to our estimates, our
economic relations have been developing quite well. Bilateral trade
increased by about 18% last year and by about 15% during the first
six months of this year, meaning we have kept up the pace, and not
a bad pace at that.
I want to emphasise that Russian (cumulative) investments in the
Armenian economy have been increasing. I just had a meeting with
my counterpart from Moldova, where we have just USD 200 million
in (cumulative) investments. The equivalent figure for Armenia is
almost USD 3 billion (USD 2.8 billion). Overall, we have been working
quite well.
Currently, we are working on improving our transport infrastructure.
After Russian Railways was granted a concession of Armenian Railways,
investments in the development of Armenian railway networks have
reached about five billion roubles. I know that they have a rather
effective development programme, and this programme will be executed.
Russian Railways plans to be actively involved in that area. One of
its affiliate companies is currently active there, and will continue
working in that direction.
As you know, on March 1 this year we opened the Verkhny Lars border
crossing between Russia and Georgia. This was done, among other
reasons, at the request of Armenia in order to establish a normal
transportation link. We are aware of the plans to build a north-south
railway and of the requests you have filed to receive funding from the
Investment Fund. But first, we need to evaluate the efficiency of the
project in economic terms. We are both aware of the issue and have
also discussed it with the president. We will consider this project
and together, we will make the necessary economic calculations.
Our relations in the field of energy are quite efficient and
diversified, I would say. These include both nuclear energy and
hydrocarbons. Considering the special nature of this relationship,
Gazprom meets our Armenian partners halfway in many aspects of our
cooperation. I believe we have already provided around 1.06 billion
[cu m], and will supply an additional 1.6 billion by the end of the
year. There can be no doubt that these volumes have been contracted,
that they will be provided and that Armenia will be fully supplied
with gas. In general, our relations have been developing. I am very
pleased to see you here. Welcome!
Tigran Sagsyan: Thank you very much, Mr Putin. For my part, I would
like to add that in the last two years, the economy has been emerging
from the crisis and has been showing more robust economic growth,
which is very promising. And Russian companies feel quite comfortable
in Armenia. There are over 1,200 companies with Russian capital in
Armenia, and their growth rates are quite satisfactory.
Despite the overall economic growth of 2% last year (and the industrial
growth of 14%), agricultural production declined. This year, we expect
a 5% growth rate with an inflation rate of about 5%.
In general, economic relations between Russia and Armenia have been
growing dynamically. In fact, exports of Russian companies in Armenia
have been increasing, about which we are very pleased. Major Russian
investment projects have been showing significant rates of return
recently, which is also very important for us.
In general, I want to emphasise that all joint projects implemented
in Armenia have been successful, and there have been essentially no
failures. Of course, the implementation timelines of some projects
have had to be adjusted because of the crisis, but all of them are
still valid. I also want to thank our Russian colleagues and you
personally, Mr Putin, for the USD 500 million that you provided to
Armenia during the crisis. These funds proved to be very useful in
helping us to address the consequences of the economic downturn.
Vladimir Putin: In 2009, correct? That was the most critical moment.
Tigran Sargsyan: Yes, exactly. We set aside USD 250 million for the
reconstruction efforts in the area affected by the earthquake. This
was in essence a substantial social programme. It stimulated growth
as the funds were invested in construction projects, and at the same
time it also had a significant social aspect, as it allowed people
to move from barracks and trailers into new apartments.
The remaining USD 250 million was invested in infrastructure projects
and in financing the economy. We helped companies that experienced
temporary difficulties, and that made a huge difference for them.
Thank you very much for your assistance.
Vladimir Putin: Please, let's delve in more detail into specific areas.
Office of the Prime Minister of the Russian Federation
www.premier.gov.ru
http://premier.gov.ru/eng/events/news/16774/
Oct 18 2011
Transcript of the beginning of the meeting:
Vladimir Putin: Mr Sargsyan, dear colleagues, I am very pleased to
see you at our extended meeting today.
To begin, I would like to say that according to our estimates, our
economic relations have been developing quite well. Bilateral trade
increased by about 18% last year and by about 15% during the first
six months of this year, meaning we have kept up the pace, and not
a bad pace at that.
I want to emphasise that Russian (cumulative) investments in the
Armenian economy have been increasing. I just had a meeting with
my counterpart from Moldova, where we have just USD 200 million
in (cumulative) investments. The equivalent figure for Armenia is
almost USD 3 billion (USD 2.8 billion). Overall, we have been working
quite well.
Currently, we are working on improving our transport infrastructure.
After Russian Railways was granted a concession of Armenian Railways,
investments in the development of Armenian railway networks have
reached about five billion roubles. I know that they have a rather
effective development programme, and this programme will be executed.
Russian Railways plans to be actively involved in that area. One of
its affiliate companies is currently active there, and will continue
working in that direction.
As you know, on March 1 this year we opened the Verkhny Lars border
crossing between Russia and Georgia. This was done, among other
reasons, at the request of Armenia in order to establish a normal
transportation link. We are aware of the plans to build a north-south
railway and of the requests you have filed to receive funding from the
Investment Fund. But first, we need to evaluate the efficiency of the
project in economic terms. We are both aware of the issue and have
also discussed it with the president. We will consider this project
and together, we will make the necessary economic calculations.
Our relations in the field of energy are quite efficient and
diversified, I would say. These include both nuclear energy and
hydrocarbons. Considering the special nature of this relationship,
Gazprom meets our Armenian partners halfway in many aspects of our
cooperation. I believe we have already provided around 1.06 billion
[cu m], and will supply an additional 1.6 billion by the end of the
year. There can be no doubt that these volumes have been contracted,
that they will be provided and that Armenia will be fully supplied
with gas. In general, our relations have been developing. I am very
pleased to see you here. Welcome!
Tigran Sagsyan: Thank you very much, Mr Putin. For my part, I would
like to add that in the last two years, the economy has been emerging
from the crisis and has been showing more robust economic growth,
which is very promising. And Russian companies feel quite comfortable
in Armenia. There are over 1,200 companies with Russian capital in
Armenia, and their growth rates are quite satisfactory.
Despite the overall economic growth of 2% last year (and the industrial
growth of 14%), agricultural production declined. This year, we expect
a 5% growth rate with an inflation rate of about 5%.
In general, economic relations between Russia and Armenia have been
growing dynamically. In fact, exports of Russian companies in Armenia
have been increasing, about which we are very pleased. Major Russian
investment projects have been showing significant rates of return
recently, which is also very important for us.
In general, I want to emphasise that all joint projects implemented
in Armenia have been successful, and there have been essentially no
failures. Of course, the implementation timelines of some projects
have had to be adjusted because of the crisis, but all of them are
still valid. I also want to thank our Russian colleagues and you
personally, Mr Putin, for the USD 500 million that you provided to
Armenia during the crisis. These funds proved to be very useful in
helping us to address the consequences of the economic downturn.
Vladimir Putin: In 2009, correct? That was the most critical moment.
Tigran Sargsyan: Yes, exactly. We set aside USD 250 million for the
reconstruction efforts in the area affected by the earthquake. This
was in essence a substantial social programme. It stimulated growth
as the funds were invested in construction projects, and at the same
time it also had a significant social aspect, as it allowed people
to move from barracks and trailers into new apartments.
The remaining USD 250 million was invested in infrastructure projects
and in financing the economy. We helped companies that experienced
temporary difficulties, and that made a huge difference for them.
Thank you very much for your assistance.
Vladimir Putin: Please, let's delve in more detail into specific areas.