Yerevan hosting Russia-Armenia investment forum

Issues pertaining to the further development of Russia-Armenia economic cooperation will dominate the agenda of the investment forum that opened in Yerevan on Tuesday.

President Robert Kocharyan of Armenia has forwarded greetings to the forum, saying there were no hindrances whatever to the development of Armenian-Russian partnership. Relations between Moscow and Yerevan are based on common strategic interests and mutual trust, he emphasised.

An increase in bilateral commodity turnover in the past few years was promoted by activities of the two countries' business communities and governments' injections, said the president. He was confident, regular forums would contribute to the Armenian-Russian partnership.

Russian Industry, Science and Technology Minister Ilya Klebanov, leading the Russian delegation to the forum, urged to boost mutual investment as part of bilateral economic contacts.

The forum is involving both countries' government officials and business people. The Armenian delegation is being led by Defence Minister Serge Sarkisyan, co-chairman of the Armenian-Russian commission for economic cooperation.

Spokesmen of over 80 Russian-based companies are taking part in the Yerevan forum.

According to Armenia's National Statistics Service, the two countries' commodity turnover in the first quarter of 2003 made up $75.5 million, /Armenian/ exports accounting for $15.89 million, imports for $59.64 million.