ARMENIA'S GOVERNMENT TO FOSTER CARREFOUR ENTRANCE TO ARMENIAN MARKET

YEREVAN, February 7. /ARKA/. The government of Armenia is set to make
all the necessary efforts to see Carrefour hypermarket at Armenian
market, PM Tigran Sargsyan told reporters on Wednesday.

"I had a meeting with Carrefour representatives, and we discussed
all the issues related to the entrance of the network to Armenia and
its normal operation here. Armenia is quite interested in providing
people with Carrefour's services," he said.

Carrefour entrance may have many favorable factors for the republic's
economy as it can activate competition, create new infrastructure,
increase purchase of agricultural products, and boost exports of
Armenian goods, according to him.

"That is why Carrefour must be opened in Armenia for sure, and we
offered our assistance to the company to foster its entrance to our
market," he added.

As to the reports of some media stating that Russian businessman and
Yerevan's Dalma Garden Mall owner Samvel Karapetyan suspended agreement
with the company, Sargsyan said that as the company representatives
had clarified the sided had signed a memorandum on intentions rather
than an agreement, and some disputes had arisen there.

PM added it referred to the two private companies only, and they are
the ones to work together and reach a compromise.

Zhamanak newspaper (Time) reported earlier referring to its own
sources that Samvel Karapetyan, who owns "Dalma Garden Mall" in
Yerevan, suspended the agreement with Carrefoure as Samvel Alexanyan,
who imports the essentials to Armenia, took pretty active steps to
impede the entrance of the hypermarket in the republic which could
sink his own business.

Carrefour SA French company, the world second largest retail network
after American Wal-Mart, was founded in 1957 in eastern France.

Nowadays the company owns 15,100 stores under different brands in
Europe, Brazil, Argentina, South Africa and Asia. The total personnel
of the company exceeds 400,000 people.

The net profit of Carrefour Group stood at 371 million euros in
2011. -0-



From: Emil Lazarian | Ararat NewsPress