PUTIN: RUSSIA ON SHAMEFUL THIRD PLACE ON INVESTMENT INTO ARMENIAN ECONOMY

PanARMENIAN.Net
30.10.2006 18:23 GMT+04:00

/PanARMENIAN.Net/ Russian President Vladimir Putin started the meeting
with his Armenian counterpart Robert Kocharian. Putin expects that
investments of Russian companies to the economy of Armenia will
increase. He stated it, when opening the meeting.

"Russia is on shameful third place on investment into Armenian
economy," the Russian leader said. "I say shameful, as it is strange
that Russia is not the first on investment into the economy of its
strategic partner," he explained. "However, trade increases and within
8 months it made 60%," Putin added.

In his turn Robert Kocharian reported that all arrangements between
Yerevan and Gazprom are being implemented. "All serious agreements
on energy projects are entering the phase of implementation," he
said. He noted Russia's record of being the third on capital investment
volume should be changed. "I do not doubt it will change next year
considerably," Kocharian said. He also reported that the practical
implementation of a project of ArmenAl - one of the largest enterprises
in the region - was launched a few days ago, reports ITAR-TASS.