Russia, Armenia hail bilateral economic cooperation

Russia, Armenia hail bilateral economic cooperation

Xinhua, China
May 14, 2004 Friday


MOSCOW, May 14 (Xinhua) — Development of trade and economic relations
were high on the agenda of the meeting between Russian President
Vladimir Putin and his Armenian counterpart Robert Kocharyan here
on Friday.

Putin said the bilateral trade turnover increased by more than 34
percent in 2003, “a record indicator that we are proceeding in the
right direction,” Itar-Tass news agency reported.

Russia and Armenia have many opportunities to work better and more
effectively, Putin said during the meeting at his Novo- Ogaryovo
residence outside Moscow.

Kocharyan noted that under a major agreement signed last year, Armenia
repays its debt by giving part of its property to Russia. This gave
an impetus to the development of bilateral economic cooperation.

The true economic cooperation came with the “big deal” of debt-
for-property, Kocharyan said, expressing his utmost confidence that
the two sides have started and are moving together on all issues.

Kocharyan was the first visiting foreign guest congratulating Putin
on his second four-year presidency after the May 7 inauguration.