Trade Financing Instruments Priorities For Armenia: BTA Investbank

TRADE FINANCING INSTRUMENTS PRIORITIES FOR ARMENIA: BTA INVESTBANK

ARKA
Oct 6, 2008

YEREVAN, October 6. /ARKA/. Armenia should set priorities in trade
financing instruments, said Nur Bakbergenov, deputy chairman of the
BTA Investbank’s Directorial Board.

In 2005, the bank made only a couple of small deals on trade financing
in Armenia.

"Taking into account the global market turmoil, we believe the service
can have a promising future in Armenia," Bakbergenov added.

Trade financing terms will be the same in Armenia as they are in
Kazakhstan, as the bank plans to attract investments from Almaty for
this purpose.

"I hope the terms will be much more favorable than on-hand financing
Armenian banks offer," Bakbergenov said.

He refused to make public the results of the market surveys the bank
had carried out.

In his turn, CEO of Kazakhstan’s BTA Investbank Timur Sabirbaev saud
the bank effected $1bln worth trade financing deals in the first
half. Loan portfolio of BTA Group’s trade financing totals $5.5bln,
covering around 40% of Kazakh market.

"Armenia is capable of giving a start to trade financing and customers
take a keen interest in financial flows," Sabirbaev said.

Taking this into account, the bank has designed a number of attractive
products for Armenian market.

BTA Investbank is the legal successor of the International Investment
Bank established in 1991.

The bank is the strategic partner of Kazakhstan’s leading BTA Bank
which is 48.8% shareholder of Armenian BTA Investbank. The bank’s
other shareholders are the Austrian ZRL (31.1%) and the Kazakh-Armenian
MOBILEX Company (20%).

As of June 30, the bank’s capital and assets totaled 4.6bln drams and
13.3bln drams respectively. Its authorized capital stock amounts to
5.3bln drams. The bank’s first-half negative profit was 775.1mln drams.

According to the ARKA News Agency, BTA Investbank ranks 18th in
terms of first-half assets and is the 15th in terms of loans. The
bank ranks 17th in terms of liabilities and is the 21st in terms of
total capital. It also ranks 11th in terms of the authorized capital
stock. ($1 – 303.20 drams)

EU Welcomes Turkey’s Initiative For Karabakh Conflict Resolution

EU WELCOMES TURKEY’S INITIATIVE FOR KARABAKH CONFLICT RESOLUTION

PanARMENIAN.Net
07.10.2008 13:35 GMT+04:00

/PanARMENIAN.Net/ The EU hasn’t assessed Turkey’s potential for
resolution of conflicts in the Caucasus yet, an EU envoy said.

"The European Union welcomes Turkey’s initiative for resolution of the
Nagorno Karabakh conflict. Mr Gul’s visit to Yerevan is a historical
gesture that will have a future," EU Special Representative for the
South Caucasus, Peter Semneby said.

Turkey’s President Abdullah Gul was in Yerevan on Sept. 6 to watch
a qualifier between the Armenian and Turkish soccer teams.

Later he announced intention to mediate tensions between the Armenian
and Azerbaijani Presidents, claiming that the OSCE Minsk Group failed
to produce effect during 17 years.

From: Emil Lazarian | Ararat NewsPress

Sergei Lavrov: Mediators See Possibility To Resolve Karabakh Conflic

SERGEI LAVROV: MEDIATORS SEE POSSIBILITY TO RESOLVE KARABAKH CONFLICT

PanARMENIAN.Net
07.10.2008 13:54 GMT+04:00

/PanARMENIAN.Net/ Armenia is in blockade over the Nagorno Karabakh
conflict and it’s in the national interest to improve the situation,
Russia’s Foreign Minister said.

"Geographical and political outlets are not many but as soon as
the Karabakh settlement becomes a reality, Turkey will help Armenia
connect with the world though establishing diplomatic relations with
it," Sergei Lavrov said.

Direct meetings between the Presidents with the mediators’ assistance
provided a chance to advance before the Caucasus crisis, according to
him. "A substantial document which includes all settlement principles
and mechanisms was developed," he said.

"There are two or three uncoordinated issues left, specifically
the fate of Lachin Corridor. Presidential meetings are likely to
resume after the Azerbaijani election. As a mediator, Russia sees
a possibility to resolve the conflict," Lavrov said in an interview
with Rossiyskaya Gazeta.

American Experts Share With Their Experience

AMERICAN EXPERTS SHARE WITH THEIR EXPERIENCE

Panorama.am
20:00 06/10/2008

Today the AD Hoc Committee on March 1 events of the National Assembly
held a session and two American experts who have been engaged in the
expertise of September 11 case were also invited to participate in
the session. Christopher Koim, the vice president of the committee
said that their Government was not much interested in discovering the
details of the accident, they were much interested in the struggle
against corruption; the relatives of the victims were insisting on
the reveal of the details and the committee was created based on
those objectives.

According to him, the mission of "September 11" committee was not to
assess or to accuse this or that official. "To keep far from comments
we decided to investigate the facts, as the latter are unchangeable,"
said Mr. Koim.

Another member to the committee Michael Harly who has been an officer
of special service of the US said that during 18-20 months they have
talked to 1200 people, read 2 million documents and found no problems
in the implementation of the work.

"All the documents, records will be opened to the public and people
will assess how balanced and accurate the investigation has been,"
he said.

"September 11" Expertise Gave No Rise To Doubts

"SEPTEMBER 11" EXPERTISE GAVE NO RISE TO DOUBTS

Panorama.am
20:01 06/10/2008

"The activities conducted by our committee were based on the materials
provided by the Special Service of the US, but we were trying to find
some conflicts in that work and find out how accurate they were,"
said Christopher Koim, member of "September 11" independent expert
group in a meeting the members of March 1 Ad Hoc Committee of the
National Assembly.

Remind that 3 members engaged in "September 11" committee are invited
to Armenia to share with their experience.

To S. Nikoyan’s, the President of the Committee, question on how they
managed to speak with ordinary people and with the former officials
and how they managed to enforce them to meet with them, Mr. Koim said
that the pressure of American society has been so powerful that they
did not have to threat anybody.

To another question on whether the result of their expertise was so
perfect that nobody doubted it, as in Armenian reality the work of
the local expert group was doubted, the members said that they had
problems with whom to blame but the expertise was not doubted.

Confeence To William Saroyan’s 100th Anniversary

CONFERENCE TO WILLIAM SAROYAN’S 100TH ANNIVERSARY

Panorama.am
20:03 06/10/2008

On 6-10 October a conference devoted to 100th anniversary of William
Saroyan will take place. Panorama.am has been informed by the Ministry
of Culture that the mission of the conference is to reveal and present
the world various sides of Saroyan’s heritage. 50 literary critics,
writers from USA, UK, France, Russia, Syria and Georgia arrived in
Armenia to take part in the conference.

The organizers of the conference are the Ministry of Culture, the Union
of Writers’, the State Linguistic University named after V. Brusov,
Russian-Armenian Slavonic University, American University of Armenia
and Armenian company of cultural cooperation with foreign countries.

"Bitlis" cartoon is produced by state order devoted to the jubilee
anniversary of the writer, books and collections have been published,
a web site is created specialized on the writer’s life, etc.

Baku: Azerbaijani Foreign Minister: "The Phased Resolution Of The Na

AZERBAIJANI FOREIGN MINISTER: "THE PHASED RESOLUTION OF THE NAGORNO KARABAKH CONFLICT WILL CREATE CONDITIONS FOR EFFECTIVE COOPERATION"

Today.Az
07 October 2008 [13:46] – Today.Az
Azerbaijan

Azerbaijani Foreign minister received EU special representative for
the South Caucasus Peter Semneby, said the press service for the
Foreign Minister of Azerbaijan.

As is reported during the meeting Semneby announced that he is visiting
the region to familiarize with the situation on the spot and noted
that after the recent events in the region Europe is paying more
attention to the Caucasus.

Moreover, stressing the importance of the resolution of frozen
conflicts, Semneby displayed interested in the negotiation process
on the resolution of the Karabakh conflict.

In turn, Mamedyarov noted that the conflict may be settled peacefully,
on the basis of international principles only in the framework of
the territorial integrity. The Minister noted that after withdrawal
of the Armenian armed forces from the occupied lands it is necessary
to restore communications and set trustful relations.

He noted that the phased resolution will be profitable for both sides
and create conditions for effective cooperation.

From: Emil Lazarian | Ararat NewsPress

Nagorno Karabakh Republic President: Nagorno Karabakh’s Independence

Nagorno Karabakh Republic PRESIDENT: NAGORNO-KARABAKH’S INDEPENDENCE AND SECURITY NOT SUBJECT TO SPECULATIONS AND BARGAINING

De Facto
2008-10-07 15:13:00

STEPANAKERT, 07.10.08. DE FACTO. Artsakh’s independence and security
are not subject to speculations and bargaining, Nagorno-Karabakh
Republic President Bako Sahakian said in an interview with Azat
Artsakh newspaper.

Answering a question if Georgian events will influence on NKR foreign
policy Nagorno- Karabakh President noted that change of the situation
in the South Caucasus would be taken into consideration, however,
Nagorno-Karabakh’s principal approaches will not be subject to changes.

"Military-political situation in the South Caucasus has really
changed, and it is taken into account in our policy. However, there
are basic principles, which will remain unchangeable. It is balance of
foreign policy, succession in the Karabakh-Azeri conflict’s peaceful
settlement, talks’ resumption with Artsakh’s participation as a
negotiating party. Our approach to Nagorno-Karabakh Republic’s future
has also remained unchangeable. Artsakh’s independence and security
are not subject to speculations and bargaining", NKR President Bako
Sahakian underscored.

Nagorno Karabakh’s State Budget For 2009 To Be Considerably Increase

NAGORNO-KARABAKH’S STATE BUDGET FOR 2009 TO BE CONSIDERABLY INCREASED

DeFacto Agency
2008-10-07 15:14:00
Armenia

STEPANAKERT, 07.10.08. DE FACTO. Nagorno-Karabakh Republic’s state
budget for 2009 will considerably exceed the amount of the Republic’s
state budget for 2008, Nagorno-Karabakh Republic President Bako
Sahakian said in an interview with Azat Artsakh newspaper.

According to the state’s President, NKR budget for 2009 is on the first
stage of elaboration. "Next year’s budget will obviously surpass the
budget of 2008. Undoubtedly, the budget of 2009 will also be socially
oriented", Bako Sahakian said. "The sums provided by the budget of
2009 for social security sphere will exceed the sums fixed in the
budget of 2008, approximately by 20%", the NKR President stated.

"Naturally, all spheres are important, and there are urgent issues
in each sphere. However, currently agriculture, industry, sphere of
power engineering, education and science, construction are especially
important for our country’s development. Huge programs will be realized
here as well", NKR President noted.

From: Emil Lazarian | Ararat NewsPress

Baku – Stanislav Belkovski: "I Do Not Rule Out The Most Unfavorable

STANISLAV BELKOVSKI: "I DO NOT RULE OUT THE MOST UNFAVORABLE SCRIPTS OF DEVELOPMENTS FOR RUSSIA, INCLUDING ITS COLLAPSE IN THE NEXT DECADES"

Today.Az
07 October 2008 [15:14]
Azerbaijan

Day.Az interview with famous Russian political scientist and founder
of the Institute of National Strategy Stanislav Belkovski.

– Mr.Belkovski, Russia is now sustaining a financial crisis. Don’t you
think that we are dealing with transformation of the political distrust
to Russia into economic losses for it after the Russian-Georgian
military conflict in South Ossetia?

– I think that the Georgian-Ossetian conflict has become a catalyst
but not the reason of the crisis events in the Russian financial
market. Speaking sketchy, one of the main reasons of the discussed
Russian financial crisis was the US financial crisis, which led to the
massive outflow of the western capital from the Russian markets. But
if we go deeper into the details, we will see that the main cause of
the existing crisis lies in the dependence of the Russian development
on external factors, in this case, on the inflow of foreign capital
and world energy prices.

– Then which were the main consequences of the Russian-Georgian
conflict in South Ossetia for Russia?

– I think there were no negative consequences at all. Certainly,
we observed worsening of Russia’s relations with the West, which,
however, did not grow into the break off ties between the sides or
any sanctions on our country. I have always supported the recognition
of independence of South Ossetia ad Abkhazia and I consider that this
step has strengthened our status of a regional player, though it did
not affect our global position in the world and it remained changeless.

– But was it right to recognize the independence of South Ossetia
and Abkhazia by Russia, which suppressed Chechnya’s striving for
independence at the cost of bloodshed?

– I think it is a groundless comparison. The Kremlin had no strategic
lines for recognition of independence of South Ossetia and Abkhazia
and if Georgia had not started military actions on the night of
August 8, we would probably have not witnessed the recognition of
these formations in the next decades and perhaps it would have never
happened.

In the established situation Russia had no space for a political
maneuver and it was obliged to enter South Ossetia to avert the
complete expelling of Ossetians from there. Later on, Russia was
obliged to recognize independence of South Ossetia and Abkhazia,
otherwise, the further opportunities on the legal military presence
of Russia in these republics would have been ruled out. Moreover, we
should not forget that demonstration of weakness by powerful Russia
in this issue, would lead to destabilization in the Russian South
Caucasus, which always valued force.

– Your are distancing from the national interests of Russia,
while I prefer to view the Russian-Georgian war in the sense of
the international law. Was it right to openly ignore principles
of territorial integrity of the states by Russia, witnessed by the
world community in the result of Russia’s military aggression against
Georgia with the further recognition of independence of South Ossetia
and Abkhazia?

– International law exists for registering political
resolutions. Moreover, it has been repeatedly changed throughout the
history. Speaking of the memory of our generation, we can remember
the collapse of the USSR and Yugoslavia, recognition of independence
of East Timor and Kosovo. In other words, it is not actual to speak
about the inviolability of borders after the collapse of several
states and appearance of new ones on the world map.

– Does it mean that you consider Russia’s recognition of the so-called
"Nagorno Karabakh Republic" normal and expected?

– I suppose the recognition of the independence of "Nagorno Karabakh"
is not expected in the near future. As for the events in South Ossetia,
I would like to remind that recognition of its independence was not a
result of the strategic line of the Kremlin but a necessary reaction
to the external factor. In case with Nagorno Karabakh, the Kremlin
has no plans to recognize its independence. The preservation of the
quo status in the South Caucasus is more important for Russia.

– How how long may this quo status exist, if there is a polarization
of outlooks on the ways of the resolution of the Nagorno Karabakh
conflict due to Armenia’s unwillingness to liberate the occupied
lands of our country?

– I am not so well familiarized with the Nagorno Karabakh conflict,
like in case with South Ossetia and, therefore, it is difficult for me
to give an unambiguous answer to this question. But I think, changes in
this status are possible if the United States display a will for it, as
they can encourage the South Caucasus countries for these changes. But
the United States and European Union are so busy with other questions,
especially, the global financial crisis that they will hardly deal
with changing the status in the Karabakh issue in the nearest future.

If speaking about the position of the Kremlin, Russia is not
interested in worsening relations either with Azerbaijan or with
Armenia, therefore, it can not occupy the open pro-Azerbaijani
position in the issue of Nagorno Karabakh. Therefore, I think,
the Kremlin hopes more for continuation of the negotiation process,
but not for the radical changes in the established quo status.

– We are speaking of the Kremlin’s position, considering the current
balance of powers in the world. What do you think about the future
of Russia?

– The nearest future of Russia seems unclear to me for considering
the fact that the provisional start of the Russian civilization
dates to the 9th century, now Russia has neared the critical age
of 1200 years. It is supposed that at this age of historical turns a
civilization may either die or reborn for a new development. Everything
depends on whether the working political elite of Russia will be
able to resist the challenges of the global crisis. Now we see that
it is not. It takes decisions meeting its own interests, but not the
national interests for Russia. If in the end, the ruling elite of
Russia does not find reserves for internal mobilization, I do not
rule out the most unfavorable scripts of development for Russia,
including its collapse in the next decades. Naturally, I continue
hoping that the age of historical turns will end with Russia’s revival,
appearance of a new ruling political elite but now its death.

– Which variant, revived or weak Russia, is more profitable for
Azerbaijan?

– I think that the neighborhood with weak Russia is not profitable for
Azerbaijan, because weak and even collapsed Russia will always be an
exporter of chaos and terrorism to Azerbaijan. At the same time only
powerful Russia can contribute to peace and stability in the South
Caucasus region.