ITAR-TASS, Russia
February 22, 2014 Saturday 06:07 AM GMT+4

Russian companies playing core role in many sectors of Armenia’s
economy – Armenian PM

YEREVAN February 22

– Russia ranks first among investors in the Armenian economy, with
Russian companies playing core role in many economic sectors, Armenian
Prime Minister Tigran Sarkisyan said on Saturday.

“First and foremost, Russia is our number one investor: in terms of
investments [in Armenia], Russia ranks first, leaving behind the
European Union and the United States,” Sarkisyan said in an interview
with Itar-Tass. “Second, Russian companies are playing a core role in
many economic sector.”

According to the Armenian prime minister, agreements that were reached
by Russia and his country in December 2014 were being implemented.
These agreements were ratified by the parliament and came into effect.

“First of all, they concern the energy sector and our relations with
Gazprom [Russia’s national gas utility] on pricing formulas on Russian
natural gas for the next five years, which guarantee stable and
predictable in terms of price gas supplies to Armenia,” Sarkisyan
said. “It is of principal importance for us that this regime is
already being used for our country, although it was initially planned
that it would be used after Armenia’s joining the Customs Union [of
Russia, Belarus and Kazakhstan]. The Russian side made a concession to
us and this pricing regime, which provides for reduced gas prices for
member countries of the Customs Union, is already pallicable to
Armenia.”

“Apart from that, we have already received first fuel supplies from
[Russian oil major] Rosneft, which will also help Armenia not to
increase fuel prices. Moreover, there might be downwards tendency,
instead,” he stressed.

Talks are underway with Russia’s Gokhran [State Precious Metals and
Gems Repository] on supplies of diamonds to Armenia, he noted.

As concerns the investment sphere, it is cooperation in the free trade
zone on the basis of Yerevan’s Mars works of master controllers. All
necessary normative documents and contracts with the managing company
were signed and implemented last year, he said.

Two business projects have already been endorsed by the Armenia
government, Sarkisyan said, adding that he was “glad that Armenia’s
first tablet computers and telephones will be manufactured in this
free trade zone.”

From: Emil Lazarian | Ararat NewsPress