Month: June 2022

CivilNet: Turkey once again denies flight permit to FlyOne Armenia

Ani Tigranian
CIVILNET.AM

27 Jun, 2022 07:06

  • The US Congress has received a decision from President Joe Biden’s administration to again waive section 907, a piece of legislation that restricts most U.S. aid to the Azerbaijani government.
  • Armenian private airline FlyOne Armenia has been denied a permit by Turkish aviation authorities for its flight to Lebanon.
  • Armenian Foreign Minister Ararat Mirzoyan met with Greek Prime Minister Kyriakos Mitsotakis in Athens.

Turkish press: Türkiye supports ‘immediate’ opening of strategic Zangezur corridor

Antonian Lara
Faruk Zorlu and Burak Dag   |27.06.2022


ANKARA

Türkiye supports dialogue to thaw relations between Azerbaijan and Armenia and the immediate opening of the Zangezur corridor, the Turkish foreign minister said Monday.

In a joint press conference with his Azerbaijani and Kazakh counterparts, Mevlut Cavusoglu said: “We strongly support the Zangezur corridor, which will provide a connection between the western regions of Azerbaijan and Nakhchivan,” an exclave of Azerbaijani territory currently reachable only through Armenia.

Earlier on Monday, a trilateral meeting was held between the ministers of foreign affairs and transport in Azerbaijan’s capital Baku.

“We are expecting the opening of the corridor immediately,” Cavusoglu said, adding that this development will have a positive impact on the region.

Azerbaijan’s President Ilham Aliyev said in late May that Baku agreed with Yerevan on the opening of the Zangezur corridor, including the construction of both railways and highways.

Following the completion of the railway, Azerbaijan will be able to reach Iran, Armenia and Nakhchivan. The railway will also link Türkiye with Russia through Azerbaijan.

Armenia and Azerbaijan fought a 44-day war in September 2020 over Nagorno-Karabakh, a territory internationally recognized as part of Azerbaijan, and seven adjacent regions.

The war, which ended with a Russia-brokered peace deal, saw Azerbaijan liberate several cities and over 300 settlements and villages that were occupied by Armenia for almost 30 years.

Russia-Ukraine war

Referring to the grain supply shortage caused by the Russia-Ukraine war, Cavusoglu said supported by the UN, Türkiye is making all-out efforts to solve the issue.

“We have seen once again in this crisis how important sustainable and safe transportation lines are,” he said.

Ukraine is among the leading exporters of grain in the world, however, Russia’s continued blockade of Ukraine’s Black Sea ports has created a global food shortage.

Türkiye has been pushing Ukraine and Russia to reach a deal to resolve the issue with Russian Foreign Minister Sergey Lavrov visiting Ankara last week.

Underlining that Türkiye made “significant investments” to increase its national and regional capacity, Cavusoglu highlighted the importance of the projects such as the Baku-Tbilisi-Kars railway, the Baku-Tbilisi-Ceyhan pipeline and TANAP pipeline, which were earlier put into operation in the region.

The Turkish foreign minister added that the tripartite meeting will also contribute to the work of the Organization of Turkic States, a regional body.

“We are once again demonstrating our common will for the spread of peace and prosperity in our region and the transformation of the Turkic world into a more integrated structure in the future,” he said.

For his part, Azerbaijani Foreign Minister Jeyhun Bayramov said: “During the talks, we focused on the development of the Trans-Caspian Corridor and the current freight traffic accordingly.”

“If particular attention is paid to current issues, ways can be found to expand our transport and communications cooperation to eliminate obstacles,” he said.

Bayramov stated that the new realities that emerged after the liberation of Azerbaijani lands from the Armenian occupation were also on the agenda of the meeting.

“The Zangezur corridor plays a special role in establishing a route to the European Union, Türkiye and Asia,” he said.

Moreover, Kazakhstan’s Deputy Prime Minister and Foreign Minister Mukhtar Tileuberdi said: “Our goal is to further strengthen the relations between our countries.”

Baku declaration signed by Türkiye, Azerbaijan, Kazakhstan

Following the tripartite meeting, the foreign ministers signed the Baku Declaration.

At the top huddle, participants discussed ways to develop the potential of the Trans-Caspian East-West Middle Corridor Initiative.

Also called the Middle Corridor, the network of railways and roads starts in Türkiye and covers Georgia, Azerbaijan, the Caspian Sea and Central Asia to reach China, making it an important effort to revive the ancient Silk Road.

Turkish press: Azerbaijan’s president, OIC chief discuss promotion of Islamic solidarity

Antranik Varosian
Ahmed Asmar   |27.06.2022


ANKARA

Azerbaijani President Ilham Aliyev met on Monday with Secretary-General of the Organization of Islamic Cooperation (OIC) Hissein Brahim Taha to discuss the bloc’s vision to promote Islamic solidarity and joint Islamic action.

The meeting was held on the sidelines of the 11th session of the Islamic Conference of Tourism Ministers in the capital Baku.

“President [Aliyev] pledged Azerbaijan’s full support to the Secretary-General’s vision and mission to protect and safeguard the interest of the Muslim world,” the OIC said in a statement.

During the meeting, Taha congratulated the Azerbaijani leader on the liberation of its territories from Armenian occupation and voiced support to the country’s efforts to reconstruct its liberated areas.

On Sept. 27, 2020, a 44-day conflict ended with Azerbaijan’s liberation of several cities and over 300 settlements and villages that had been occupied by Armenia for almost three decades.

India, EU resume talks for free trade agreement

Karagyozian Lena

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YEREVAN, JUNE 27, ARMENPRESS. India and the European Union (EU) will hold the first round of negotiations around the free trade agreement (FTA) on June 27 after a 9-year pause, Doordarshan India reported.

“The first round of talks around the free trade agreement will be held today in New Delhi. The discussions will last for five days, until July 1”, the TV said, adding that the sides are expected to focus on reaching agreements around investment protection issues, facilitation of trade deals over agricultural goods, etc.

India and EU have started the talks on signing a free trade agreement in 2007, however, they were suspended in 2013 due to some disagreements between the sides.

Amulsar gold mine: a test for Armenian democracy, a human and environmental failure for development banks

Anna Tamamian
28/06/2022

Paris, Yerevan, — The International Federation for Human Rights (FIDH), its Armenian member organisation, the Civil Society Institute, and CEE Bankwatch Network, publish a report on the multiple human rights and environmental abuses linked to the Amulsar gold mine project in Armenia. Located in a particularly sensitive area, and home to several protected species, rivers, and water reservoirs that are vital to the nearby spa town of Jermuk, the project has been plagued by major risk management problems and allegations of corruption since its inception in 2007.

Read the executive summary here.

For 15 years, two of the world’s largest development banks financed an Armenian gold mine that harmed the environment and the rights of local communities. Civil society activists were critical of the mine, blocking its entry and taking the case to court. Weakened by the armed conflict with neighbouring Azerbaijan, the Armenian government, elected after the 2018 Velvet Revolution amid promises of democratic reform, wants to reopen it and just passed a law that could weaken civic participation in mining projects.

Taking advantage of Armenia’s opaque governance of natural resources, Lydian, a company listed on the Toronto Stock Exchange until 2020, developed the project without seriously consulting local affected populations. As early as 2018, 85.7% of the surveyed inhabitants of Jermuk reported impacts on their health such as asthma attacks, lung diseases, headaches, and insomnia.

“During the Velvet Revolution, Armenians’ voices grew freer and mobilisation against the project became very strong,” explained Inga Zarafyan, president of EcoLur informational NGO. “Our protest is based on serious assessments provided by dozens of independent experts and on reliable scientific data.”

“After all these years, we have the right to challenge unreasonable and anti-democratic decisions. But the mining company is doing everything it can to stop us.”

Inga Zarafyan

In 2018, Lydian launched no fewer than 20 “SLAPP suits” – legal actions designed to silence or intimidate – against human rights and environmental defenders, journalists, and even a member of parliament. Critical voices are regularly subjected to smear campaigns. Despite such smear campaigns and repression, the neighbouring populations set up a blockade at the entrance of the mine that lasted over two years, from 2018 to 2020.

The report highlights the failure of the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC, a branch of the World Bank) – two multilateral development banks that respectively supported the project from 2007 to 2017 and 2009 to 2021 – to uphold their human rights and environmental obligations in accordance with international standards and their own policies. The development banks have so far refused to shoulder any responsibility for the project’s failures or to provide remedy for the damage caused to local communities. In 2014, the EBRD’s internal grievance mechanism held that two complaints filed by affected people were ineligible, before the bank’s new complaints mechanism finally launched a compliance investigation in 2020, which is ongoing.

“The IFC and the EBRD failed to bring high standards of transparency, participation in decision-making and accountability to the mining project.”

Fidanka Bacheva-McGrath, strategic area leader at CEE Bankwatch Network

“Instead of leading by example and adding value, the EBRD refused to communicate to civil society about Amulsar and tolerated dozens of SLAPPs by Lydian, which was unprecedented in our experience,” said Fidanka Bacheva-McGrath. “I hope the EBRD’s accountability mechanism will soon deliver a critical review and recommendations for effective remedy.”

Amulsar can be seen as a test for Armenia’s young democracy, which in three years has experienced a revolution, the consequences of the pandemic, and then a harsh armed conflict that has caused heavy human, moral, territorial, and economic losses.

Under intense diplomatic and economic pressure, the Armenian government approved a five-year action plan in November 2021, that included operating the Amulsar mine.

In addition to recommendations to the development banks and Lydian, the report calls on the Armenian government to revoke Amulsar’s licences and urgently implement all of the recommendations of international experts from the UN and the Bern Convention who have reviewed the situation.

“We are concerned by the recent turn of events in Armenia. The government seems to be enacting dangerous reforms that could further weaken citizen participation in decision-making around mining projects, instead of learning the lessons from Amulsar,” explained Artak Kirakosyan, director of CSI and vice-president of FIDH.

“Yes, reform of mining regulation is needed. But only if it prioritises the effective participation of affected communities and the protection of human rights and the environment.”

Artak Kirakosyan

The full report is available in Armenian and English.

Read the executive summary in French, in Armenian, or in English below:

 

​Armenia Plans to Normalize Relations with Turkey, Pashinyan Says

Ani Tigranian
TASNIM News Agency

Iran –

Armenia Plans to Normalize Relations with Turkey, Pashinyan Says

June, 28, 2022 – 12:10 Other Media news

TEHRAN (Tasnim) – Armenia sees opportunities to normalize relations with Turkey and will do everything to take advantage of them, Armenian Prime Minister Nikol Pashinyan said during an online press conference.

At the same time, according to him, the statements made by Turkey about the “Zangezur corridor” hinder the process of the Armenian-Turkish settlement, but this does not mean that Armenia will stop the dialogue with Turkey, RIA Novosti reported.

Baku insists on laying the so-called Zangezur corridor, which will connect Azerbaijan with the Nakhichevan Autonomous Republic through the Syunik region of Armenia.

Azerbaijan’s future plans include the connection of Zangilan, located in the region of Eastern Zangezur, with Western Zangezur, and then through Ordubad with Nakhichevan and Turkey. Yerevan does not agree with the idea of a transport corridor from the western regions of Azerbaijan to Nakhichevan through the territory of Armenia. In Armenia, they say that we can talk not about a corridor, but about a road.

There are no diplomatic relations between Turkey and Armenia, the border between the two countries has been closed since 1993 at the initiative of Ankara. Difficult relations between the countries are caused by a number of circumstances related, in particular, to Ankara’s support for the Azerbaijani position on the Karabakh problem and Turkey’s sharp reaction to the process of international recognition of the 1915 Armenian genocide in the Ottoman Empire.

On January 14, Moscow hosted the first meeting of special representatives for the normalization process between Armenia and Turkey – Deputy Chairman of the Armenian Parliament Ruben Rubinyan and former Turkish Ambassador to the United States Serdar Kilych. As the Russian Foreign Ministry reported, the parties during the talks showed their readiness to conduct a dialogue in a constructive, non-politicized manner. Two more meetings were held in Vienna.

Armenian Prime Minister Pashinyan: “Baku is trying to legitimize another war”

Nahapetian Samvel


  • JAMnews
  • Yerevan

Pashinyan’s online press conference

“Baku wants to legitimize another war, therefore it refuses dialogue, publicly accusing Armenia [of refusing to participate in the negotiations]”, the Armenian Prime Minister said. After a five-month break, Nikol Pashinyan held another online press conference, already the fourth in this format.

This caused indignation of more than 30 media resources, which decided to boycott the press conference and did not send questions to the prime minister’s office. Their joint statement said that the online format was justified during the pandemic, but now was the time to restore direct contact with journalists.

PM Pashinyan’s press conference began with an address to the media that had boycotted it. The prime minister said that he had chosen this form of communication, considering it an opportunity, not coercion, and “there will always be a reason for a boycott”.

  • PM Pashinyan: “Any alternative to peace will be disastrous – both for NK and Armenia”
  • «They shot us in foot»: Pashinyan blames former government for failed Karabakh negotiations

Speaking about the complicated relations with Azerbaijan, the Prime Minister of Armenia stressed that the unblocking of economic and transport communications in the region is the obligation of both countries. This is not a unilateral demand to Armenia, but a point of a joint statement signed with Azerbaijan on the cessation of hostilities in Karabakh.

“But Azerbaijan is trying to resolve the issue in a way that would leave Armenia in the blockade”, Pashinyan stressed.

According to him, the choice of routes for unblocking the region is small, a maximum of five options can be considered. But Baku is trying to politicize this technical issue, the prime minister believes:

“No one can be more interested in the issue of [unblocking] routes than we are․ Because we are faced with the task of sending as much international transit as possible along these roads, which will bring income to Armenia”.

“It is not so easy to be a direct, honest, reliable partner for both Russia and the West, our duty is not to betray anyone” – Armenian PM Pashinyan’s interview to Al-Jazeera TV channel

According to the Prime Minister, Baku wants to legitimize a new war.

It is for this reason that the Azerbaijani side refuses dialogue, Pashinyan and cited a few examples. A meeting of the Secretary of the Security Council of Armenia and the Assistant to the President of Azerbaijan was scheduled for June 27 and was canceled by Baku. Armenia offered to meet at the level of foreign ministers, but has not received an official response yet.

Meanwhile, the President of Azerbaijan earlier accused Armenia of allegedly rejecting a proposal to hold a trilateral meeting in Tbilisi at the level of the foreign ministers of Armenia, Azerbaijan and Georgia. And the Armenian Foreign Ministry had to refute this information.

According to Pashinyan, Baku demonstrates the same approach in connection with the work of the commission on the delimitation of the Armenian-Azerbaijani border. He believes that Azerbaijan is trying in this way to create the impression that Armenia is avoiding participation in the work of the commission:

“However, reality is different. During May, the Azerbaijani side canceled or postponed this meeting twice”.

Shot from the press conference

According to the prime minister, preliminary discussions have already been held with Azerbaijan on the peace treaty and there are agreements to continue work. Therefore, Pashinyan considers “very strange” Baku’s statements that “Armenia is dragging out negotiations on a peace agreement.”

“As a result of the discussions, it was decided that the officials of Armenia and Azerbaijan should keep in touch with each other, but we already have at least one such case when Azerbaijan boycotted the work contrary to the agreements,” Pashinyan stressed.

The provisions of the agreement and a number of other issues are yet to be discussed. The Prime Minister assures that there is no other document at the negotiating table, except for the one already published.

This is a five-point document from Azerbaijan on the principles on which the peace treaty should be based. The Armenian side announced that there is nothing unacceptable in it, but it does not cover the entire agenda of issues to be discussed, and added its 6 points.

Political observer Hakob Badalyan believes that Azerbaijan is trying to solve its main task – “to dictate its own agenda and its own conditions for the peace process”

During the press conference, Pashinyan also spoke about the transfer of new territories to Azerbaijan. After the completion of the construction of an alternative road to the Lachin corridor, which connects Armenia with NK, the territories outside the former Nagorno-Karabakh Autonomous Region will come under the control of Azerbaijan. This refers to the city of Berdzor (Lachin), as well as the settlements of Agavno and Sus.

“We are solving the problems of the inhabitants of Lachin [the government of Armenia], they, of course, should be provided with apartments. In fact, families do not live in Lachin today. I think that the problems of the residents of the village of Aghavno will be resolved at the expense of the government of Nagorno-Karabakh․ I can’t say anything about Sus, I don’t have any information at the moment”.

According to the prime minister, the purpose of building a road bypassing Lachin is to provide a “more reliable” road connection between Armenia and Nagorno-Karabakh. Pashinyan has confirmed that there is a preliminary agreement on the construction of the road and the transfer of territories to Azerbaijan. But the prime minister believes that there can be no question of this happening this or next week.

According to the 2020 tripartite declaration of cessation of war, the route change should take place by agreement of the parties and after three years.

According to Pashinyan, negotiations on this topic are now in progress with Russian partners, since the new route, according to the trilateral statement, should be controlled by Russian peacekeepers.

“Just because we are paying a lot of attention to the Russian-Ukrainian war does not mean that we are not paying attention to other issues” – US Assistant Secretary of State in Yerevan

According to Azerbaijan, 38 Armenian prisoners of war are still being held in Baku. Armenian human rights activists claim that there are many more of them. During a press conference, Pashinyan stated that all those who have reliable evidence that they were captured and can now be on the territory of Azerbaijan are considered “forcibly displaced”. Even a list of these people was compiled, but the prime minister did not say how many people were on it.

Pashinyan emphasized that more than 90% of the confirmed prisoners were captured after the entry of Russian peacekeepers into NK, in their zone of responsibility:

“Azerbaijan’s policy of not returning prisoners is aimed at discrediting the activities of Russian peacekeepers in Nagorno-Karabakh, in the Lachin corridor”.

He believes that the Armenian side, Russia and the international community should make additional efforts to return the prisoners. The Prime Minister assesses their retention in Azerbaijan as a violation of the November 9, 2020 tripartite ceasefire statement:

“It says that prisoners of war, hostages, and other detainees must be returned to their homeland. There are people who were captured before November 9, and there are those who were later captured. But the November 9 statement does not say that this clause does not concern them”.

The new CRRC Armenia survey has determined what worries the Armenian people the most: the need to strengthen the army, poverty, and the peace agreement with Azerbaijan

“There is an opportunity for a positive shift, and we must do everything to use it,” the prime minister said about the normalization of Armenian-Turkish relations.

According to him, if negotiations are ongoing, then there is “a realization that a settlement is possible,” and we need to move forward in small steps.

However, Pashinyan believes that some statements that come from Turkey have a negative impact on this process, create a negative background. In particular, he touched upon the wording “Zangezur corridor”.

This refers to the road through the territory of Armenia, which will connect Azerbaijan with its exclave Nakhichevan. Azerbaijan and Turkey call this road a “corridor”. The Armenian side has repeatedly announced that it agrees to unblock communications, but with the preservation of sovereign control over these roads, since the term “corridor” implies a loss of sovereignty.

At the same time, Pashinyan stressed that dissatisfaction with the statements of the Turkish side does not mean the end of the dialogue with the Armenian side.

https://jam-news.net/armenian-prime-minister-pashinyan-baku-is-trying-to-legitimize-another-war/







FM Dendias signs MoU with Armenian FM Mirzoyan

Hunanian Jack
HELLENIC NEWS OF AMERICA
ByHellenic News of America

Foreign Minister Nikos Dendias met on Monday with visiting Foreign Minister of Armenia Ararat Mirzoyan in the presence of Deputy Foreign Minister Kostas Fragogiannis.

The two top officials reaffirmed the strong frienship and historical ties between Greece and Armenia.

They also discussed Greek-Armenian relations, including the trilateral cooperation between Greece, Armenia and Cyprus on diaspora issues, developments in the Caucasus region, Russia’s invasion of Ukraine and developments in the Eastern Mediterranean.

After the meeting Dendias and Mirzoyan signed an MoU between the Greek and the Armenian Foreign Ministries on EU-related matters, the foreign ministry posted on Twitter.

SOURCE; ANA-MPA

https://hellenicnews.com/fm-dendias-signs-mou-with-armenian-fm-mirzoyan/

“Thanks to brotherly Greece,” says Armenian FM following meeting with Dendias in Athens

Toneyan Mark
by ATHENS BUREAU

Foreign Minister Nikos Dendias met on Monday with visiting Foreign Minister of Armenia Ararat Mirzoyan in the presence of Deputy Foreign Minister Kostas Fragogiannis.

The two top officials reaffirmed the strong friendship and historical ties between Greece and Armenia.

They also discussed Greek-Armenian relations, including the trilateral cooperation between Greece, Armenia and Cyprus on diaspora issues, developments in the Caucasus region, Russia’s invasion of Ukraine and developments in the Eastern Mediterranean.

After the meeting Dendias and Mirzoyan signed an MoU between the Greek and the Armenian Foreign Ministries on EU-related matters, the foreign ministry posted on Twitter.

Thanks to brotherly Greece and my friend Nikos Dendias personally for warm welcome and hospitality. Had very productive discussions also with also the President and the Prime Minister and the Greek Foreign Minister. Strong partnership with Greece has a strategic importance for Armenia,” Mirzoyan tweeted.

https://greekcitytimes.com/2022/06/29/brotherly-greece-dendias/

Gielda Papierów Wartosciowych w Warszawie S A : GPW Acquires Armenia Securities Exchange

Maghakian Mike
Market Screener
06/28/2022 | 12:11pm EDT

GPW Acquires Armenia Securities Exchange2022-06-28 17:50:16

Yerevan,

PRESS RELEASE

  • The Warsaw Stock Exchange (GPW) has signed a Share Purchase Agreement with the Central Bank of Armenia (CBoA) to buy a 65,03% stake in the Armenia Securities Exchange (AMX) from CBoA
  • GPW and CBoA have signed a Shareholders’ Agreement regarding the participation of the contracting parties in AMX
  • The signing ceremony was attended by representatives of Polish and Armenian authorities, including Marcin Przydacz, Undersecretary of State at the Ministry of Foreign Affairs

On , during a ceremony in Yerevan, Marek Dietl, President of the Management Board of the Warsaw Stock Exchange (GPW), signed a Share Purchase Agreement between GPW as the buyer and the Central Bank of Armenia (CBoA) as the seller of a majority stake in the Armenia Securities Exchange (AMX) representing 65.03% of shares. CBoA was represented by Martin Galstyan, Governor of the Central Bank of Armenia. A Shareholders’ Agreement regarding the participation of the contracting parties in AMX was also signed in Yerevan between GPW and CBoA. The signing ceremony was attended by representatives of the Polish government: Marcin Przydacz, Undersecretary of State at the Ministry of Foreign Affairs, and Paweł Cieplak, Ambassador Extraordinary and Plenipotentiary of the Republic of Poland to Armenia.

“We firmly believe that this transaction lays new foundations in Polish-Armenian relations as a clear _expression_ of the 700-year history of mutual trust and respect that binds our two nations. Poland and the Warsaw Stock Exchange are helping Armenia to build economic relations with the West in small steps. We consider this investment as a long-term partnership. Our aim is to recreate with joint efforts the capital markets of Armenia and thrive to extend our business further into the region. We also expect to develop the capital markets infrastructure, creating opportunity for businesses to raise sustainable and affordable capital while enabling the investors and savers to manage their savings and investments more professionally within a wider range of investment products and opportunities,” said Marek Dietl, President of the Management Board of GPW.

The detailed development plan of AMX and the Armenian capital market is set out in the long-term development strategy of AMX, which was developed in co-operation with the EBRD and GPW. GPW intends to support the development of the capital market in Armenia by leveraging its 30 years of experience in building a capital market in Poland.

“We believe this to be an important milestone in the development of Armenian capital markets. Having found such a partner in the Warsaw Stock Exchange, realizing we have the same vision and similar aspirations, we believe this deal to be a turning point in the chronicles of capital markets in Armenia. Under the leadership of the Warsaw Stock Exchange, with their experience and knowledge, AMX has the full potential to expand and become the robust stock market ready to take up the challenges of the 21st century and lead the region,” said Martin Galstyan, Governor of the Central Bank of Armenia.

The joint-stock company AMX is the only stock exchange currently operating in Armenia (as the Armenia Securities Exchange from 2001 and as NASDAQ OMX Armenia since 2008). For more than 18 years, the exchange has been an organised securities market in Armenia, offering market professionals a fully automated electronic trading platform. The AMX Group’s core business is to organise trading in financial instruments and operate a depository and clearing house for trading in financial instruments in Armenia. The company is headquartered in Armenia’s capital, Yerevan. Currently listed instruments include equities, corporate and government bonds, currency, credit, as well as repos and swaps. AMX continues to work on introducing other organised markets. The Central Bank of Armenia is the supervisory and regulatory authority for the stock exchange and the Armenian capital market. AMX is a member of the Federation of Euro-Asian Stock Exchanges (FEAS) and the International Association of CIS Exchanges. Since 2008, AMX is also a member of the American Chamber of Commerce in Armenia.

As a result of the transaction, GPW will become the majority shareholder of AMX holding a block of 967 shares, representing a 65.03% stake in the company’s total share capital. CBoA will hold 372 shares representing a 25.02% stake in the company’s share capital. The remaining 9.95% i.e. 148 shares are AMX’s Treasury shares. In addition, GPW will indirectly take control of the Central Depository of Armenia (CDA), in which AMX currently holds a 100% stake.

***

On 18 September 2020, the GPW Management Board signed an agreement with the Central Bank of Armenia (CBoA) to negotiate the acquisition of a majority stake representing 65% of shares in the Armenia Securities Exchange (AMX). On 19 May 2022, the GPW Management Board and the GPW Supervisory Board approved the acquisition of a 65.03% stake in the Armenia Securities Exchange. On 24 May 2022, during the World Economic Forum in Davos, Marek Dietl, President of the Management Board of the Warsaw Stock Exchange (GPW), and Hayk Yeganyan, President of the Management Board of the Armenia Securities Exchange (AMX), signed a memorandum and initialled a Share Purchase Agreement setting out the terms of GPW’s acquisition of a majority stake in AMX. The agreement was initialled in the presence of Andrzej Duda, President of the Republic of Poland, and Vahagn Khachaturyan, President of the Republic of Armenia.

***

The Warsaw Stock Exchange Group (GPW Group) operates trading platforms for shares, Treasury and corporate bonds, derivatives, electricity and gas, and provides indices and benchmarks including WIBOR and WIBID. The index agent FTSE Russell classifies the Polish capital market as a Developed Market since 2018. The markets operated by the GPW Group are the biggest in Central and Eastern Europe. For more information, visit www.gpw.pl

The Armenia Securities Exchange (AMX) is the only securities regulated market operator in Armenia. As an integrated exchange offering, AMX provides a full suite of services including listing, trading, clearing, information services and alternative market solutions. Investors receive a wide range of investment products and maximum transparency, together with the smooth and efficient execution and clearing of trade transactions. Being a 100% shareholder of the Central Depository of Armenia, AMX also provides integrated settlement solutions for both resident and non-resident clients by utilizing the central depository’s international settlement network and relationships with global depositories. AMX as a group has a pivotal role in the Armenian financial system.
The mission of AMX is to enhance and develop the infrastructure of the Armenian capital market and create an attractive business environment. We will do this by becoming an active financing tool for the Armenian economy, enabling the raising of capital and investments. Through the expertise, experience and passion of our people, AMX ensures that our operations are built on foundations of quality, security and trust.

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