09:28, 26 May 2022
YEREVAN, MAY 26, ARMENPRESS. The United Nations Security Council will hold a meeting on North Korea on Thursday, according to its program released on Wednesday, reports TASS.
On Tuesday, North Korea conducted three missile test launchers.
Voting on a US draft resolution calling for tougher sanctions against Pyongyang is expected to be held, Reuters said citing an administration official.
According to Seoul, North Korea test launched three ballistic missiles on Wednesday. One of them, according to the South Korean military, was an intercontinental missile, the two others were short-range missiles. The launch od one short-range missile was probably abortive. In response to Pyongyang’s tests, two missiles, one South Korean and one American, were launched toward the Sea of Japan.
15:05, 26 May 2022
YEREVAN, MAY 26, ARMENPRESS. Minister of Economy Vahan Kerobyan reacted positively to the acquisition of the 65,03% of the Armenian Securities Exchange (AMX) by the Warsaw Stock Exchange.
Kerobyan said that the Warsaw Stock Exchange is the most active and largest stock exchange in Eastern Europe.
“The contribution of their experience in the Armenian capital market can’t be overestimated. We believe that their arrival will bring great benefit the development of our capital market. We already see significant interest from private companies for instruments of the capital market,” Kerobyan said.
He said that prior to 2018 there were very few companies in the non-financial sector who were working transparently with profit. The accepted business model, before 2018, was to generate revenue by saving taxes, he said. But starting from 2018, companies have broad opportunities to work with profit and transparently.
“I can’t say that it has become transparent entirely, but we see that the number of companies who are properly undergoing audit is significantly growing. This is the base of the companies who should be active participants of the capital market,” Kerobyan said.
On May 24, the Board of the Central Bank of Armenia approved the acquisition of the Armenian Securities Exchange (AMX) by the Warsaw Stock Exchange.
According to the agreement, the Warsaw Stock Exchange (GPW) will acquire 65.03% of AMX.
The Armenian Central Bank issued the following press release on the acquisition:
“On its May 24 sitting, the Board of the Central Bank of Armenia gave its consent to the acquisition of the Armenian Stock Exchange by the Warsaw Stock Exchange. According to the agreement, the Warsaw Stock Exchange (GPW) will acquire 65.03% of shares of the Armenian Stock Exchange (AMX) (967 shares in total). The Central Bank of Armenia will maintain 25.02% of shares, and the remaining 9.95% are the AMX’s own shares. The value of the transaction will be about AMD 873 million, a part of which (about AMD 499 million) will be paid after signing the Share Purchase Agreement, and the rest, after completion of processes established by the Share Purchase Agreement.
The GPW announced about its plans to acquire the AMX in September 2020, after which necessary studies were carried out, a development plan for the next five years was developed, and necessary corporate approvals were obtained.
The Board of the Central Bank stresses the importance of the entry of the WFB as an institutional investor into the Armenian financial market, which will give an impetus to the development of Armenian capital market, and will foster integration of Armenian and Polish capital markets, opening new opportunities for both the Armenian companies and the investors.
Development program prepared by the GPW provides for a number of measures aimed at the improvement of capital market infrastructure, including development of the trading system, expansion of the stock exchange and the Central Depository services, as well as introduction of state-of-the-art technological solutions.”
The GPW is the largest and the developed market in Central and Eastern Europe. The GPW organizes trading in stocks, bonds, derivatives, fund shares and other instruments. The GPW is a public company, the shares of which have been listed since 2010 with a capitalization of about 320 million euros.
The AMX is the only operator in the regulated securities market in Armenia, which organizes trading of both securities and other financial instruments. The AMX is the 100% shareholder of the Central Depository of Armenia. 90.05% of the AMX shares belong to the Central Bank of Armenia, and the remaining 9.95% are the AMX’s own shares.
17:13, 26 May 2022
YEREVAN, MAY 26, ARMENPRESS. Prime Minister Nikol Pashinyan held a meeting with Valéry Freland, the Executive Director of ALIPH – the International Alliance for the Protection of Heritage in Conflict Areas.
The Armenian Prime Minister commended ALIPH’s activities in protecting historic-cultural heritage and expressed readiness for partnership on behalf of the Armenian government, the Prime Minister’s Office said in a press release.
Pashinyan said that protecting the Armenian cultural and religious heritage from destruction in territories that have gone under Azerbaijani control is a priority objective, and that the unhindered involvement of the international community, especially UNESCO, is highly important to preserve Armenian monuments in Nagorno Karabakh and prevent the continuous cases of vandalism.
The sides also discussed cooperation issues in the direction of preserving and restoring historical-cultural monuments in the territory of Armenia.
Views were exchanged over the reinforcement and digitization works, development of necessary infrastructure, exchange of experience and opportunities for training of specialists.
By CNA Staff
London, England, May 27, 2022 / 03:00 am (CNA).
Patriarch Raphaël Bedros XXI Minassian is the new representative of Catholics at the Middle East Council of Churches.
The Armenian Catholic leader was elected to represent “the Catholic family” at the closing session of the council’s general assembly, held on May 16-20 in Wadi El-Natrun, northern Egypt.
He succeeds Patriarch Louis Raphaël I Sako, the leader of the Chaldean Catholic Church, reported ACI Mena, CNA’s Arabic-language news partner.
The Middle East Council of Churches was founded in 1974 to bring together the region’s Evangelical, Oriental Orthodox, and Greek Orthodox Christians. Catholics joined the body in 1990. The council has four presidents, each representing one of its four constituent communions.
Patriarch Minassian, 75, became the 21st Catholicos-Patriarch of Cilicia of Armenian Catholics in September 2021.
He succeeded Patriarch Gregory Peter XX Ghabroyan, who died in May 2021 at the age of 86.
Minister of Defense Suren Papikyan received today the Commander of the Russian Peacekeeping Forces in Artsakh, Major General Andrey Volkov. Defense Attaché of the Russian Embassy in Armenia, Colonel Igor Shcherbakov was present at the meeting.
Major General Andrey Volkov briefed the Armenian Minister of Defense on the situation in the area of responsibility of the Russian peacekeeping contingent in Artsakh and the developments.
The interlocutors praised the efforts of the Russian Federation to stabilize the military-political situation in the region, as well as the process and effectiveness of the Russian peacekeeping mission in Artsakh.
The sides also exchanged views on regional security issues.
Yerevan EUBC Men’s Elite European Boxing Championships: 9 Armenian boxers advance to quarterfinals
09:41, 27 May 2022
YEREVAN, MAY 27, ARMENPRESS. The quarterfinals are kicking off at the Yerevan EUBC Men’s Elite European Boxing Championships.
9 boxers from the Armenian national team will enter the ring today.
Armenia’s Artur Hovhannisyan will face Martin Molina Salvador of Spain in the flyweight division. Armenia’s light welterweight Hovhannes Bachkov will fight Petr Novak of Czech Republic.
Light Heavyweight Hambardzum Hakobyan’s opponent in the quarterfinals will be Luka Plantic of Croatia.
Baregham Harutyunyan will compete against Georgia’s Sakhil Alakhverdovi in the minimumweight division, while Davit Chaloyan will fight Ayoub Ghadfa Drissi El Aissaoui of Spain.
Later in the day, Gurgen Madoyan will face Georgian opponent Lasha Guruli in the welterweight division. Rafayel Harutyunyan’s opponent in the cruiserweight division is Belgium’s Victor Schelstraete.
Featherweight Artur Bazeyan will fight Turkey’s Batuhan Citfi, and heavyweight Narek Manasyan will compete against Vagkan Nanitzanian of Greece.
12:35, 27 May 2022
YEREVAN, MAY 27, ARMENPRESS. Speaker of Parliament Alen Simonyan held a meeting with the visiting President of Montenegro Milo Đukanović.
Speaker Simonyan noted that in the 16 years of establishment of diplomatic relations between the two countries, President Đukanović’s visit is the first high-level visit.
The sides discussed the circle of bilateral partnership, emphasizing inter-parliamentary ties. Effective and continuous dialogue between the legislative bodies was viewed as a priority, with the parliamentary friendship groups expected to greatly contribute to this.
Comprehensive cooperation with the EU and the issues of regional security and establishing lasting peace were discussed.
Speaking on the post-war situation, Speaker Simonyan highlighted practical support of international partners in resolving the outstanding humanitarian issues.
President of Montenegro Milo Đukanović said that short-term solutions to conflicts are followed by long-term sufferings, with severe consequences for the countries.
President Đukanović said he will discuss the issue of the Armenian POWs, including civilians, who are still held in Azerbaijan with his administration and also international partners.
President Đukanović said they have goodwill for the region and expect stability. He said that for any country – especially small countries like Armenia and Montenegro, in such difficult situations what matters is to preserve identity.
As Turkey and Azerbaijan enjoy strong, deep-rooted relations, the Turkish president on Saturday stressed the two countries’ “strategic alliance” as cemented by last year’s declaration in the wake of Azerbaijan‘s victory in a regional conflict with Armenia.
“We first elevated our relationship with Azerbaijan to a strategic partnership, and last year to a strategic alliance with the Shusha Declaration,” President Recep Tayyip Erdoğan said at leading Turkish aviation, space, and technology festival Teknofest, now held abroad for the first time, in the Azerbaijani capital Baku.
Saying that the two countries have taken bilateral ties to a level that is exemplary not only for the region but also for the entire world, Erdoğan said: “We are organizing Teknofest, the world’s most popular aviation, space and technology festival, in Baku, the pearl of the Caspian, with the slogan of one nation, two states, one festival.”
Just like Turkish Anatolia, just like Turkey itself, Azerbaijan is also our homeland, the Turkish leader added.
“Just as we do not have designs on anyone’s lands or sovereignty, we do not and will not have a single inch of land to lose to people with malicious intent,” he declared.
He added that Turkey strongly supports Azerbaijan‘s efforts to establish lasting peace with neighboring Armenia.
Raising relations between Turkey and Azerbaijan to the level of an alliance, the declaration was inked in a ceremony attended by the two countries’ presidents in the Azerbaijani city of Shusha, liberated in November 2020 from nearly 30 years of Armenian occupation.
It focuses on defense cooperation and establishing new transportation routes, affirming the two armies’ joint efforts in the face of foreign threats, and the restructuring and modernization of their armed forces.
The declaration decries how Armenia’s groundless allegations against Turkey and attempts to distort history are damaging peace and stability in the region. It also says the opening of the Zangezur corridor, connecting eastern Turkey and Azerbaijan, and the Nakhichevan-Kars railway will further contribute to the strengthening of relations.
Turkey was a key backer of Azerbaijan during the 44-day Nagorno-Karabakh war between Azerbaijan and Armenia, which erupted on Sept. 27, 2020 and ended with a Russian-brokered cease-fire and sizeable Azerbaijani gains on Nov. 10.
https://islamabadpost.com.pk/erdogan-turkey-supports-azerbaijans-efforts-to-establish-lasting-peace-with-armenia/
The consequences of Russia’s invasion of Ukraine have created further incentives and necessities for closer bonds between the EU and Azerbaijan.
The basis for these relations is multilayered and propitious. Azerbaijan has signed strategic partnership agreements with nine members of the EU and developed strong ties with many of them.
With a $15 billion annual trade turnover, the EU is Azerbaijan’s main trading partner, accounting for around 45 percent of the country’s total trade and amounting to two-thirds of the EU’s trade with the whole South Caucasus region. The EU is the major investor in the Azerbaijani economy, having invested up to $20 billion in different projects in Azerbaijan.
The South Caucasian republic supplies around 5 percent of the EU’s oil demand and exports gas to the European market since 2020. In December 2020, Azerbaijan began exporting gas to Europe through the Southern Gas Corridor (SGC), a project worth $33 billion. Although the share of the Azerbaijani gas is less than 2 percent in the overall gas imports of the EU, this maintains strategic importance for some importers in Eastern Europe.
Amidst the European efforts to reduce gas dependency on Russia, Azerbaijan’s gas exports are seen as an alternative. For example, a ten-point plan to reduce Europe’s dependence on Russian gas proposed by the International Energy Agency includes Azerbaijan as an alternative source in this context. The intensifying visits to Baku by European officials to explore the opportunities to increase Azerbaijani gas exports in recent weeks promise to deliver positive outcomes in the near future. Both sides are strongly interested in this cooperation.
Azerbaijan is also an important actor in Europe-Asia connectivity. Due to disruptions along the trans-Russia northern route following the Ukraine war, the Trans-Caspian International Transportation Route, also known as Middle Corridor, has gained momentum. Over the last few months, numerous international logistics companies have decided to expand their Europe-Asia operations through the Middle Corridor.
Azerbaijan, Kazakhstan, and Georgia are interested in developing this transportation route, whose potential is estimated at 10 million tones or 200,000 containers per year. The three countries plan to establish uniform tariffs for domestic shippers and improve and simplify the work of carriers in the corridor of the track. This will boost the transit role of the South Caucasus for Europe-Asia connectivity and serve as another encouraging factor for closer engagement of the EU with this region.
Against this background, the EU has started to play an active role in the Armenia-Azerbaijan peace process in recent months. The leaders of the two South Caucasian republics met online on February 4, in-person on April 6, and on May 22 via the mediation of the European Council president Charles Michel. The sides have achieved some progress in this process, launched the preparatory work for a peace treaty, and agreed upon the establishment of an international commission on the delimitation of the Armenian-Azerbaijani borders that have not been delimitated since the two countries regained their independence from the Soviet Union in 1991.
It is worth noting that since the beginning of this year, the representatives of the two South Caucasian republics have met exclusively via the mediation of the EU, while the only Russia-mediated meeting—that of the foreign ministers held on May 12—took place on the sidelines of another major event and brought about no novelty in the negotiations. This is the reason why Russia feels irritated, if not threatened, by “shameless attempts of Brussels to appropriate […] the agenda proposed last year by the OSCE [Organization for the Security and Cooperation in Europe] Minsk Group co-chairs (solving urgent humanitarian issues, [and the] preparation of a peace treaty between Baku and Yerevan).
It is believed that one of the major reasons for Armenia’s recent reluctance to fulfil the commitments it has undertaken at the EU-mediated meetings (e.g., its refusal to meet with the Azerbaijani side on April 29 and on May 7-12 when the sides would create the delimitation commission in the agreed timeframe) is the pressure by Russia and the pro-Russian opposition groups. The fact that Armenian prime minister Nikol Pashinyan made these moves following his April 19-20 Moscow visit, which came in contrast to his more constructive statements prior to this visit, substantiate these claims about the Russian intervention in the process. However, there is optimism in the region that the EU’s efforts to push for a breakthrough in the negotiations will deliver some results in the upcoming months.
All these developments encourage Azerbaijan and the EU to deepen their bilateral ties and open new chapters in their relationship. Hence, it is expected that the two sides will finalize their talks on a new framework agreement (that has been in negotiations since 2017) and sign it in the near future. According to President Ilham Aliyev, the process was delayed due to the pandemic-related restrictions and the 2020 war between Armenia and Azerbaijan. He has, however, reiterated that more than 90 percent of the agreement is ready. “We have an agreement, but it was signed many years ago [in 1996]. The new agreement is very comprehensive. It incorporates the new realities after Second Karabakh War and will definitely address the new situation in the world,” he stated on April 29.
Dr. Vasif Huseynov is a senior advisor at the Center of Analysis of International Relations in Baku, Azerbaijan.