Author: Emil Lazarian

"WE PLAN TO ATTRACT SIGNIFICANT MEANS FROM FOREIGN SOURCES"

Mediamax Agency, Armenia
March 13 2007

Interview to the Executive Director of Inecobank Mher Grigorian to
Mediamax Agency (Banks.am)

– Lately "Inecobank" signed two credit contracts – with the EBRD at
the sum of $5mln (financing of micro- and small business) and with
the BSTDB at the sum of $3mln (financing of foreign trade). Will
those contracts lead to the improvement of crediting conditions by
"Inecobank"?

– "Inecobank" cooperates with many well-known international
organizations, among which the International Financial Corporation
(IFC), the European Bank for Reconstruction and Development (EBRD),
KfW and others.

We are not going to limit ourselves to the above-mentioned financing
sources, and in the course of 2007 we plan to attract significant
sums from the foreign sources.

Our bank has always been adherent to the strategy of financing
according to the market tariffs, and the given credits are not
an exception. Unfortunately, the Armenian banks are not yet
able to attract resources by very low interest rates, and taking
into consideration the increasing demand for credits in Armenia,
I consider it unlikely that the credit interest rates will decrease
in the nearest future – especially in case of foreign currency credits.

-The international financial structures have been assisting your bank
before in the sphere of financing of foreign trade. In particular,
in 2005 "Inecobank" joined the program of EBRD on assistance in the
sphere of foreign trade crediting. Does your bank have any plans as
to the implementation of factoring service?

– The program of EBRD on financing foreign trade differs from the
program of BSTDB. In the first case, direct financing is not being
realized, but an issue of warrants and letters of credits, approved by
international banks. What concerns the factoring, yes; we carry out
works in that direction: we have organized trainings for the staff,
initiated a small study of the market. I believe that in the course
of 2007, we will conclude a few agreements with Armenian companies,
which realize wholesale and small wholesale trade, but here we talk
about the inner factoring yet.

– "Inecobank" is included in the program of the German KfW bank
"Stable development of mortgage market". Can we suppose that the
mortgage credits, provided within the framework of the program, will
become privileged for mortgage borrowers, and how will in this case
the issue of selection of potential borrowers be decided upon?

– There are so-called "minimal standards of the credit qualities"
elaborated within the framework of the program, which determine
the criteria of the borrowers’ selection. Unfortunately, the given
criteria are quite strict and allow involving only the most solvent
group of the potential borrowers. On the other hand, this is natural:
the 6mln euro, allocated by the KfW for crediting, is not a large sum,
so we cannot talk about a large-scale mortgage program.

– Starting from December of 1997, "Inecobank", first from all the
Armenian commercial banks started to service the trade of consumer
goods on credit. Do you preserve the leading position in the given
segment?

– Quite true, when 10 years ago "Inecobank" started granting consumer
credits, it was the only one to realize such activities, and today
almost all the banks provide the given service. It is well-known that
each product has a cycle of existence, and we aim at not preserving
the leadership, but changing the format of consumer crediting,
facilitating and accelerating its process.

Our bank has elaborated a system, named "On the spot crediting",
that is the crediting in the shop. The customers will not have to
visit the bank anymore before they make the purchase – the whole
procedure will be realized immediately in the shop by means of the
electronic system, worked out by "Inecobank". We believe that the
given direction is one of the priority ones and think that as soon
as it is put into operation, we will strengthen our positions.

– Lately, it is more often talked about the necessity to increase
the growth of trust of the population for the banking system. What
steps does your bank take up in that direction?

– We pay special attention to the image of the bank, and up till now
there has been no case that would negatively influence the reputation
of our bank. An important role is played in the formation of the image
and the increase of trust for the bank by the irreproachable reputation
of our share-holders, among which are the international institutional
investors IFC and ShoreCap International, as well as the trust from
the part of our international partners: EBRD, KfW, ADB and others.

To be granted a credit by this or that international organization
or a bank, we undergo a certain procedure of legal and financial
examination, which is called Due Dilligence – a set of measures,
which are taken up to check and to objectively assess the legality
and the financial situation of the bank. Our bank has undergone 5
such examinations, and each time – successfully.

By the way, last year the volumes of assets, attracted by our bank
from individuals, exceeded the indices of 2005 by 26.8%, which we
relate to the growth of trust for the bank.

– Lately, the International Financial Corporation (IFC) became the
10% share-holder of "Inecobank". Should we expect any changes in the
strategic policy of the bank?

– Surely, the participation of an organization, such as IFC, plays an
important part in the development of the bank, implying an inflow of
new resources both from the population and the international financial
organizations. The attracted assets will be directed to both the
development of the current services and the elaboration and provision
of new ones, which will assist the general development of the bank.

It is natural that together with the development and the enlargement
of the bank, some changes will take place in its strategy as well,
but our main goal will remain unchanged – the maximal satisfaction
of the customers’ needs. The bank has been and will be adherent in
the future to the principles of customer-oriented activities.

From: Emil Lazarian | Ararat NewsPress

TURKISH POLITICIAN CONVICTED OF BREACHING SWISS ANTI-RACISM LAWS

Legalbrief , South Africa
March 13 2007

Published in: Legalbrief Today
Date: Tue 13 March 2007
Category: General
Issue No: 1784

A prominent Turkish politician was been convicted of breaching Swiss
anti-racism laws by saying that the early 20th-century killing of
Armenians could not be described as genocide.

According to a report in the Houston Chronicle, the Turkish Foreign
Ministry reacted swiftly to the decision, saying it was saddened
by the Swiss court’s ruling to punish Dogu Perincek, leader of the
Turkish Workers’ Party, and to ignore ‘his freedom of expression’.

Perincek was ordered to pay a fine of $2 450 and was given a suspended
penalty of $7 360. Perincek was charged with breaking Swiss law by
denying during a visit to Switzerland in 2005 that the World War I
killings of up to 1.5m Armenians amounted to genocide. He has since
repeated his claim, including at his recent trial. In his closing
statement, Judge Pierre-Henri Winzap described the defendant as
an intelligent and cultivated person, but added that to deny the
Armenian genocide was an arrogant provocation because it was an
accepted historical fact.

From: Emil Lazarian | Ararat NewsPress

BERNARD FASSIER: "IF THE MAIN PRINCIPLES OF THE SETTLEMENT PROCESS ARE FORMED IN GENEVA, MAMMADYAROV AND OSKANYAN SHOULD MEET AGAIN"

Today, Azerbaijan
March 13 2007

All conditions have been created for successful meeting of Azerbaijani
and Armenian Foreign Ministers in Geneva, OSCE Minsk Group French
co-chair Bernard Fassier told journalists in Yerevan.

Highly appreciating his visits to Baku and Yerevan the co-chair said
they have a lot of expectations from the Geneva talks.

I can not predict how constructive the Geneva negotiations will be,
as the meeting has not taken place yet. But all conditions have been
created for successful meeting and everything depends on the will
of the sides. The meeting of Azerbaijani and Armenian presidents was
very constructive, but then the dialogue became a little worse. The
statements of the sides made the co-chairs negotiate in Paris and
organize Geneva meeting of the Foreign Ministers, the co-chair said.

Bernard Fassier stressed that the sides have not been given fantastic
proposals on the settlement of the conflict.

If Geneva negotiations are a success and the main principles of the
process of settlement are formed, the foreign ministers should meet
for the second and third time, the co-chair said, APA reports.

URL:

From: Emil Lazarian | Ararat NewsPress

‘2009 TURKISH YEAR’ ACHE FOR FRENCH BUSINESSMEN

Sabah, Turkey
March 13 2007

France, where the Armenian year continues, is getting ready for the
2009 Turkish year. The chairman of the French Chamber of Industry and
Commerce Assembly Bernardin said: "let’s make joint economic programs
for 2009. Let us bring presidents and prime ministers together."

After the visit of the chairman of MEDEF, Laurence Parisot, when
he gave a supportive message for the Genocide Bill, the chairman of
the French Chamber of Industry and Commerce Assembly Jean-Francois
Bernardin also came to Turkey. Bernardin, representing 2 million French
enterprises, stated his wish about bringing together the leaders of
two countries and carring out joint economic activities.

From: Emil Lazarian | Ararat NewsPress

US ARMENIAN RESOLUTION ‘INDIGESTIBLE’ TO TURKEY

Today’s Zaman, Turkey
March 13 2007

The Turkish prime minister’s foreign policy advisor has said insulting
the Turkish nation with a genocide that their ancestors did not commit
would be "indigestible," referring to the Armenian genocide resolution
pending in the US Congress.

Speaking to Today’s Zaman in Ýstanbul before leaving this weekend for
the US with a group of Turkish legislators to lobby in Washington
against the resolution, Justice and Development Party (AK Party)
deputy Egemen Baðýþ said at a time when Turkey and the US have
numerous joint projects going on, including Iraq’s reconstruction,
the resolution’s passage would be unacceptable for the Turkish public,
whose support for America’s foreign policy has been extremely low.

"Adding these genocide allegations on top of the current bad situation
would be like adding insult to injury. It would make things more
complicated. This is not a threat. It would put the government in an
awkward situation."

Baðýþ recalled that 80 percent of the logistical goods that the US
troops use in Iraq go through Turkey and that 60 percent of them are
made in Turkey.

"Turkey is the country with the second-highest casualties in Iraq
after the US. Although we don’t have any troops in Iraq, the Turkish
truck drivers, engineers, construction workers and contractors who
lost their lives in the efforts to rebuild Iraq, have reached about
150," he said, adding that the Turkish government has to take public
opinion into consideration and take measures if such a resolution
passed in the US Congress.

"We’re hoping that those lawmakers in the United States understand
the implications of the resolution, which they think is just a local
issue to please their local Armenian constituency and has no binding
effect on Turkey. But it’s more than that. It can really inflect
long-lasting damage to the relationship."

That’s why he and a second parliamentary delegation visited to
Washington on Sunday, Baðýþ said. He is joined by AK Party deputies
Reha Denemec and Vahit Erdem, and main opposition Republican People’s
Party (CHP) deputies Ersin Arýoðlu and Bihlun Tamaylýgil.

Also the chairman of Turkey-USA Interparliamentary Friendship Caucus,
Baðýþ said the delegation will participate in a meeting of the
Turkish-American Council today. The delegation will talk with members
of Jewish organizations and travel to Chicago, which has very strong
Turkish-American and African-American Muslim communities.

The Armenian genocide resolution was introduced on Jan. 30 and
currently has about 170 cosponsors.

Turkey rejects the "genocide" label and argues that 300,000 Armenians
and at least as many Turks died in civil strife, when Armenians took
up arms for independence in eastern Anatolia and sided with Russian
troops invading the crumbling Ottoman Empire during World War I.

US President George Bush will have to persuade the new
Democratic-controlled Congress, which does not need presidential
approval for such a resolution.

House Speaker Nancy Pelosi, who will decide whether to offer the bill
for a full vote if, as expected, it is approved by the House Foreign
Affairs Committee, has expressed support.

–Boundary_(ID_D5ImvuOdcAbua8DSIGM3Ug)–

From: Emil Lazarian | Ararat NewsPress

AFFAIRE DOGU PERINCEK: SON AVOCAT FAIT RECOURS

Le Matin
Edition Semaine
13 mars 2007 mardi

L’avocat de Dogu Perincek, Me Laurent Moreillon, a fait recours
hier contre la condamnation de son client. Le nationaliste turc a
ete reconnu coupable, vendredi dernier a Lausanne, de discrimination
raciale pour negation du genocide armenien. "La declaration de recours
part aujourd’hui (ndlr: hier) et le memoire explicatif suivra une
fois que nous aurons pris connaissance des considerants du jugement",
a explique une collaboratrice de l’avocat. A l’issue du procès,
Dogu Perincek avait annonce qu’il etait pret a aller jusqu’a la Cour
europeenne des droits de l’homme a Strasbourg s’il n’obtenait pas
gain de cause devant le Tribunal cantonal vaudois ou le Tribunal
federal. La condamnation du chef du Parti des travailleurs turcs a
souleve un tolle dans son pays et suscite les critiques de l’ambassade
de Turquie en Suisse.

–Boundary_(ID_oYmgvgagcopwOD60YygnZQ)–

From: Emil Lazarian | Ararat NewsPress

SERVICES GROW BY 10.8% IN ARMENIA IN JANUARY 2007 ON SAME MONTH OF LAST YEAR

Noyan Tapan
Mar 13 2007

YEREVAN, MARCH 13, NOYAN TAPAN. In January 2007, the total amount of
services provided in Armenia made 34 bln 17.5 mln drams (over 93.5 mln
USD), increasing by 10.8% on the same month of last year. According
to the RA National Statistical Service, the greatest growth – 64.2%
in January 2007 on January 2006 was registered in the sphere of
municipal services where services amounted to 368.7 mln drams in
January 2007. These indices in the sphere of social services made
55.4% and 800 mln drams respectively, in the sphere of information
technology services – 48.6% and 1 bln 57.9 mln drams.

From: Emil Lazarian | Ararat NewsPress

RA ECONOMIC COURT POSTPONES EXAMINATION OF 6 RADIO COMPANIES’ LAWSUIT AGAINST GOVERNMENT UNTIL MARCH 22

Noyan Tapan
Mar 13 2007

YEREVAN, MARCH 13, NOYAN TAPAN. The RA Economic Court postponed
examination of the lawsuit of 6 radio companies against the Armenian
government until March 22. Thus the court satisfied the defendant’s
petition to be given time in order to become acquainted with
objections of plaintiffs. To recap, these radio companies demand
to recognize as invalid the governmental decision concerning the
setting of payments for radio broadcast frequency. By the decision,
the RA ministry of transport and communication is authorized to set
the amount of these payments. According to plaintiffs, in accordance
with Article 45 of the RA Constitution, the order and amount of taxes,
duties and other mandatory payments is regulated by law. However,
the Law on Television and Radio says nothing about the amount and
order of setting of broadcast payments. In the words of Artashes
Hovsepian, representative of the defendant, Head of the Juridical
Department of the RA Ministry of Transport and Communication, the
demand of radio comapnies is unfounded, as by the law on legal acts,
the government regulates all legal relations which are not regulated
by the RA Constitution, law or presidential decrees. To recap, at the
February 27 sitting, the court satisfied the petition of Olga Safarian
(lawyer representing interests of the radio companies) to be given
time to become acquainted with the government’s answer and present her
objections. The court postponed the case examination until March 12.

From: Emil Lazarian | Ararat NewsPress

ARMENIAN COMMUNIST LEADER OPPOSES NATO’S INFLUENCE ON REGION

Arminfo
13 Mar 07

Yerevan, 13 March: Strengthening [the position] of NATO in Armenia
in fact is strengthening [the position] of Turkey, Ruben Tovmasyan,
first secretary of the Armenian Communist Party Central Committee,
has told Arminfo.

He said claims that the increase of NATO’s influence in the region
is not directed against Russia are groundless because a rightful
question arises: why does NATO exist then?

"The Warsaw Treaty Organization does not exist any more; why, then,
does NATO continue working actively?" he asks.

He said that if NATO’s attitude to Armenia was really positive then
it should influence Turkey, which has imposed a blockade on Armenia
with an excuse of the unsettled Karabakh conflict. Tovmasyan said
that the country’s security can only be ensured within the [CIS]
Collective Security Treaty Organization.

He made the statement amid the NATO week under way in Armenia.

From: Emil Lazarian | Ararat NewsPress

GOAL OF NATO WEEK STARTED IN YEREVAN IS TO PRESENT MAIN DIRECTIONS OF ARMENIA-NATO COOPERATION

Noyan Tapan
Mar 13 2007

YEREVAN, MARCH 13, NOYAN TAPAN. The NATO week is held in Yerevan
on March 12-16, within the framework of the Individual Partnership
Actions Plan (IPAP).

Visits of high-ranking officials of the Alliance to Yerevan as well
as different meetings, lectures, TV interviews, broadcast of programs
concerning the NATO and Armenia-NATO cooperation are envisaged during
the week. According to the information submitted to Noyan Tapan
by the RA Foreign Ministry’s Press and Information Department, the
NATO week is one of the most important events implemented by Armenia
this year. Its goal is to present the society of Armenia the main
directions of the Armenia-NATO cooperation, modern characteristics
and contents of the activity of the Alliance. Jean Fournet, the NATO
Assistant Secretary General for Public Diplomacy, will visit Yerevan
on the occasion of the NATO week. J.Fournet’s meetings with the RA NA
Speaker, Foreign Minister and National Academy of Sciences Chairman
are envisaged during the visit.

A seminar concerning the NATO electronic information net of events
will start at the RA Foreign Ministry on March 14. Representatives of
RA ministries and departments will participate in the seminar. George
Kacirdakis, the head of the NATO Defense Cooperation Department,
will visit the NATO information center on March 15. He will meet with
Armenian journalists. The Yerevan-Kosovo TV bridge for members of
the Armenian peace-keeping battalion of Kosovo and their families is
also scheduled for March 16. The Armenian Atlantic Association public
organization will organize on March 12-16, within the framework of
the NATO week, a NATO-Armenia youth teaching tour dedicated to the
NATO and Armenia-NATO cooperation, during which the participants will
visit the marzes of Armenia, Kapan, Sisian, Yeghegnadzor, Vanadzor,
Tavush, Shirak, and have meetings with the local youth. The tour
presentation will take place at 10:00, March 12, in Ani Plaza hotel.

From: Emil Lazarian | Ararat NewsPress