Armenia launching charm offensive in City to attract UK investment

This is Money, UK
Oct 28 2023

Armenia is launching a charm offensive in the City to attract UK investment.

The country's economy minister and diplomats held meetings this week with major banks in the City as it looks to pivot away from Russia.

Vahan Kerobyan, Armenia's minister of economy and a former HSBC banker, has been shuttling around the UK capital in a bid to strengthen ties between the two countries.

Located in the Caucus region between Russia and the Middle East, Armenia is looking to boost its connections with Western financial centres and shift its geopolitical alignment following war in Ukraine.

While it is not a major trading partner for the UK, the value of goods and services exchanged between the nations has been growing rapidly. Last year, trade between the two countries amounted to £92m, up 156 per cent year-on-year.

Kerobyan told the Mail that the government is aiming to increase this to around £1bn within the next three years, ideally with the help of investment from Western banks.

The delegation has already met with HSBC, his former employer, and also arranged a meeting with US banking giant JP Morgan yesterday.

'We really need to diversify our economic ties,' he said.

No floats of Armenian companies are planned on the London market yet but Kerobyan says this is a possibility for the future.

The government is keen to promote its tech sector, concentrated in the capital Yerevan. Its status as a tech hub dates back to the USSR, when as one of its constituent republics it served as a centre for research. It has previously been dubbed the 'Silicon Valley of the Soviet Union.'

Armenia is now looking to regain that crown, with Kerobyan noting that multinational tech giants such as computer chip group Nvidia, IT giant Oracle and communications group Cisco all have a presence in the country.

The minister also noted Armenia's vast reserves of copper, key for electrification and renewable energy, as well as what he said was its 'booming' solar power industry.

Recent events in the region have also accelerated Armenia's drive to boost its economy. The country is accommodating around 100,000 refugees from Nagorno-Karabakh, an Armenian-populated enclave which last month was seized by its neighbour Azerbaijan.

But Kerobyan seemed outwardly unfazed by the flare-up in the region, saying the assault on Nagorno-Karabakh would not present risks to Armenia's fiscal stability.

He noted that the country's credit rating had been upgraded in August by S&P Global Rating, a leading US rating agency, after an influx of professionals from Russia. The emigres boosted the IT sector, which grew by 51 per cent last year.

The Past And Future Of Karabakh And South Caucasus Security – Analysis

Oct 28 2023

By Robert M. Cutler

The Karabakh conflict and the relationship between Armenia and Azerbaijan are often clouded by misinformation. To address this, it is crucial to highlight some historical facts. Despite claims to the contrary, ethnic Armenians began settling in Karabakh following Russia’s decisive triumph over the Persian Empire in the Russo-Persian Wars of the early nineteenth century. Following the 1828 Treaty of Turkmenchay, Christians from Persia were permitted and invited to relocate to the Russian Empire. It so happens that they were predominantly Armenians. They were settled not only in Karabakh but also in other South Caucasus regions like Javakheti in Georgia.

Since then, the fact of Armenian demography has served the interests of Imperial Russian, then Soviet, and now again Russian Federation influence in the South Caucasus. What took place between ethnic Armenians and the Ottoman Empire during World War I is an understandably emotional subject, yet it is essential to note that Azerbaijanis—although a Turkic people—were never part of the Ottoman Empire. Armenians nevertheless often simply call the Azerbaijanis “Turks,” conflating them with the Anatolian Turks, with whom they have cultural, historical, and even linguistic differences. Some observers see racist overtones in such a willful confusion, particularly given the more-than-scorn with which the term is used.

Recent Background and Questions of “Ethnic Cleansing”

As explained below, Armenians were not ethnically cleansed from Karabakh, despite claims by the Armenian diaspora to the contrary. By their own testimony, they were subject to no violence and chose on their own to leave. However, recent discussions about ethnic cleansing in the region necessitate a look back to 1987–1988. During those years, the conflict between Armenia and Azerbaijan initially erupted, in southern Armenia, even before the First Karabakh War of the early 1990s. It erupted as the Armenians expelled from southern Armenia about 180,000 Azerbaijanis who had resided there for generations, in what is historically the western part of the ancestral lands that they call Zangezur. Much of contemporary Armenia was for centuries under the sway of Azerbaijani khanates before these were absorbed into the Russian Empire.

The events of 1987–1988 were actually the fourth such expulsion of Azerbaijanis by Armenians in the twentieth century. Previous occurrences took place toward the end of Stalin’s rule (late 1940s and early 1950s) under the guise of Soviet administrative law, and also much more violently during the “re-Armenianization” military campaign in the years of the Russian Civil War (1917–1921), as well as during ethnic clashes earlier in the century (1905–1907). Nevertheless, during the Soviet period, the two peoples lived mostly harmoniously together, with innumerable interpersonal friendships, legendary cultural exchange, and significant degrees of intermarriage. This changed dramatically under Gorbachev’s glasnost and perestroika policies, when the opening of the Soviet Union to the world gave the international Armenian diaspora the chance to intervene in domestic Armenian affairs.

What Is the Present Situation?

This diaspora had overtly conserved for nearly a century all the divisive and xenophobic sentiments that were mostly repressed in Armenia proper under the Soviet regime. They supported an assassination campaign against Turkish diplomats in the 1970s and 1980s, and they constituted a main support of Karabakh separatism in the early 1990s and of the Karabakh leaders in power in Yerevan in subsequent years. It was this diaspora that has publicized around the world the false reports of recent ethnic cleansing of Karabakh. The prime minister of Armenia, Nikol Pashinyan, has himself publicly stated that there was no such cleansing and that the recent “antiterrorist operation” by the Azerbaijanis did not involve attacks against Armenian civilians.

To recall, this operation was the final phase of putting an end to the Armenian military occupation of sovereign Azerbaijani territory (this status underscored by four UN Security Resolutions in 1993), which began with the First Karabakh War in the early 1990s. In the fall of 2020, Azerbaijan launched the Second Karabakh War to dislodge those forces, which the European Court of Human Rights had found were not “local self-defense” forces but indeed supplied, managed, and directed from Yerevan, including soldiers and commanders from the main body of Armenia. Armenians who left the area following the recent antiterrorist operation consistently indicated, in interviews with local Armenian media, that they were treated respectfully and chose to leave voluntarily.

A mission of the United Nations to the region found literally no reports of violence against them, and no evidence that civilian objects had been targeted during Baku’s antiterrorist operation. Many Armenians who left shared with their interviewers, after they arrived in Armenia, that it was their own local Armenian authorities who advised—or ordered—them to depart. This would reasonably represent a failed attempt to demonstrate the impossibility of cohabitation. For there are Armenians who stayed—mainly born and raised during the Soviet era—and they were neither harmed nor persecuted, but rather supported by their newly arrived Azerbaijani neighbors and old friends in Baku, as well as by the government.

A significant factor in the prolonged unresolved conflict is the residual control exerted by Karabakh leaders, Robert Kocharyan (President of Armenia, 1998–2008) and Serzh Sargsyan (President of Armenia, 2008–2018), over the Armenian state apparatus. These Karabakhi leaders kept the Armenian population in poverty, enriching themselves and their associates. Pashinyan, who has been active in Armenian politics for over 25 years, rose to power in 2018 through popular street protests, opposing the long-standing rule of the Karabakh leaders. However, his leadership has been inconsistent, often swaying with political pressures from revenge-seeking forces within Armenia and the influential diaspora.

What Does the Future Hold?

Pashinyan has lately been going in all directions all at once, issuing one statement looking for peace in the morning followed by a bellicose one in the afternoon and an anodyne waffle in the evening. This seems to be a survival-habit learned from the whole of his political career, which in the past has been nevertheless marked by political courage and tactical, even sometimes strategic, intelligence. Now, however, he would seem to lack a unique foreign-policy strategy. He gives the impression, indeed, of having several different general visions that are not necessarily compatible, and all of which he pursues at the same time. This would explain why his short-term tactical moves have never, in the past five years, appeared to be integrated into a long-term plan.

Georgia’s Mikhael Saakashvili—who was president when Russia invaded his country in 2008 and is now imprisoned under the Russian-oriented government that subsequently took power in Tbilisi—has publicly advised Pashinyan to stop vacillating and equivocating. Pashinyan, Saakashvili says, needs to seize the opportunity while Putin is concerned with Ukraine and distracted. But can Pashinyan succeed? Russian state companies own the Armenian natural-gas distribution system as well as the Armenian state railroads company, and they are very highly influential in the banking system. Russia operates the Metsamor nuclear-power electricity-generating plant, and the Border Guard Service of Russia’s FSB provides security for nearly all of Armenia’s international frontiers.

This litany does not even mention the Russian military base at Gyumri with 3,000 soldiers and another air base with a squadron of attack helicopters at Erebuni Airport five miles from central Yerevan. Yet the signature of a peace treaty with Azerbaijan would, at a minimum, open the way for badly-needed fundamental changes in Armenia’s domestic and foreign policy. But can Pashinyan really withdraw from the Russian-led Commonwealth of Independent States, Collective Security Treaty Organization, and Eurasian Economic Union? Even if he can, still he is in no position yet to submit applications to the EU and NATO, as Saakashvili would have him do, since these organizations have their own rules and standards for even considering third parties to be members. 

However, Azerbaijan, Georgia, and Turkey are all ready to offer him support, like they have been since the late 2000s, when the Karabakh clique led by Kocharyan and Sargsyan refused it. Pashinyan, if he continues to trying to sit on two stools at the same time (Russia and the West), risks falling between them as the distance between them relentlessly increases. The first, absolutely necessary step is to sign a comprehensive peace treaty with Azerbaijan before the end of the year. Without this facilitating condition, nothing else is possible.

Robert M. Cutler was for many years senior researcher at the Institute of European, Russian and Eurasian Studies, Carleton University, and is a past fellow of the Canadian Global Affairs Institute.

https://www.eurasiareview.com/28102023-the-past-and-future-of-karabakh-and-south-caucasus-security-analysis/

Armenian PM Nikol Pashinyan attends Silk Road Forum

Georgia Online
Oct 28 2023

The Prime Minister of Armenia, ‘Nikol Pashinyan’ participated in the "Silk Road" international conference in Tbilisi on . He met with the Prime Minister of Georgia ‘Irakli Garibashvili’, Prime Minister of Montenegro, ‘Dritan Abazović’, Prime Minister of Azerbaijan, ‘Ali Asadov’ and other high-ranking officials at the conference. 

The Prime Minister of Armenia, ‘Nikol Pashinyan’ participated in the “Silk Road” international conference in Tbilisi on . He met with the Prime Minister of Georgia ‘Irakli Garibashvili’, Prime Minister of Montenegro, ‘Dritan Abazović’, Prime Minister of Azerbaijan, ‘Ali Asadov’ and other high-ranking officials at the conference. 

The Representatives of international organizations also took part in the event.

During the conference, Pashinyan presented the “Crossroads of Peace” project of the Armenian government along with its principles. 

The main four points of the project are as follows:

  • Sovereignty over Infrastructures: All transportation and energy networks, including roads, railways, pipelines, and power lines, fall under the jurisdiction of the countries they traverse.
  • Border Control and Security: Each nation conducts its own border and customs controls, ensuring the safety and security of both domestic and international transit.
  • Dual Use of Infrastructures: The designated networks serve domestic and international transportation needs, enhancing connectivity within and between nations.
  • Equal Access and Simplified Procedures: Countries benefit from shared infrastructures based on principles of equality and reciprocity, potentially leading to streamlined border and customs procedures.

About the Tbilisi Silk Road Forum 2023

The Tbilisi Silk Road Forum 2023 was held successfully. The central theme of the forum in 2023 was “connectivity”. It was held for the fourth time in Georgia.

The opening ceremony of the event was held on October 26 at the State Theater of Tbilisi Opera and Ballet with the participation of Prime Ministers of Georgia, Armenia, Azerbaijan and Montenegro.

The Silk Road Forum was founded in 2015 by Georgian Prime Minister Irakli Garibashvili. The Road Forum is an event of international importance in which more than 2000 delegates and guests from 60 countries participate this year. It has now become a global brand and has become an essential political-economic platform.


Hungarian Foreign Minister says Armenian Church had very important role in restoration of relations with Armenia

 13:58,

YEREVAN, OCTOBER 27, ARMENPRESS. The Armenian Apostolic Church had a “very important role” in the restoration of relations between Armenia and Hungary, Hungarian Foreign Minister Péter Szijjártó said in Yerevan on October 27.

He said his visit “puts an end to the decade when Armenia and Hungary didn’t have any diplomatic ties and contacts.”

Diplomatic relations between Armenia and Hungary were severed in 2012 by then-President of Armenia Serzh Sargsyan after Hungary extradited Ramil Safarov, the convicted murderer of an Armenian officer, to Azerbaijan. Armenian military officer Lt. Gurgen Margaryan was murdered by Azerbaijani military officer Ramil Safarov during a February 2004 training course organized by NATO in Hungary.

Gurgen Margaryan was asleep in his room when Safarov attacked him with an axe.

During the trial in Hungary, Safarov admitted in court to having killed Margaryan because of his hatred towards Armenia and Armenians. He was sentenced to life imprisonment by the Hungarian court. However, in 2012 Hungary extradited him to Azerbaijan upon Baku’s request. He was released upon arrival, glorified on the state-level and pardoned by President Aliyev. On the same day, then-President of Armenia Serzh Sargsyan severed diplomatic relations with Hungary.

10 years later, in 2022, Armenia and Hungary agreed to restore diplomatic relations.

“We made a decision with the Armenian Foreign Minister to restore diplomatic relations and build the kind of cooperation that would serve the interests of the two nations and countries. This restoration will help us, because there is common basis, Christianity, both countries are Christian countries for many centuries. We, Hungarians, are proudly saying that we enjoy a Christian statehood for over 1000 years, and then we come to Armenia, we see the dates and immediately become humbler. Certainly, Christianity, the Armenian Christian Church played a very important role in the restoration of our relations,” Péter Szijjártó said on October 27.

Before the decision on restoring the relations, Hungary expressed its good intentions by mediating the release of 5 Armenian POWs from Azerbaijan, he said.

Hungarian FM hopes Eastern Partnership will strengthen Armenia-EU ties

 14:29,

YEREVAN, OCTOBER 27, ARMENPRESS. Hungarian Foreign Minister Péter Szijjártó has expressed hope that the EU Eastern Partnership program will expedite the cooperation between Armenia and the EU and strengthen relations.

He made the remarks when asked whether Hungary supports Armenia’s involvement in the Black Sea Electricity Cable project.

A joint statement by Armenian Prime Minister Nikol Pashinyan and European Commission President Ursula von der Leyen released on October 5 said that the European Commission will support Armenia’s participation in regional projects such as the Black Sea Electricity Cable.

In terms of EU-Armenia cooperation, the Hungarian FM said that they are interested in the EU expansion.

“We’ve endorsed the development of foreign relations. Now, when the competitiveness of the EU is decreasing, we find foreign collegial relations to become more significant in such situations. The more countries the EU is able to support the more chances it will have to stop the tragic decrease of the EU competitiveness,” the Hungarian FM said, adding that that’s why they’ve always supported Eastern Partnership. “We want the EU to make maximum financial investments in that project. And we hope that the Eastern Partnership project will expedite your cooperation and strengthen your relations with the EU,” the Hungarian FM said at a joint press conference with Armenian FM Ararat Mirzoyan.

Armenian Prime Minister’s Office says informal meeting with Azerbaijani PM was useful for clarifications

 15:07,

YEREVAN, OCTOBER 27, ARMENPRESS. Prime Minister Nikol Pashinyan attended a banquet hosted by Georgian Prime Minister Irakli Garibashvili in honor of the participants of the 4th Tbilisi Silk Road Forum on October 26.

Azerbaijani Prime Minister Ali Asadov also attended the banquet.

The Prime Minister’s Office said that PM Pashinyan, PM Garibashvili and PM Asadov spent several hours together during that day and discussed numerous issues.

“During the dinner the three prime ministers sat around the same table. They sat around the same table before and after the dinner as well, in the reception hall of high-ranking guests. They were together for several hours during the banquet, the welcoming and farewell (other prime ministers were not present at the official banquet).

During these contacts the most various issues were discussed, including pertaining to the normalization of the relations of Armenia and Azerbaijan. The meeting was informal and unplanned.

“The Armenian side finds the contact with Azerbaijan’s Prime Minister to be useful, in terms of clarifying nuances of the positions of the parties in at least a number of issues. The Georgian side organized all official and informal events of the Silk Road Forum on the high level, for what Prime Minister Pashinyan thanked Georgian Prime Minister Irakli Garibashvili,” the Prime Minister’s Office said.

 

 



Prime Minister Pashinyan holds meeting with Hungarian Foreign Minister

 15:53,

YEREVAN, OCTOBER 27, ARMENPRESS. Prime Minister Nikol Pashinyan has met with Hungarian Foreign Minister Péter Szijjártó in Yerevan.

PM Pashinyan welcomed FM Szijjártó’s visit to Armenia and attached importance to the continuity of the Armenian-Hungarian dialogue and its consistent development in various directions, the Prime Minister’s Office said in a readout.

The Armenian Prime Minister attached importance to steps aimed at promoting partnership in the economy, education, culture, air connection and other areas.

Péter Szijjártó thanked for the warm reception and stressed the positive dynamics recorded in bilateral relations and the importance of high-level mutual visits between Armenia and Hungary. Péter Szijjártó added that the Hungarian government intends to open a consulate in Yerevan, which will in turn contribute to the expansion of the Armenian-Hungarian relations.

PM Nikol Pashinyan discussed the forced displacement of over 100,000 Armenians of Nagorno-Karabakh as a result of the Azerbaijani policy of ethnic cleansing in Nagorno-Karabakh, the current humanitarian situation and the steps taken by the government of Armenia in the direction of resolving existing issues.

Other issues pertaining to the Armenia-EU relations and regional cooperation were also discussed at the meeting.

Speaker of Parliament doesn’t rule out positive movements in relations with Türkiye

 16:27,

YEREVAN, OCTOBER 27, ARMENPRESS. Speaker of Parliament Alen Simonyan doesn’t rule out that Armenia’s relations with Türkiye will have a positive movement soon.

Speaking about the Crossroads of Peace project, Simonyan said it is aimed at peace and that the topic of “corridor” is no longer relevant, and that conversations about peace have intensified not only by Armenia but also by the leaders of neighboring countries.

“No one is surrendering anything. There will be open roads, there will be trade, Armenia’s economy will develop, and we will finally have peace. Drawing conclusions from the prime minister’s speech, as well as the latest information, I don’t rule out that our relations and the border [opening] with Türkiye will very likely have some positive movement soon,” Simonyan told reporters.

Central Bank of Armenia: exchange rates and prices of precious metals – 27-10-23

 17:14,

YEREVAN, 27 OCTOBER, ARMENPRESS. The Central Bank of Armenia informs “Armenpress” that today, 27 October, USD exchange rate up by 0.07 drams to 402.55 drams. EUR exchange rate up by 0.72 drams to 424.77 drams. Russian Ruble exchange rate up by 0.04 drams to 4.34 drams. GBP exchange rate up by 1.90 drams to 487.93 drams.

The Central Bank has set the following prices for precious metals.

Gold price down by 102.95 drams to 25561.01 drams. Silver price up by 2.12 drams to 297.28 drams.

BTA. Bulgaria, Reporters Without Borders Agree to Cooperate in Fight Against Misinformation

 17:15,

SOFIA, OCTOBER 25, ARMENPRESS/BTA. Following a meeting with Bulgarian Prime Minister Nikolay Denkov on Thursday in Brussels, the non-governmental organisation Reporters Without Borders (Reporters sans frontieres, RSF) welcomed his willingness and commitment to strengthening media freedom and the right to information in Bulgaria, RSF said on Friday. The organisation assured that it will continue to monitor the implementation of these goals in Bulgaria.

In the course of the conversation on the sidelines of the European Council meeting in Brussels Denkov responded positively to the RSF's call to take action in support of press freedom and the right of Bulgarian citizens to have access to reliable news and information.

Denkov expressed particular concern about the "misinformation and strong pressure journalists are subjected to in Bulgaria" and pointed out that his government is ready to use the experience of RSF to implement the necessary reforms at national and European level.

Denkov and RSF agreed to cooperate to guarantee press freedom and the right to information, using the experience and initiatives of RSF. 

"We welcome Prime Minister Nikolay Denkov's willingness to implement the necessary reforms to guarantee press freedom and the right to reliable information. We will remain vigilant in this difficult context and will be available to contribute to concrete results," RSF said in a statement.

According to the Reporters Without Borders' 2023 global media freedom index, Bulgaria is ranked 71st out of 180 countries, climbing 41 places in the ranking for the past two years.

(This information is being published according to an agreement between Armenpress and BTA.)