

YEREVAN, November 5, /ARKA/. Armenian President Serzh Sargsyan hailed a cooperation agreement signed between Armenian and Kuwaiti chambers of commerce and industry, the presidential press office told ARKA. The agreement was signed during President Sargsyan’s visit to Kuwait. Sargsyan welcomed the agreement during a meeting with the chairman of Kuwaiti Chamber of Commerce and Industry Ali Mohammad Thunian al-Danim.
An agreement was reached that a delegation of Kuwaiti Chamber of Commerce and Industry will pay a visit to Armenia to look into its investment potential and explore cooperation prospects. Ali Mohammad Thunian al-Danim invited Armenian businessmen to take part in Kuwaiti five-year development plan.
President of Armenia Serzh Sargsyan arrived on a two-day state visit to the State of Kuwait on Tuesday. His delegation comprised the Minister of Foreign Affairs Edward Nalbandian, Minister of Finance Tigran Davtian, Minister of Diaspora Affairs Hranush Hakopian, Minister of Culture Hasmik Pogossian, Minister of Education and Science Armen Ashotian, Chairman of the Armenia-Kuwait parliamentary group Vahan Hovannissian, Chairman of the Union of Industrialists and Entrepreneurs Arsen Ghazarian, and Chairman of the Industrial and Commercial Chamber Martin Sarkissian.
This was the first visit of the President of Armenia to a Gulf state since Armenia’s independence. At the international airport of Kuwait, the President of Armenia was welcomed by the Emir of Kuwait Sheikh Sabah al-Ahmad al-Jaber Al Sabah, the Crown Prince of Kuwait Nawaf Al-Ahmad Al-Jaber Al-Sabah, and other members of the country’s leadership.
On the first day of the visit, the President of Armenia met with the Speaker of the National Assembly of Kuwait Jassem Mohammad al-Kharafi and the Prime Minister of Kuwait Nasir Al-Muhammad Al-Ahamd Al-Jaber Al-Sabah. President Sargsyan also met with the Chairman of the Kuwait Investment Authority Bader Muhammad Al-Sahadin and the Chairman of the Economic Development Fund Abdulwahab Ahmad al-Bader.
In the end of the day the President of Armenia and the Emir of Kuwait had a meeting, after which the Republic of Armenia and the State of Kuwait signed a number of documents on bilateral cooperation. At the conclusion of the day, the Emir of Kuwait Sheikh Sabah al-Ahmad al-Jaber Al Sabah gave a state dinner in honor of the President of Armenia.
On the second day of his visit, the President of Armenia visited the Science Center of Kuwait and met with the President of the Commerce and Industry Chamber of Kuwait Ali Mohammad Thunian al-Danim.
In the afternoon, the delegation headed by the President of Armenia returned to Yerevan. M.M. -0-
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| Market exchange rates 02/09/2010 | ||||
|---|---|---|---|---|
| Currency | Symbol | Unit | Rate | Changes |
| USA Dollar | USD | 1 | 365.03 | 1.29 |
| Euro | EUR | 1 | 468.19 | 3.8 |
| Russian Rоublе | RUR | 1 | 11.90 | 0.08 |
| Favorable еxchange rates of banks 03/09/2010 | ||
|---|---|---|
| Currency | Buy | Sell |
| USD | 366 ProCreditBank |
367.5 “ArmSwissBank” |
| Euro | 467 Byblos Bank Armenia ProCreditBank |
472 ArmBusinessBank Armenian Development Bank |
| RUR | 11.85 "VTB Bank (Armenia)" BTA Bank |
12 ACBA-CREDIT AGRICOLE BANK Ameriabank ProCreditBank |
| Macroeconomics | ||
|---|---|---|
| Indicator | Term | Figures |
| economic growth,% | 2010-06 | 106.7 |
| GBP, billion AMD | 2010-06 | 1332 |
| inflation, % | 2010-07 | 103.7 |
| Budget deficit (proficit), bln AMD | 2010-06 | 16.9 |
| trade deficit, mln USD | 2010-06 | -1281.2 |
| foreign trade turnover, mln USD | 2010-06 | 2116.8 |
| foreign trade turnover, % | 2010-06 | 129.8 |
| Gross External Reserves, mln. USD | 2010-06 | 1780 |
| Monetary base, billion AMD | 2010-06 | 434.5 |
| Money supply, billion AMD | 2010-06 | 786.6 |
| Financial market | ||
|---|---|---|
| Indicator | Term | Figures |
| Anual interests on loans | ||
| Legal entities in AMD | 2010-06 | 13.8 |
| Legal entities in USD | 2010-06 | 12.6 |
| Individuals in AMD | 2010-06 | 22.6 |
| Individuals in USD | 2010-06 | 19.2 |
| Anual interests on deposits | ||
| Legal entities in AMD | 2010-06 | 8.4 |
| Legal entities in USD | 2010-06 | 7.2 |
| Individuals in AMD | 2010-06 | 9.8 |
| Individuals in USD | 2010-06 | 5.4 |
| Annual profitability | ||
| state stock of CBA, % | 2008-08 | 8 |
| fiscal stock of Armenia, % | 2010-06 | 9.6 |
| The percents of the CBA | ||
|---|---|---|
| Indicator | Term | Figures |
| Banking rate | 2010-07 | 13 |
| Repo | 2010-07 | 7.25 |
| Credit | 2010-07 | 10.25 |
| Depo | 2010-07 | 4.25 |