Politics

President Serzh Sargsyan hails agreement between Armenia and Kuwaiti chambers of commerce and industry


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-

05/11/2009 09:51



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Market EUR exchange rates
Market exchange rates 15/03/2010
Currency Symbol Unit Rate Changes
USA Dollar USD 1 394.48 1.86
Euro EUR 1 540.91 0.9
Russian Rоublе RUR 1 13.44 0.04

Favorable еxchange rates of banks 15/03/2010
Currency Buy Sell
USD 394
ArmBusinessBank
396
Ameriabank
Ardshininvestbank
Areximbank-Gazprombank Group
“ArmSwissBank”
Euro 540
“ArmSwissBank”
546
Ameriabank
RUR 13.35
BTA Bank
13.5
ACBA-CREDIT AGRICOLE BANK
Ameriabank

Macroeconomics
Indicator Term Figures
economic growth,% 2009-12 85.6
GBP, billion AMD 2009-12 3165.5
inflation, % 2010-01 101.7
Budget deficit (proficit), bln AMD 2009-12 148.3
trade deficit, mln USD 2009-12 -2606.4
foreign trade turnover, mln USD 2009-12 4001.9
foreign trade turnover, % 2009-12 73
Gross External Reserves, mln. USD 2009-12 2003.41
Monetary base, billion AMD 2009-12 511.7
Money supply, billion AMD 2009-12 815

Financial market
Indicator Term Figures
Anual interests on loans
Legal entities in AMD 2010-01 14.8
Legal entities in USD 2010-01 13.5
Individuals in AMD 2010-01 22
Individuals in USD 2010-01 17.6
Anual interests on deposits
Legal entities in AMD 2010-01 6.5
Legal entities in USD 2010-01 5.4
Individuals in AMD 2010-01 9.1
Individuals in USD 2010-01 5.3
Annual profitability
state stock of CBA, % 2008-08 8
fiscal stock of Armenia, % 2010-01 8.8

The percents of the CBA
Indicator Term Figures
Banking rate 2010-03 13
Repo 2010-03 6.5
Credit 2010-03 9.5
Depo 2010-03 3.5



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