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Armenia, Belarus to deepen economic cooperation

Armenia, Belarus to deepen economic cooperation

PanARMENIAN.Net - Every effort is taken to contribute to development of Armenian-Belarusian relations, first of all in the field of economy, Foreign Minister of Belarus said.

“We seek new cooperation areas, with creation of industrial co-operatives, joint production of agricultural equipment among them,” Sergei Martynov told a joint press conference with Armenian Foreign Minister Edward Nalbandian.

He further noted that the countries also work in the field of leasing, with representation of a major Belarusian leasing company Promagroleasing OAO already open in Armenia.

Establishment of another Armenian-Belarusian house such as ArBe, opening of an Armenian brandy factory in Belarus, as well as joint production of transformers in Armenia is also planned.

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Annual deflation in the country was at 1.9% in August, compared to 1.3% deflation in July, according to central bank data.
Armenia has been listed in the top 20 among the world’s most economically free countries, raking the 18th out of 159 countries and territories.
Another of the issues the PM weighed in on was corruption. He said that new committees will be established to tackle the issue.
The foreign debt makes up around $4.5 billion, including the government’s $3.99 billion and the Central Bank’s $502.4 million debts.
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