Armenian President Robert Kocharian is continuing his formal visit to Italy. As reported by Mediamax news agency, yesterday Carlo Azeglio Ciampi stated that his country is ready to support Armenia's closing in with the EU. "Caucasus has a strategic importance for Europe and the threat of instability reduces the prospects of progressive development", the Italian President noted. "We are ready to seriously develop relations with the EU within the neighborhood policy", Robert Kocharian stated in Rome. Italy is also going to assist the economic development in Armenia by immediate investment of funds. Upon completion of the meeting with the representatives of business circles of Italy Robert Kocharian signed a memorandum on cooperation in small and medium business.