Russian Armenian Banking Associations Sign Agreement

YEREVAN (Noyan Tapan)–The Presidents of the Russian and Armenian Banking Associations–Sergey Yegorov and Tigran Sargssian–signed a cooperation agreement Monday–calling for the establishment of new business relations between banks entering the Association and promotion of economic relations between the two countries.

As per the agreement–both sides pledged to organize various forums–workshops–seminars and banking expertise exchanges–and vowed to support the process of re-skilling of banking experts.

At a news conference held later Monday–Yegorov and Sargssian said they had "just fixed what actually existed long ago."

Yegorov said talented professionals were currently working in the Armenian banking sector–and stressed that cooperation between the two sides would be very efficient–with ten Russian banks already having expressed their willingness to work on Armenia’s financial market.

Yegorov also met with Levon Ter-Petrossyan to discuss issues pertaining to the further development of cooperation and participation by the two countries’ banks in this process–and of the prospects of developing economic ties between Armenia and Russia.

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