Armenia Italy Relations Discussed

YEREVAN (Noyan Tapan)–Two documen’s were signed during the official visit of the delegation of the Ministry of Foreign Affairs of Armenia to Italy–Foreign Ministry spokesman Arsen Gasparian said at a news conference Monday.

He reported that the first signed document was an agreement between the governmen’s of Armenia and Italy on encouragement and protection of investmen’s by which the sides pledged to create favorable conditions for the encouragement and protection of investmen’s in their territories–in particular–to elaborate the procedure of mutual compensation of losses as well as settle economic disputes arising between the two countries.

The second document–Gasparian states–was a protocol on consultations signed between the ministries of foreign affairs of Armenia and Italy.

The spokesman pointed out that under the protocol the ministries of foreign affairs of Armenia and Italy will cooperate through official working visits and meetings–from time to time will hold consultations on creating legal bases for cooperation in various spheres and for solving problems of international interest.

On the basis of the principle of reciprocal exchange of information regarding the activities of the governmen’s and parliamen’s of Armenia and Italy–the two countries will also discuss possible ways of solving major problems of foreign policy.

Gasparian also said that the deputy minister of industry and trade of Armenia Armen Petrossian–a member of the delegation–held a number of meetings with representatives of business circles of Italy.

The spokesman pointed out that Armenia and Italy have the possibility to cooperate in the fields of agrobusiness–foodstuffs processing–light and wood processing industries–furniture and building material production–sanitary engineering–operation of stone quarries–chemical industry–road and bridge construction–in the sphere of energy and tourism.

An agreement was reached with the Italian side to stage a special event in Italy to present information about the Armenian market–after which–said Gasparian–an exhibition of Italian goods will be held in Yerevan.

Gasparian said that a visit of the deputy foreign minister of Italy to Armenia has been scheduled for the near future.

It was decided that a delegation of parliamentarians would be invited to Italy following the 1999 parliamentary elections in Armenia.

Gasparian said a proposed visit to Italy by President Robert Kocharian was in the plans–however–a date had not been determined.

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