Swiss Company to Help Produce Processing Industry

YEREVAN (Noyan Tapan)–Memorandums on mutual assistance regarding the produce processing industry were signed between the "Andre & CIE" Co. and the Government of Armenia in Geneva last week.

The signatories are planning to develop programs regarding the production and processing of agricultural produce imported to Armenia on a contractual basis and jointly sponsor these programs–the Ministry of Finance and Economy reported.

"Andre & CIE" is expected to supply appropriate equipment for the processing of agricultural produce and pledges to purchase the processed produce within the next five years.

The memorandum stipulates that a cooperative agreement be signed in a two-month period and a special fund be established.

The Armenian Development Agency will act on behalf of the Armenian government as a full manager of the program. The "Hayminex" company of Switzerland was appointed "Andre & CIE’s" agent.

From the Armenian side the memorandum was signed by Deputy Minister of Finance and Economy Edward Mouradian and Deputy Minister of Industry and Trade Movses Dzavarian.

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