Swiss Say Free Trade Zone in Karabakh to Boost Economy

YEREVAN (Noyan Tapan)–A meeting held at Karabakh President Arkady Ghoukassian’s office discussed business proposals made by Swiss businessmen. The meeting was attended by Karabakh Prime Minister Anushavan Danielian–government officials and visiting Swiss businessmen.

Frank Muller Company co-president Vardan Srmakesh said that the establishment of a free trade zone in Karabakh will foster the country’s economic development. The Swiss businessmen find it necessary that a mortgage system be introduced in the banking sphere of Karabakh to stimulate housing construction. Another proposal concerns the development of watch-making in Karabakh. Srmakesh announced his company’s readiness to set up watch production in Karabakh.

Another proposal concerned the establishment of cooperation with Swiss banks–developing international ties and improving Karabakh’s banking system.

The sides exchanged views on a wide range of issues. President Ghoukassian hailed the initiative of the Swiss businessmen and promising them that the proposals would be thoroughly studied.

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