Armenia And China Establish Cooperation

BEIJING (Armenpress)–The Chinese government will–on the basis of mutual respect–equality–reciprocity and non-interference in each other’s internal affairs–raise the friendly and cooperative relations between China and Armenia and their armed forces to a new high–according to a report by the Xinhua news agency.

Hu Jintao–Chinese vice-president and vice-chairman of the Central Military Commission–made the remarks in a meeting with Armenia’s Defense Minister Serge Sarkissian on Wednesday.

Hu said there is a traditional friendship between the two peoples–and since the two countries forged diplomatic ties–bilateral relations have had a sound and steady development. Bilateral cooperation in politics–economy–science and technology have continuously expanded–he said.

Noting that there are no fundamental conflicts of interest between the two sides–Hu pointed out that to further Sino-Armenian friendship and cooperation is not only in the best interest of the two peoples–but also conducive to region’s peace and stability.

Hu voiced his appreciation for the Armenian government’s "One-China" stance. Hu also briefed the visitors on China’s principled position on Taiwan and anti-terrorism.

Sarkisian said that the Armenian people cherish their deep friendship with Chinese people–they admire the Chinese people’s accomplishmen’s in reform efforts–and wish Chinese people further achievemen’s.

He stressed that the Armenian government considers its relations with China vitally important–and that bilateral relations and cooperation in various fields have seen continuous progress.

Also–friendly exchanges and cooperation between the two armed forces were further developed–according to Sarkissian.

He reiterated the Armenian government’s "one-China" policy–that the government of the People’s Republic of China is the sole legitimate government representing the whole of China.

Agreement Establishing Chinese-Armenian Joint Venture Signed

An agreement according to which Nairit Joint-Stock Company and the Shansi Group Joint-Stock Company producing synthetic rubbers will set up a joint venture–Chinarmenprene–producing chloroprene rubber in China was signed in China on October 12.

According to First Deputy Minister of Industry and Trade Ashot Shahnazarian–the Armenia’s invested $14 million–which is equivalent to 40 percent of the shares–25 percent of which is the cost of technologies developed by Armenian scientists and 15 percent is the cost of the production line to be introduced. According to Shahnazarian–a new plant is to be built in China. A Chinese bank will allocate a credit of $100 million at an annual interest rate of seven percent for the purpose. Construction of the plant will be completed in December 2003 but will be put into operation in April 2004. The plant will have a yearly productive capacity of 30-35 thousand tons of products. Shahnazarian said that in producing rubber Chinarmenprene will use carbide instead of gas–which will make it possible to ensure lower costs. The Armenia’s expect an annual profit of some $4-6 million as a result of the deal.

Shahnazarian said that the establishment of an Armenian-Chinese joint venture in Armenia with the participation of Nairit-2 is expected in the future.

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