Government Renames Moscow “Ararat” Wine Brandy Company

YEREVAN (Noyan Tapan)–The Armenian government approved the Memorandum on mutual understanding between the Ministry of Finance and Economy of Armenia and the Ministry of Economic Issues of the Netherlands (the Program of Economic cooperation between Armenia and the Netherlands for 2002-2003).

To coordinate the activities of the Moscow "Ararat" wine and brandy company–the government decided to instruct the minister of agriculture to rename the company–and to transfer the company’s shares to other individuals thereby excluding possibility of abusing the trade name or the trademark. The Minister of agriculture will also see that the obligations imposed by the Armenian government are fulfilled under the agreement signed with the French "Period Richard" company–and to attract credits or prevent the company’s bankruptcy through an agreement on deposit.

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