YEREVAN (Armenpress)–The Armenian-Chinese Biotechnological Research and Engineering Center was inaugurated in the Armenian Biotechnology Institute last week.
The Center will become the second Armenian-Chinese scientific-technological cooperative effort. The first cooperative company was Nairit-2–a shared synthetic rubber making factory. The Nairit-2 was intended to develop Armenian-Chinese collaboration for the production of rubber.
The Center will deal develop and continually modernize applied biotechnological devices in order to raise the quality of the devices to international standards and then to sell them in China–Armenia and other international markets.
The agreement’s is binding for ten years. The Armenian side will invest its intellectual potential in the Center and the Chinese pledged to invest monetarily with $200,000 annually.