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.