ARMENIA AND RUSSIA INTEND TO ESTABLISH CARGO TRANSPORTATION JOINT VENTURE

Armenian Prime Minister Andranik Margarian today received President of Russian Railway Public Corporation Gennady Fadeev and the delegation headed by him, who are in Armenia on a working visit to discuss cooperation issues in railway communication. In the course of the meeting A. Margarian and G. Fadeev emphasized that Russian Railway and Armenian Railway companies today have much untapped potential due to absence of direct communication between Russia and Armenia. Having emphasized the importance of peaceful settlement of regional conflicts, establishment of peace and stability via economic cooperation between the countries of the region, the parties specifically noted the important role of the reestablishment of transport communication. As reported by G. Fadeev, in the course of the working visit the parties will sign a joint statement on the intention to establish an Armenian-Russian joint venture on cargo transportation. It should be noted that agreement was reached to form a working group for elaboration of the organizational, financial, economic and technical concept of the company. Later a document on cooperation in the field of rail communication will be prepared for signing.