Itar-Tass quoted Mr Tigran Sarkisyan Armenian Prime Minister as saying that during recently held talks with Russian cabinet head Mr Vladimir Putin, the creation of a free trade zone at the Mars power-engineering factory in Yerevan was discussed ushering into a new unprecedented sphere for encouraging investments.

The Mars plant along with other four Armenian factories was transferred into Russia’s property several years ago to repay the republic sovereign debt.

The republican premier stated that “The idea of creating a free trade zone at Yerevan’s Mars factory has been discussed for long with Russian counterparts at the Intergovernmental Commission on economic cooperation between Russia and Armenia. We came to agreement at the latest meeting of the commission that Armenia would work out a bill on a free trade zone at the Mars factory.”

The premier said “The bill is ready we shall approve it at a government meeting, shall submit it to the legislature and it will be debated at the National Assembly in the first quarter of the New Year.”

Mr Sarkisyan said “At the same time, we spoke with Vladimir Putin of major projects that can be of mutual interest, the Armenian premier continued. For instance about a future of the Nairit chemical plant in Yerevan, making synthetic rubber long term prospects for this enterprise and investments to be made.”

According to the prime minister, the factory needs large investments to modernize production and to ensure an inflow of sophisticated technologies. Mr Sarkisyan said “I mean investments to the tune of between 70 and 200 million US dollars.”

He said that “The Intergovernmental commission always centers on construction of a North-South railway and possible participation of the Russian side in the project.”

Tariffs on Russian gas were another item at the talks in St. Petersburg. The premier noted that “Following the New Year holidays, we shall start, as every year, talks with the Russian side on gas prices.”

The Armenian cabinet head stated that he spelled out Putin the Armenian government’s stand on this question.

(Sourced from Itar-Tass)