The document states Russia’s and Armenia’s intention “to promote investment projects in both countries, integrated joint ventures and financial-industrial groups, and reciprocal participation in privatisation in compliance with either country’s legislation.”
“Russia and Armenia shall coordinate basic socio-economic reforms and harmonise their laws to regulate economic activities,” the treaty says.
The treaty stipulates that Russian-Armenian economic cooperation “shall take the form of mutually beneficial economic contacts between both countries’ companies irrespective of the subordination and form of property.”
Another five documents were signed—intergovernmental agreements on the promotion and mutual protection of capital investments, cooperation in tourism, the principles of partnership between Russian and Armenian regional administrations, and reciprocal recognition of education certificates and academic degrees; and a bilateral partnership agreement between Armenia and the Saratov Region.
Presidents Putin and Kocharian also signed a joint Russian-Armenian communique to summarise the results of Mr Putin’s official visit to Armenia.