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Wednesday, January 19, 2011

Armenia, Russia to create nine joint venture in defense industry

Establishment of 9 joint Armenian-Russian companies in the sphere of military and industrial complex within the frames of military and industrial cooperation between Armenia and Russia is a good sample of partnership between our countries, Secretary of National Security Council Artur Bagdasaryan told journalists.

"The companies were established on the basis of the cooperation documents signed last year. Besides establishment of 9 joint-stock companies, several Armenian companies within the frames of the Russian-Armenian arrangements will be involved in the big holdings of the military and industrial complex. This will increase potential of Armenian companies much and will promote establishment of new companies in Armenia. Except the bilateral military and technical cooperation between Armenia and Russia, the military and technical cooperation within the frames of the CSTO was also deepened in 2010.

In particular, a document was signed between Russian Federal Service for Military and Technical Cooperation and Armenian National Security Council, on the basis of which we started cooperating in 11 directions of the military and industrial complex, which will make it possible to upgrade and provide Armenian armed forces with the needed equipment", - Bagdasaryan said.

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