YEREVAN (Noyan Tapan)–Following meeting with Armenia’s high-level officials–including prime minister Aram Sargsyan–a Japanese-Armenian Cooperation Committee was formed Wednesday to increase Japanese investment and infusion in Armenia’s economy.
Armenia’s minister of industrial infrastructures Vahan Shirkhanian said that the creation of the cooperation committee was addressed during Armenia’s foreign minister Vartan Oskanian’s visit to Japan last year.
Shirkhanian added that the recent visit by Japanese businessmen to Armenia provided the opportunity for further understanding between the sides and created the impetus for the formation of the committee.
The minister said that the committee would pave the way for joint ventures and expect Japanese assistance in Armenia’s privatization initiatives.
Deputy industrial infrastructures minister Karen Adonts said that the Japanese side has expressed interest in exploring investment opportunities in the natural resources exploration–chemical production and civil development fields. Adonts added that the Japanese business delegation visited several factories–among them the Nairit chemical factory. He said that the Japanese Sumimoto Corp. has conducted extensive studies in Nairit and other chemical companies.
Sumimoto adviser Tasio Nishida said that following extensive discussions–the Japanese side has received a portfolio for possible investment ventures.
He added that his company was interested in assisting in reforms within the industrial and educational infrastructures.
"You are facing extremely difficult times–and we will attempt to assist you not only in the public–but the private sector as well," announced Nishida.