The signing ceremony of a document on the foundation of the Armenian-French Business Club took place at the French embassy in Armenia on October 4. The French Ambassador to Armenia Henri Reynaud called the day of the club’s foundation great and significant – it follows the celebrations dedicated to the 20th anniversary of Armenia’s independence and takes place on the eve of French President Nicolas Sarkozy’s state visit to Armenia. The ambassador underlined that at the meetings held during the recent visit of Armenian President Serzh Sargsyan to France, the sides attached importance to issues of Armenian-French economic cooperation. Meetings with heads of some 40 French enterprises who took interest in Armenia were organized as well. The ambassador stressed the importance of negotiations on signing the Association Agreement as part of Armenia-EU cooperation: the document will allow ensuring free movement for Armenian citizens and free turnover of commodities for Armenia. “France is the second largest investor in Armenian economy – after Russia - and the largest investor in the EU territory, and France is proud of this fact,” the ambassador stated, adding that none of the French companies operating in Armenia regrets making investments in Armenia; moreover, they set a good example for others. The ambassador said that the Armenian-French Business Club will help expand bilateral cooperation and establish direct ties with state authorities of Armenia. According to RA Minister of Economy Tigran Davtian, France is the most important trade, economic and investment partner of Armenia. “I am very glad that the companies, which were founded with French capital and operate in Armenia, have put forward this initiative. We welcome the initiative and we are sure that this format of self-organization may be quite efficient,” the minister said, noting that Armenia will provide all possible assistance to the club to help solve problems and develop bilateral economic cooperation. Secretary of RA National Security Council Arthur Baghdasarian expressed confidence that the club will promote activities of 155 companies with French capital in Armenia. Foreign Minister Edward Nalbandian said that the potential of Armenian-French cooperation is much greater. He expressed hope that the number of French companies will double in Armenia. Among the members of the club’s initiative group are: Armand Pinarbasi (Grant Thornton), Stepan Gishian (ACBA-Credit Agricol Bank), Patrick Lorin (Armenian Water and Sewage Company), Bruno Duthoit (Orange Armenia), Stepan Barakian (Bureau Veritas), Fred Davlat (Mayreni Lezu), and Didier Guillonnet (Baghdasarov Crystals Group).

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