YEREVAN, OCTOBER 2, NOYAN TAPAN - ARMENIANS TODAY. "All the agreements reached at our meetings with the French president have been put into practice," the Armenian President Robert Kocharian said during the September 30 joint press conference with the French President Jacques Chirac. According to R. Kocharian, two years ago he and J. Chirac discussed problems related to French companies' presence in the management of Armenia's water industry and in the banking system, and these problems have been solved. In his opinion, the entry of Credit Agricol into Armenia will have "a very positive impact" on the development of the country's banking system. He attached special importance to encouraging the entry of the French insurance company into Armenia as well in terms of promoting the development of the Armenian financial market. The Armenian president indicated some other directions of possible development of the Armenian-French economic relations, particularly the operation of a medical center with French investments. He expressed his optimism about the future of the Armenian-French economic relations. Jacques Chirac expained his optimism about extention of these relations by the high rates of Armenia's economic development. In his words, this progress is based on "the unique talent, experience and power of the Armenian people and youth". "If the economic development continues, the relations with the world, especially with France may develop rapidly," the French president noted. In his words, "the economic relations between Armenia and France are important, and they are developing in an atmosphere of trust." He said that "today investors trust Armenia, which encourages them to continue" their operation in the country. Robert Kocharian informed those present that a few years ago a friend of Jacques Chirac made investments for the purpose of constructing a small hydropower plant in Armenia, and now he intends to start the construction of a second one. The French president confirmed the words of his Armenian counterpart.

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