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PRESIDENT BUSH PROPOSES REMOVAL OF JACKSON-VENIK AMENDMENT IN RESPECT TO RUSSIA

JANUARY 19. US president George W. Bush addressed a letter to the US Congress, requesting it to suspend the Jackson-Venik amendment to the trade law of 1974 dealing with Russia, Armenia, Azerbaijan, Kazakhstan, Moldova, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan. The amendment was removed in relation to Georgia and Kyrghyztan in 2000. According to ITAR-TASS, during their November meeting Bush and Putin agreed to remove the trade barriers that were left over from the cold war. The most serious of them is the Jackson-Venik amendment, which linked the trade and economic cooperation with the policy dealing with the emigration of the Jews. Early in January, the American legislator Tom Lantos announced his intention to submit to the House of Representatives a proposal for removal of the Jackson-Venik amendment in relation to Russia. His intention he motivated by the fact that the amendment has lost its importance in relation to present-day Russia, which removed all the barriers to emigration, and is currently the USA's partner in the international arena.

NEGOTIATIONS BETWEEN ARMENIAN GOVERNMENT AND ARMENTEL COMPANY TO END TODAY

JANUARY 19. A 60 day term of negotiations between the Armenian government and the "ArmenTel" company concerning the latter's intentions of introducing a per-minute billing system for local calls in Armenia will expire today at 12:00 a.m. It should be noted that it was David Haroutiunyan who was empowered to conduct the negotiations. Talking to journalists, the minister did not rule out the possibility that the negotiation process will be prolonged. However, official information on results of the negotiations will be announced only Jan 21, the Armenian Ministry of Justice told ARMINFO.

RUSSIAN FRONTIER GUARDS RECEIVE FREE MEDICAL ASSISTANCE FROM ARMENIAN DOCTORS

JANUARY 19. 1,200-1,500 Russian frontier guards serving in Armenia, as well as members of their families, received free medical assistance from Armenian doctors under the project implemented by the "Yerkir-Nairi" benevolent medical organization. President of the organization, Professor Pavel Ananikian said that today Russian frontier guards received medical assistance - from ordinary medical examination to complicated operations - worth a total of 200,000 USD. The Yerevan hospital of the Russian Ministry of Defense received medical equipment worth a total of 1,000 USD. Ananikian said that the "Yerkir-Nairi" benevolent organization was established in September 1998. It has 350 members, among whom leading Armenian doctors, representatives of the legislative and executive powers, big businessmen. During its 3-year and more activities the organization has organized 45 actions, rendering free medical aid to over 55,000 people. 60 general surgical operations, 70 ophthalmologic and over 1,000 stomatological operations have been performed. Various types of medical procedures and examinations have also been carried out. Necessary medical preparations were distributed among patients. "As continuation of centuries-long traditions between the Armenian and Russian peoples in the political, economic, scientific and cultural spheres, this arrangement is aimed at establishing new ties in the health sphere," Professor Ananilkian said.

ARMENIAN GOVERNMENT'S NEGOTIATIONS WITH ARMENTEL TO BE CONTINUED

JANUARY 19. The negotiation of Armenia's government with the telecommunications monopolist of Armenia - the company "ArmenTel" on the occasion of introduction of the system of per minute fee for the intracity telephone talks will be continued. The minister of Transport and COmmunication of Armenia Andranik Manukian informed by the Public TV of Armenia. We shall remind that the company intended to introduce the per minute fee as far back as in Sept of last year, however after the proposal of Armenia's justice minister David Haroutunian on conducting 60-days negotiations for this problem, the introduction of the per minute system was delayed. According to Manukian, the subscribers of Armenia's telecommunication should not worry, the negotiations are proceeding rather effectively. At the same time the minister refused to inform the results of the first phase of the negotiating process.

USAID-RESTORED SPORT COMPLEX TO OPEN BY GIUMRI-YEREVAN HIGHWAY JAN 22

JANUARY 19. A sport complex, restored on funds of USAID will be opened by the Giumri-Yerevan highway Jan 22, the US Embassy in Armenia told ARMINFO. Deputy Director of the USAID Europe and Eurasia Department Kent Hilly and Head of the USAID Yerevan office Kit Siemens (names as given) will take part in the opening ceremony. The sport complex was restored under the "Public works" program financed by USAID. The ceremony participants will visit an area where houses for 4,000 families from the disaster area are built under the "Housing certificates" program. This program is included in the Complex Rehabilitation Program of the disaster area financed by the Armenian government and USAID.

ARMECONOMBANK, ARMENIAN DEVELOPMENT BANK AND "HSBC ARMENIA" BANK DECLARED GOVERNMENT'S BEST AGENTS ON STATE INTERNAL DEBT MANAGEMENT IN 2001, "INECO" AND AGRICULTURAL COOPERATIVE BANK OF ARMENIA BEST DEALERS IN STB MARKET

JANUARY 19. The Armeconombank, Armenian Development Bank and "HSBC Armenia" bank are recognized the Government's best agents on the state internal debt management in 2001, and the Agricultural Cooperative Bank of Armenia (ACBA) and the "INECO" bank were announced the best dealers in the STB market. The Council of the Armenian Central Bank made this estimations at its yesterday's session with the participation of the State Internal and Foreign Debt Management Department of the Treasury of the Armenian Ministry of Finance and Economy. The bank's participation in primary auctions, turnover in the STB secondary market, the level of efficiency of transactions and the service of clients were taken into account during the contest, Head of the State Internal and Foreign Debt Managament Department of the Treasury of the Armenian Ministry of Finance and Economy Arshalouis Margaryan told ARMINFO. During the session, managers of the commercial banks were informed of this estimations. A program of monthly, quarterely and annual placement of state treasury bonds for 2002 was presented to them. According to information received by ARMINFO, this year the ministry intends to issue less STBs than in 2001, at the same time prolonging bond turnover, to secure 12-15% a.p..

ARMINFO REFERENCE: The Central Bank and the Ministry of Finance and Economy of Armenia concluded a contract with primary dealers (present Government agents) and dealers of securities market Sept 24, 1999. Over the last two years the agents were changed once (during the first ten days of Jan, 2002). As regards the dealers, they changed three times (at the end of Jan, 2000, in April of 2001 and in Jan of 2002). According to the recent data, the number of the Governemnt agents is 6: "HSBC Armenia," Armimpexbank, Armagrobank, Armenian Development Bank, Armeconombank and "Converse Bank." The list of dealers includes 13 banks, among which are Ardshinbank, Areximbank, Arminvestbank, "INECO," "Adana," Agricultural Cooperative Bank of Armenia, Armsavingsbank, Artsakhbank, "Anelik" banks, "Mellat," "Prometey," "ITB" and "Credit-Yerevan," which received dealer's rights. The "Credit-Service" and "Trust" banks were withdrawn from the list of dealers, as they found themselves under trusteeship, because of their not being able to bring their total capital to the CB-set norm.


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