Welcome Observations by Mr. Harshad R Mehta, Senior Member, FICCI

H E Robert Kocharian, President of Republic of Armenia
Mr Harin Pathak, Hon’ble Minister of State for Home Affairs & Personnel, Public Grievances and Pensions, GOI
Mr Deepak Vohra, High Commissioner of India to Armenia
H E Armen Baibourtian , Ambassador of Armenia in New Delhi
Mr V K Mathur, Chairman, CII Central Asia Committee & Chairman & Managing Director, INAPEX Ltd  & 
Distinguished members of the delegation

‘Pari Yegak Hntkasdanoum’, Welcome to India

On behalf of FICCI, Federation of Indian Chambers of Commerce and Industry-one of the Apex Chambers of Commerce and Industry of the country, it is a great privilege for me to extend a warm welcome to you, Your Excellency and distinguished members of your delegation. We consider your visit important in strengthening our links with Armenia, a country with which India shares historical links.

The presence of Ministers of Armenia – 

Mr Vartan Oskanian, Minister of Foreign Affairs, 
Mr Davit Lokian, Minister of Agriculture, 
Sergo Yeritsian, Minister of Education and Science, 
Karen Chshmaritian, Minister of Trade & Economic Development, 
Mr Harin Pathak, Hon’ble Minister of State for Home Affairs & Personnel, Public Grievances and Pensions, Government of India 
Reflects our unique public-private partnership. 

Friends, President Kocharian needs no introduction. He was elected to the office in April ’98, marking the second presidential administration of the Republic of Armenia in post Soviet independence. Kocharian administration is renowned for its visionary leadership to integrate Armenia into regional and global economy with its open door policy.

Commercial relations between India and Armenia date to the medieval period, the first recorded visit being that of Armenian trader Thomas Cana who reached the Malabar Coast in 780 AD. In the 16th century, Armenian communities emerged in Kolkata, Chennai, Mumbai and Agra. In the Soviet era, Armenia (the smallest of the Soviet Republics and the most industrialized) was an important market for Indian products like medicines, textiles, garments, leather goods and light industrial items. 

Armenia is a small but strategically located country with a population of more than 3 million. Since, its independence in 1991, Armenia is one of the first countries within the CIS to record positive GDP growth in recent years. Excellency, your country has developed a highly sophisticated industrial sector, supplying the foreign markets with machine building equipment, defense electronics, textiles, chemicals and other manufactured goods.

Although Armenia’s domestic market is relatively small, its increasing openness to foreign trade and investment and market forces means that opportunities for Indian companies are increasing. This is evident from the presence of some leading companies in Armenia like my own – Rosy Blue to Sterlite Industries, Stic, Mahindra & Mahindra, NIIT etc.

When we look at the commercial interaction, the bilateral trade between our two countries stood at US $ 2.6 million in 2002-2003. Our principal exports comprise of cotton yarn and fabrics, inorganic and organic chemicals, pharmaceuticals, electronic goods, dyes and intermediates, plastic and linoleum products, transport equipment, machinery and instruments etc. The main items of import are buffalo meat and poultry products, cigarettes -- raw material for leaves, engines, chemicals and metal ores and metal scrap. India can offer Armenia its expertise in Agriculture, mining, telecommunication, power generation, tourism and other sectors.

Your Excellency, the potential is there, we have now to try and remove the obstacles to enhance bilateral trade and economic co-operation. Business community feels that the absence of direct flights is one of the reasons impeding the economic cooperation between two countries. Similarly, inter bank arrangements are also crucial for development of two way trade.

At the private sector level FICCI and Armenian Chamber of Commerce signed a Memorandum of Understanding during the visit of H E Tatoul Margarian, Deputy Minister of Foreign Affairs, Armenia in May 2003. The MOU will provide a regular forum to exchange business delegation, information on business opportunities, etc. to enhance mutually beneficial economic cooperation.

FICCI has identified the following areas for closer economic cooperation:

• Drugs, Pharmaceuticals and chemicals
• Agro-products & Small scale Industries
• Information Technology etc.

I would like to briefly share our family’s experience of working with Armenia. Our company Rosy Blue and Arslanian Family of Antwerp joined hands more than 30 years ago in the business of diamonds. It has been a satisfying and rewarding association with our partners providing manufacturing expertise with global marketing inputs by us. This Joint Venture has been presenting very good results as seen in the Lori factory operations netting exports of over US$ 50 million a year. Another standing example is the Talin factory. We employ over 500 workers processing over 6000 carats of diamonds per month.

We are especially impressed with the Armenian education system which provides high education and talented work force with high technological expertise. It is truly a blessing from the skies for us! I thank the excellent Armenian Education system for that.

We share many common traits and value our ancestral traditions with pride. Even differences in language are not a problem in business relations what with common words in money matters like ‘daz’ meaning ‘ten’ and ‘hazar’ meaning ‘thousand’. I think that, this by itself should be a great start for mutually beneficial business relationship. 

May this visit of yours start a new trajectory of cooperation in this new millennium. With these words, Excellency, may I once again extend to you and all the members of your delegation a very hearty welcome.

Thank you