Armenia interested in securities markets’ integration in CIS

11.11.2009 19:33
Armenia interested in securities markets’ integration in CIS

YEREVAN, November 11. /ARKA/. Armenia is interested in securities markets’ integration in CIS, Azam Usmanov, deputy chief of the CIS executive committee’s economic cooperation department’s monetary policy unit, said Wednesday at a press conference in Tsakhkadzor, Armenia, where the council of CIS member countries’ state agencies regulating securities markets held its 10th session.

“This interest is seen in everything. When a country is interested, certain success and achievements emerge, and the results,” he said.

Speaking about the impacts the world recession had on the states of the Commonwealth, Usmanov said that the crisis has mainly affected those countries integrated in the world economy.

He singled out Russia, Ukraine and Kazakhstan as countries stricken had by the crisis.

The remaining CIS countries were impacted by the world recession in late 2008 and early 2009, but not so hard.

“What for securities institution, I can say that Russia, Kazakhstan and Ukraine were leaders here,” Usmanov said adding that Armenia’s securities institutions are developing successfully in recent years.

He said that investments started flowing out of these countries, though the recession started subsiding in June 2009 and signs of growth became visible, especially in Russia.

He also said that stock markets’ indicators for recent days give ground for expecting rally soon.

Usmanov said that CIS countries’ GDP reduced 10% on average in Jan-Sept 2009, compared with the same period a year earlier, industrial output shrank 14%, freight traffic 19% and trade turnover 6%.

Things on many countries’ foreign exchanges in Jan-Sept 2009 were marked with devaluation of national currencies against the U.S. dollar, euro and Russian ruble.-0--

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