YEREVAN, December 9. /ARKA/. Armenian Prime Minister Tigran Sargsyan and Lebanese President Michel Suleiman met in Yerevan on Friday.

Expressing satisfaction at cooperation between the two countries’ banking sectors, they said that there are still untapped resources for investment, Armenian government’s press office reported.

One of 21 commercial banks operating in Armenia is Byblos Bank Armenia, a subsidiary of Lebanese Byblos Bank SAL that holds 65% in the subsidiary with the remaining shares owned by EBRD (25%) and OPEC International Development Fund (10%).

Sargsyan and Suleiman also looked into possibilities of establishing cooperation in financial, agricultural sectors saying that both countries are able to increase bilateral trade.

They stressed the importance of Armenian-Lebanese business conferences saying they would spur mutual investments.

The also spoke about possible development of tourism, which can increase the number of flights between the two countries.

Some 100 companies with Lebanese capital operate in Armenia.
Lebanese companies invest money mainly in banking, insurance, services and real estate sectors. -0-