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Armenia: Karabakh Conflict No Risk for Investors, Says Minister

Kyiv, 9 May 1998 (RFE/RL) -- Armenia's government says its long-running conflict with neighboring Azerbaijan over the region of Nagorno-Karabakh no longer poses a threat to potential investors.

Armenian Trade and Industry Minister Garnik Nanagulian told the board meeting of the European Bank for Reconstruction and Development today that as far as Yerevan is concerned, Nagorno-Karabakh has "ceased to be an issue" that would increase risks for foreign investors. He said independent surveys of investors in Yerevan confirm this view.

Nanagulian said Armenia's President Robert Kocharian and Azerbaijan's President Heydar Aliyev reconfirmed their commitment to a three-year-old ceasefire, and toward pushing the peace process forward, during last month's CIS summit in Moscow. Nanagulian said both countries are now "aggressively" looking for a settlement that will provide a long-lasting peace for the ethnic-Armenian enclave.