YEREVAN. - The Armenian Ministry of Energy Infrastructures and Natural Resources and Rosgeo JSC signed a Memorandum of Cooperation in the Armenian Government Monday.

The document was signed between the Minister of Energy Infrastructures and Natural Resources Ashot Manukyan and CEO of Rosgeo JSC Roman Panov. Armenian PM Karaen Karapetyan was present during its signing.

Under the Memorandum, the sides will develop their cooperation in the direction of carrying out geological studies and complex search activities, mining planning, mine assessment, etc. It is also planned that the sides will establish a joint institution for the implementation of the projects in Armenia.

Prior to signing the memorandum, PM Karapetyan and Rosgeo CEO Roman Panov discussed issues on bilateral cooperation, referring to the programs and steps, which will contribute to their practical implementation.

The PM welcomed the expansion of cooperation with Rosgeo JSC, stressing that the government program underscores the importance of the comprehensive exploration of mineral resources, as well as the implementation of complex activities aimed at their transparent use. Karapetyan noted that the bilateral cooperation can serve as a productive platform for attracting investments and opening new workplaces. According to him, the executive is interested in implementing joint programs.

For his part, Panov presented the PM their vision on the prospects for cooperation. According to him, Rosgeo is ready to engage in intensive activity in Armenia. The CEO also stressed that the country is rich in mineral rocks, this basis having many significant prospects for development and strengthening.