YEREVAN. - All CIS (Commonwealth of Independent States) countries have weak capital markets, Armenian Central Bank’s Vice Chairman Nerses Yeritsyan on Thursday stated in his opening remarks at the forum entitled “Global Opportunities of Local Markets: Infrastructures and Regulation,” which is being held in capital Yerevan.  

The event has brought together representatives from stock exchanges and central securities depositories of CIS countries. 

According to Yeritsyan, Armenia’s capital market did not register a fall during the international financial crisis because the market, as such, did not exist, and “there was just a bad start.” But Armenian Central Bank’s Vice Chairman assured the foreign guests that Armenia has a plan toward bringing the country’s capital market to a sufficient level of development within the next 6-7 years, and pension reforms shall play an important part in this. At present, however, the priority is given to integration with NASDAQ OMX market.