PRESS RELEASE
August 15, 2005

Ambassador Markarian Meets U.S. Ex-Im Bank Acting President

On August 12, 2005, Ambassador Tatoul Markarian met with James H. Lambright, Chairman and Acting President of the U.S. Export Import Bank and discussed prospects for U.S.-Armenian trade relations and the potential for the Bank's programs in Armenia.

Mr. Lambright acknowledged Armenia 's progress in economic reforms and positive macroeconomic trends, noting that Export-Import Bank had announced in March the availability of short-term and medium-term financing for Armenia 's public sector as well. Ambassador Markarian presented Armenia 's current economic and legal reforms, and the efforts by the Government of Armenia to promote trade and investment.

It was agreed to work together to promote Ex-Im Bank's programs in Armenia and to review Armenia's risk classification in international institutions to better reflect the country's significant achievements in securing macroeconomic stability and fostering double-digit economic growth.