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YEREVAN, AUGUST 11, ARMENPRESS: A senior advisor to Armenian president on economic issues, Vahram Nercissiantz, met August 6 in the White House with ambassador Daniel Frid, who is chief director of Europe and Eurasia department with US National Security Council and a special aide to US president George Bush.

Armenian foreign affairs ministry said during the meeting Mr. Nercissiantz had provided a detailed picture of the main lines of Armenia’s economic policy and Armenia’s economic development indices and current trends.

In a reference to the country’s economic challenges, he, particulalry, underlined the necessity for developing a program for long-term loans to boost small and medium-sized businesses.

Armenian foreign affairs ministry said the ambassador Frid assessed highly the pace of economic reforms carried out in Armenia and private sector development speed, and called on the Armenian authorities to pay more attention to attraction of direct foreign investments.

Prospects for economic development of the Southern Caucasian region were discussed in this context. The White House official, particulalry, expressed an opinion that improvement of Turkish-Armenian relations and opening of borders would greatly enhance new investments into Armenian economy.

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