YEREVAN, Armenia, Sept. 28 (Xinhua) -- The government of Armenia Thursday approved a draft measure on signing an accord with India to promote economic investments, local media reported.
The agreement will facilitate investments in both countries and guarantee protection for investors, said Hovhannes Azizyan, Armenian deputy minister of economic development and investments.
"We expect to see a number of new Armenian-Indian projects launching in areas of information technologies, textile, processing industries and other sectors," Azizyan said.
The agreement will include provisions on loss compensation, dispute resolution and regulation of alienation of property.
India was one of the first countries to recognize Armenia's independence in 1991. Diplomatic ties between the two countries were established in August 1992.
