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[gamavor]

In the recent years many post command-administrative economies from the former Eastern Block with different rate of success started the painful but necessary transition to market economy. This process was accompanied with significant legislative changes intended to create new framework for the newly “emerging market” economies.

The core issue in these years was the privatization of the socialist industry and agriculture. While some of the enterprises were summarily closed down due to their ineffectiveness or because of lost markets, others made it and continued their existence.

The process of privatization was marked with emerging of another unknown previously type of market – the Stock market.

Many rushed into creation of local (national stock markets) and their demise or rather photosynthetic existence pressed them to think of broader forms of existence. The experiences in that regard are many and inevitably they led to regional internationalization of the stock trade. Some of the brighter examples are the Baltic states stock exchange, The Balkan Pull, Central European Stock Exchange and last but not least the merger of Frankfurt Stock Exchange with previously existing Benelux stock exchange. (I think there were few more mergers, but I’m too lazy now to do researchJ)

Honestly speaking neither of Transcaucasus republics can make it on its own. Each has certain industry areas, which are quite well developed, but without fresh investments, neither could be competitive enough to survive in the global market. Stock exchanges besides their obvious purpose provide a mechanism for investments, which is less formal and less bureaucratic.

To make long story short, I think it is about time to start a Transcaucasian Stock Exchange with main office in Yerevan of course. Just imagine what type of companies will be traded. Azeri oil, Armenian Diamonds, Georgian…. never mind, local Russian giants – Lukoil, Gazprom, Transmashinsveskomdostroiim, etc…J

[Armen]

GEORGIA WOULD WANT ARMENIAN COMPANIES TO PRIVATIZE ITS PORTS

YEREVAN, NOVEMBER 16. ARMINFO. Georgia would be glad if Armenian
companies took part in the privatization of its ports, says deputy
minister of economic development of Georgia Gena Muradyan.

Georgia has already given Armenia the list of 372 on-sale facilities
but has not received any applications yet. Instead it received offers
from Russia, the US, Turkey and some other countries.

Armenia's transport and communication minister Andranik Manukyan says
that the involvement of Armenian companies in the privatization of the
Georgian ports is storngly desirable but hardly possible as few of
them have the necessary money. "If I had it I would apply for the
ports myself," says Manukyan noting that Pres.Kocharyan has urged rich
diaspora Armenians to take part in the privatization of the Georgian
ports.