April 30, 2002
For Immediate Release
Contact: Naiery Misserlian
tel: (818) 500-1918

SENATE BUDGET COMMITTEE APPROVES FUNDING FOR CALIFORNIA – ARMENIA TRADE OFFICE

SACRAMENTO, CA – The California State Senate Budget Subcommittee overseeing funding for California’s trade budget approved funding for an Armenia Trade Office in Yerevan after hearing testimony from the bill’s author, Senator Jack Scott (Pasadena/Glendale/Burbank) and Berdj Karapetian of the Armenian National Committee of America-Western Region.

The Subcommittee approves $149,000 to fund SB 1657, which would establish a regional trade office in Yerevan, Armenia to serve Eastern Europe, Western Asia and Armenia. The Trade office would promote trade relations in developing areas of the world that show emerging market potential. Technology, agriculture and tourism are among the areas seen as opportunities for trade and investment.

Karapetian accompanied Senator Scott earlier this year on an ANCA-WR sponsored trip to Armenia to meet with heads of state and key business people and explore the potential areas of economic cooperation. The ANCA-WR has been working very closely with Senator Jack Scott on the trade office issue and continues to lead the effort to establish the trade office in Yerevan.

“Armenia represents one of the most untapped, yet potentially most lucrative markets for California exports. Armenia lies at the crossroads of an area where until recently American companies had virtually no access,” testified Berdj Karapetian of the Armenian National Committee.

“We are glad to see that our legislators have recognized this diamond in the rough and are moving forward on this important initiative,” Karapetian later added.

Senator Scott, who urged the Subcommittee to approve funding for his bill, said he was very pleased that the funding was approved by the committee and will continue to have the funding approved by the full legislature.

“The benefits of this trade office to Armenia and California are very clear to me in trade, investment and tourism,” stated Senator Scott. The Armenian National Committee of America (ANCA) is the largest and most influential Armenian American grassroots political organization. Working in coordination with a network of offices, chapters, and supporters throughout the United States and affiliated organizations around the world, the ANCA actively advances the concerns of the Armenian American community on a broad range of issues.

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