September 28, 2002

Dear guests,
I am pleased to welcome the participants of the second exhibition of the Armenian products in California. The Armenian products and companies represented here come from various sectors of the economy, and show the growing potential of the Armenian economy. The growing commercial and trade links between the United States and the Republic of Armenia signify the solid foundation of the long-term friendship and partnership of our nations.

It is symbolic that Armenia Expo 2002 takes place in Southern California, home to the largest Armenian community outside of Armenia. In many ways, the Armenian American business community of Southern California has led the way in establishing trade links with the homeland, channeling investments and expertise to the Armenian companies, and serving as a large market for Armenia-made consumer products. In fact, Armenian exports to the United States have grown by more than 40% annually for the last two years consecutively.

There is still plenty of room to expand both in terms of Armenia’s trade with the United States and the State of California. It is an axiom that trade benefits all sides; increased exports from Armenia will strengthen the Armenian economy and increase the demand for quality American products as well. U.S. companies and joint ventures working in Armenia are primary sources of demand for U.S. goods and services in Armenia. It is encouraging that high-tech industries such as software manufacturing firms are the leading recipients of U.S. foreign investment in Armenia. Likewise, Armenian exports to the U.S. are comprised of finished products and services: software, jewelry, apparel, beverages, and clothing.

Economic and commercial cooperation is becoming an important part of the U.S.-Armenian relationship as well, both on federal and state level. The signing of the Memorandum of Understanding between California and Armenia in November 2001 was an important milestone in promotion of trade, economic, and cultural relations. And now, I am particularly delighted that the State Legislature passed, and Governor Davis signed into law a bill establishing a Trade Office in Armenia. This is a historic opportunity that will undoubtedly benefit California and Armenia equally.

The nature of the bilateral ties between our nations has not been static since the re-establishment of Armenia’s independence in 1991. The issues related to U.S. humanitarian assistance to Armenia, support for its democratic and economic development, and regional stability have been augmented by growing trade links and, since September 11, 2001, by military-security cooperation. The growing complexity of U.S.-Armenia relations will require greater interactions between the two governments, economic establishments, and individuals. In fact, the U.S.-Armenian Task Force has been meeting in Washington, D.C., for the last two days to discuss the future of U.S. Government assistance programs in Armenia and the gamut of economic cooperation between our countries.

The strength of U.S.-Armenian relations depends on our shared values, commercial cooperation, and common vision for a stable and secure world. Underlying this strength are the human links between the two countries, and the success of the Armenian American community. I am delighted to see the Armenian Diaspora play a greater role in the political, economic, and social life of the Republic. That is the objective of the Armenian Government; that is also the will of our people, both in the Republic and the Diaspora.

This process has already begun: issues related to trade and commerce increasing dominate the Embassy’s agenda and my trips to the Armenian-American communities all over the United States. When I arrived in Washington in November 1999, the most common question to me referred to the political developments in Armenia. Nowadays, I am more likely to be asked, “how and where can I invest in Armenia?” My message is that it is possible to invest and trade in Armenia, make profit, create jobs, and increase exports, and the presence of so many companies and participants is a good indication that I am not alone in thinking so.

In conclusion, I would like to thank the Armenian American Chamber of Commerce for their dedication and hard work in organizing Armenia Expo 2002. I wish success to the participants and attendees of the exhibition.