California, Armenia OK Agreement

Gov. Gray Davis and the foreign minister of the Republic of Armenia signed a memorandum of understanding Tuesday designed to strengthen economic, educational and cultural ties.

The agreement, signed at the Glendale Hilton before 100 guests, aims to enhance the exchange of investments and trade between California and Armenia, which is in its 10th year of independence after decades of rule by the former Soviet Union. “This means a lot to the economy of Armenia,” said Foreign Minister Vartan Oskanian, who added that the country’s unemployment rate is between 12% and 17%.

“But this has been a good year in Armenia and this agreement with California can be a tremendous boost to us and California,” Oskanian said.

During the first six months of 2000, Armenia exported $6.5 million worth of goods--mostly precious stones and metals--to the U.S., according to Davis’ office.

During the first six months of this year, the U.S. exported more that $8 million of goods to Armenia.

Davis praised the resiliency of the Armenian people who have endured genocide and countless invasions. He said Armenia was one of the first countries to offer assistance to the U.S. after the September attacks on the World Trade Center and Pentagon.

“We look to Armenia for strength and inspiration following the tragic events of Sept. 11,” Davis said. “We can both benefit from this agreement in these troubled economic times.”

More than 300,000 people of Armenian ancestry live in Southern California.

A UCLA student at the event said she was excited about the agreement. “This is historic and I hope this unites Armenians throughout California,” Adrineh Gregorian said.

George Pla, president of Cordoba Corp., a Los Angeles-based construction and engineering firm, said the agreement between the two governments will succeed, but only if elected officials let it.

“It is important for this memorandum of understanding that the governments get out of the way and let the businesspeople develop the economies of Armenia and California,” Pla said.