Armenian National Committee of America-Western Region
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Glendale, California 91206
Phone: 818.500.1918
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PRESS RELEASE
April 12, 2007
Contact: Haig Hovsepian
Tel: (818) 500-1918

ANCA-WR Welcomes Passage of SB 515 by California Senate Committee

— Passage Extends "Sunset" of the California Armenia Trade Office

Sacramento, CA – The Armenian National Committee of America – Western
Region (ANCA-WR) welcomed news of the passage of SB 515 through the
California Senate Business, Professions and Economic Development
Committee. The Senate Committee passed SB 515, which extends the
"sunset" of funding for the California Armenia Trade Office (CATO) by 2
years until 2010. The CATO, which opened under the leadership of
Governor Arnold Schwarzenegger (R-CA) and California Senator Jack Scott
(D-Pasadena), was administered to stimulate trade between California and
the regions of Eastern Europe, Western Asia, and the newly independent
states of the former Soviet Union.

Testimony in support of the CATO was provided by Johnnie Nalbandian,
Executive Director of the Foundation for Economic Development, Inc.
which is the privately-funded sole contractor of the CATO. Mr.
Nalbandian discussed the past, present and future of the CATO and
specifically mentioned that the "gateway" that exists must be cultivated
to bring markets in Eastern Europe and Western Asia closer to
California. Mr. Nalbandian also discussed various companies that are
interested in pursuing opportunities through the CATO. Specifically,
Mr. Nalbandian mentioned feasibility studies that are in the process of
being conducted for Cedarlane Natural Foods and Mattel Toys. Marani,
which has already begun to work with CATO and can be found in almost
1000 stores, utilized demographic research studies done by the CATO to
identify marketing and resale opportunities. Other companies with which
the CATO works are Nic Nak clothing, which has agreed to work with an
Armenian company to knit children’s clothing to be shipped for the
winter season, and Tesco Stores, a United Kingdom-based retail grocery
chain which has already contacted the CATO to determine the viability of
products that it could import from Armenia.

Also providing testimony in support of the CATO was Souzi
Zerounian-Khanzadian, who testified on behalf of the Los Angeles –
Yerevan Sister City Association. Zerounian-Khanzadian discussed the
distinguishing characteristics of the CATO from previous trade offices;
namely that 1) it is a contract trade office, 2) it does not receive any
state funding, and 3) the authorizing legislation provides
accountability provisions. She also noted the stabilizing factors
associated with extending the sunset date which include helping
interested companies grow in California’s robust economy while
strengthening opportunities for California companies to reach out to
untapped regions in Eastern Europe, the Caucus region and Western Asia.

After testimony, the Committee passed SB 515 by a vote of 8-0.

"The CATO represents a wonderful opportunity for the State of California
to establish viable economic ties to global markets that are not yet
saturated," commented ANCA-WR Executive Director Andrew Kzirian. "We
are happy to see the California Senate Business, Professions and
Economic Development Committee move forward with this measure."

The Armenian National Committee of America 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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Photo Caption: The Foundation for Economic Development, Inc.