CALIFORNIA GOVERNOR ARNOLD SCHWARZENEGGER VETOES CALIFORNIA-ARMENIA TRADE CHAMBER
Azeri Press Agency, Azerbaijan
Oct 23 2007
Governor of California Arnold Schwarzenegger vetoed the law for the
authorization for a privately-financed California state trade promotion
office in Yerevan, Armenia. APA’s US bureau reports that the activity
of the trade office will be suspended as from the first day of 2008.
Representatives of the state had adopted the law ensuring the operation
of Armenian Trade Office until 2010.
Business, Transportation and Housing Agency said that the office in
Armenia provides no tangible benefit to the state’s economic growth.
Garrett Ashley, undersecretary for international trade of the agency
said that the office’s sales reached only $40,000 last year. On the
other hand, among the Post Soviet countries, trade office operated
only in Yerevan. Ms. Ashley said that Armenia holds the last place
in the Caucasus for GDP per capita.
"The website of Central Intelligence Agency shows that GDP in
Armenia increased only by 13%. This figure is 34% in the neighboring
Azerbaijan, the record set in the world," she said.
Undersecretary said that the office did not meet even minimal
requirements.
One of the office’s branches is located in Yerevan and the other in
Glendale, South California, compactly-settled by Armenians. /APA/