Yerevan/Mediamax/.On September 25, the Armenian Economic Forum was held in Universal City, South California. The goal of the forum was to present the current economic situation in Armenia to Americans and Armenians of Diaspora.
 
Armenian President Serzh Sargsyan welcomed the forum. “During past 20 years we have had achievements. But there were many omissions too and forgetting them would mean relieving our burden. Nevertheless, I would like to say that today’s Armenia differs from Armenia of 90s. Today, our country is much safer and the citizens are freer.”

The President said that “some omissions are conditioned by the fact that we have failed to fully use the potential of all Armenians.” “This is why we are visiting you from time to time to tell you that we attach great significance to your assistance and would like you to be more active on the path of development of Armenia. We need you and will be always glad if your influence in the development of Armenia’s economy becomes bigger,” Serzh Sargsyan said.

“This is a historical day for us since we present the banking system of Armenia in California for the first time. The banking system has greatly developed during 20 years of independence, undergone structural reforms, turning from the Soviet-time banking system into a structure which meets all international standards,” the Chairman of the Union of Banks of Armenia, Ashot Osipyan, said.

For his part, Chairman of the Central Bank of Armenia, Artur Javadyan, highlighted the invaluable role of the Diaspora in the development of various spheres of Armenia, including the financial one.

According to him, the reforms realized in recent years in this system have created a favourable investment and business environment which may provide profitable opportunities for the Armenians of the Diaspora.

“The Economic Forum of Armenia is a big event in the all-Armenian financial and banking life as it enables the sides to get maximum information from professionals of the sphere and to make correct decisions. We would like to especially underline the participation of our colleagues from the given sphere in the development of Armenia’s economy and first of all urge them to share their knowledge and information about the innovations in the sphere,” Artur Javadyan said, assuring that the Armenian financial system is recognized on the international level and meets high standards.

“This unprecedented forum aims to present one of the youngest but best branches of our economy- the financial and banking system. It is one of the most important components of mutual relations between Armenia and Diaspora and stimulates bilateral economic ties, financial investments to Armenia and profit from investments in our Motherland. We think South California is the most convenient place to establish a dialogue between Armenian banks and Armenian clients from the Diaspora,” Consul General of Armenia to Los Angeles, Grigor Hovanisian, said.

Following the forum, Armenian President Serzh Sargsyan opened the new building of Armenia’s Consulate General to Los Angeles, located in the center of Glendale. In the evening, the President and the members of the official delegation met with representatives of the Armenian community in Beverly-Hills Hotel for a dinner dedicated to 20th anniversary of Armenia’s independence.

Nane Avagyan, Mediamax’s special correspondent in Los Angeles