For Immediate Release: April 27, 2010
Contact: Mary Trupo (202) 482-3809
U.S.-Russia Business Development and Economic Relations Working Group Pursues Several Avenues of Cooperation
WASHINGTON — The positive role that trade and investment play in enhancing industrial modernization, creating jobs, and strengthening relations between the United States and Russia highlighted discussions today between U.S. and Russian officials.
Commerce Secretary Gary Locke and Russian Minister of Economic Development Elvira Nabiullina led a senior-level interagency discussion aimed at strengthening commercial relations between the two countries. The talks focused on identifying new areas of commercial cooperation that could benefit U.S. exporters trying to access the Russian market, improving procedures to facilitate business travel in both directions, and encouraging closer cooperation on customs and other matters.
“Our two Presidents have highlighted the need to increase the levels of trade and commercial interaction between our two countries,” Commerce Deputy Under Secretary for International Trade Michelle O’Neill said. “This meeting is an important step in creating an environment where bilateral cooperation in the fields of trade and economic development can thrive.”
Based on recommendations from the business communities of both countries, the interagency delegations also discussed major U.S.-Russian joint commercial projects, export controls, small business development, and other issues. Potential cooperative projects in such areas as energy efficiency, innovative technologies, utilization of associated gas from oil wells, and aerospace were also discussed.
The heads of major U.S. and Russian business associations were able to observe today’s plenary session and provided recommendations to the Working Group following the talks. After the session, O’Neill and Deputy Minister for Economic Development Andrey Slepnev signed a Memorandum of Intent on the exchange of information on the promotion of inward investment.
This meeting represents the first full session of the Working Group for Business Development and Economic Relations, which is co-chaired by the Commerce Secretary and Minister of Economic Development, and is part of the Bilateral Presidential Commission that Presidents Obama and Medvedev announced at their 2009 Summit in Moscow.
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