U.S. Chamber of Commerce Impressed by Progress in Russia
Apr 24, 2002
Following a three-day trip to Russia, U.S. Chamber of Commerce President and CEO Thomas Donohue said he has been extremely impressed by the changes he has observed in Russia and the potential that exists to expand economic relations between Russia and the United States.
Donohue said he will inform major corporate members in the U.S. about the positive business environment he found in Russia. He will also report to President Bush's administration about what he has observed, in order to help it prepare for the upcoming summit.
"The weight of the U.S. Chamber of Commerce will be behind Russia's bid for accession to the WTO. We will work as hard on this as we did on China's effort," Donohue said at an Interfax press conference with American Chamber of Commerce in Russia President Andrew Somers.
President Somers noted, "there is no single individual who can be more influential when it comes to investment decisions. We think it is a positive sign that Mr. Donohue came to Russia to see what has been accomplished."
"We have had three days of productive talks with major American companies, the American Chamber of Commerce in Russia and the Russian Union of Industrialists and Entrepreneurs," Donohue said. "We have been impressed by the serious progress made toward a real market economy and can see the emergence of a vibrant entrepreneurial community."
According to Donohue the U.S. Chamber of Commerce will take proactive steps to push for the elimination of the Jackson-Vanik agreement and the change in Russia's designation to a market economy. "The Chamber of Commerce in the U.S. will press hard for these changes," he said.
Donohue's advice to Russia is to stay the course with its reforms and to eliminate such barriers to trade as high tariffs, subsidies and restrictions on investments. He emphasized that for investors it is imperative that intellectual property rights be observed and court decisions enforced.
"Capital goes where it is welcome and safe, and where it has the potential to make a profit," Donohue continued.
Over the course of his visit, Donohue said he has sensed what is felt in the United States, "that there has been a significant and positive shift in relations between our countries. I see significant opportunities to expand trade and investment."
The U.S. Chamber of Commerce, headquartered across form the White House in Washington, D.C., represents three million American companies of all sizes and sectors, including most of the nation's largest corporations and global investors. Donohue and his organization exert a strong influence on policies enacted by the United States Government.
The American Chamber of Commerce in Russia is the largest and most influential foreign business organization in Russia. Representing over 650 firms, the Chamber promotes the business interests of its members and works closely with the U.S. and Russian governments to develop a market environment attractive to investment and long-term business operations.
Donohue said he will inform major corporate members in the U.S. about the positive business environment he found in Russia. He will also report to President Bush's administration about what he has observed, in order to help it prepare for the upcoming summit.
"The weight of the U.S. Chamber of Commerce will be behind Russia's bid for accession to the WTO. We will work as hard on this as we did on China's effort," Donohue said at an Interfax press conference with American Chamber of Commerce in Russia President Andrew Somers.
President Somers noted, "there is no single individual who can be more influential when it comes to investment decisions. We think it is a positive sign that Mr. Donohue came to Russia to see what has been accomplished."
"We have had three days of productive talks with major American companies, the American Chamber of Commerce in Russia and the Russian Union of Industrialists and Entrepreneurs," Donohue said. "We have been impressed by the serious progress made toward a real market economy and can see the emergence of a vibrant entrepreneurial community."
According to Donohue the U.S. Chamber of Commerce will take proactive steps to push for the elimination of the Jackson-Vanik agreement and the change in Russia's designation to a market economy. "The Chamber of Commerce in the U.S. will press hard for these changes," he said.
Donohue's advice to Russia is to stay the course with its reforms and to eliminate such barriers to trade as high tariffs, subsidies and restrictions on investments. He emphasized that for investors it is imperative that intellectual property rights be observed and court decisions enforced.
"Capital goes where it is welcome and safe, and where it has the potential to make a profit," Donohue continued.
Over the course of his visit, Donohue said he has sensed what is felt in the United States, "that there has been a significant and positive shift in relations between our countries. I see significant opportunities to expand trade and investment."
The U.S. Chamber of Commerce, headquartered across form the White House in Washington, D.C., represents three million American companies of all sizes and sectors, including most of the nation's largest corporations and global investors. Donohue and his organization exert a strong influence on policies enacted by the United States Government.
The American Chamber of Commerce in Russia is the largest and most influential foreign business organization in Russia. Representing over 650 firms, the Chamber promotes the business interests of its members and works closely with the U.S. and Russian governments to develop a market environment attractive to investment and long-term business operations.