Meeting of Presidents with CEOs a Big Step Forward in U.S.-Russia Business Relations

June 24, 2010

Presidents Medvedev and Obama Meet with
Group of Prominent U.S. and Russian CEOs To Spur Economic Growth Between
the Two Countries

WASHINGTON–A meeting today of prominent CEO’s from the United States and Russia
with Presidents Medvedev and Obama marked a major step forward in
U.S.-Russian business relations. The meeting was held today as part of
the summit between the U.S. and Russia.

Alcoa Chairman and CEO Klaus Kleinfeld, who also serves as Chairman of
the U.S.-Russia Business Council (USRBC), said:

“This meeting was a unique moment in bilateral relations and I thank
Presidents Medvedev and Obama, as well as my fellow CEOs, for their time
and commitment to improving business relations between the U.S. and Russia.
Strong economic ties breed strong political relationships and expanded
trade and investment will be the foundation upon which security
cooperation can be sustained,” said Kleinfeld.

“In our meetings today we built on the work we began this past year
between my U.S. and Russian colleagues on three priority areas:
promoting growth through innovation; enhancing management culture; and
creating a more friendly investment climate for everyone,” said
Kleinfeld. “In less than a year, we have seen progress made on all

“As a follow up to today’s meeting, the USRBC and I will work to keep
this CEO dialogue going in conjunction with existing U.S.-Russia
business dialogues, and in parallel to the Presidential Commission
process,” added Kleinfeld.

About the USRBC

The U.S.-Russia Business Council (USRBC) is a Washington-based trade
association that provides significant business development, dispute
resolution, government relations, and market intelligence services to
its American and Russian member companies. The USRBC provides senior
management of American companies a forum to continually monitor their
Russian market strategies as conditions change.