American-Russian Business Council Marks its 10th Anniversary

Today, the American-Russian Business Council (ARBC) commemorates its 10th anniversary. This non-commercial organization within American business circles was founded in California in January 1993, soon after the American-Russian Council on Trade and Economy had ceased to exist. Its major goal is to expand and strengthen business relations between the USA and Russia, assist the development of business contacts between the businessmen and provide them with information about the specifics of commercial activities and legislation in both countries.

The ARBC comprises 260 American companies and financial groups, which provide 80 percent of all American investment in Russian economy. The ARBC headquarters is located in Washington, and its Moscow office was opened in 1997.

With the coming of the Bush administration, the ARBC has been working actively on involving high-ranking officials in the dialogue on American-Russian relations.

During the latest yearly meeting of the Council, which was held in October last year in Washington, the members discussed the perspectives of bilateral cooperation in the sphere of energy, the present condition of financial services market, Russia's accession to the WTO, the development of small business and resolution of disputes in the commercial sphere. US State Secretary Colin Powell, who participated in the meeting, expressed the hope that "the relations between Russia and the United States in the sphere of commerce would be strong and stable, and that dynamically developing Russia would play one of the leading roles in the global economy."