Russia, USA Step Up Economic Dialogue: Putin

The Russian-US economic dialogue is getting more practical and dynamic, said President Vladimir Putin as he and US President George W. Bush were addressing a White House news conference to sum up an initial day of bilateral negotiations. The implementation of several ambitious projects is gaining momentum--in particular, the Sakhalin 1 and the Caspian mainline consortium. Partnership is getting closer in aerospace, mining, chemical, automotive and some other industries. Direct contacts between private entrepreneurs are stepped up. President Putin pointed out progress toward Russia joining the World Trade Organisation. When the USA recognised Russia as a market-economy country, Moscow felt a growing realisation of the necessity to make the Jackson-Vanick amendment invalid for Russia. The President does not think Russian-US economic partnership has fully implemented its potential. Much else has to be done here as in many other fields, he remarked--and expressed his hope for dynamic and fruitful teamwork.