The political and economic future of the NIS was the topic of discussion as participants from around the Midwest gathered in Cleveland at the Ritz-Carlton Hotel on June 27, 1996, to discuss trade and investment opportunities. The conference, organized by the American-Russian Chamber of Commerce & Industry (ARCCI), the Cleveland World Trade Association and the U.S. Export Assistance Center—Cleveland, featured distinguished political and business figures from Russia and Kazakhstan.
Keynote speaker Yuri V. Akhremenko, trade representative of the Russian Federation in the U.S., addressed the current political and economic climate in the NIS. Mr. Akhremenko highlighted Russia's desire to participate in the World Trade Organization and assured the audience that government standards have significantly changed to reflect this intention.
"We comply with all requirements of the International Monetary Fund as to the liberalization of foreign trade," Mr. Akhremenko said. "Almost all export licenses and quotas and export taxes have already been abolished. The remaining export taxes will be abolished on July 1."
Mr. Akhremenko also outlined the objectives of his department. "The Trade Representation of Russia in the U.S. is the agency of the Russian Federation that promotes bilateral trade and investment cooperation," he said. "Observance of state interests is our principal task. Still, one of our major activities is to provide assistance and consulting services to Russian and American private companies."
Robert D. Hisrich, Ph.D., of Case Western Reserve University, opened the first panel discussion of the day with an overview of trading and joint venturing in the NIS. The session continued with practical insights into developing successful operations, creating strong business relationships and risk management. Distinguished speakers included Jerry J. Torma of Nordson Corporation and the Cleveland World Trade Association; Philip M. Lynch of Northern Technologies International Corporation and Inter Alia Holding Company and Gavin G. Cushman of Diebold, Inc.
Professionals from the world of international business gathered to share first-hand experiences and advice on creating strategic alliances with the NIS. Financial and legal strategies were analyzed by Professor Ronald Coffey of Case Western Reserve University; Thomas M. Jones of McDermott, Will & Emery and the ARCCI and Leonard Kreimer, of the American-Russian/NIS Trade and Investment Center.
During this roundtable discussion, C. Anthony Boon Jr., of ABN-AMRO North America, Inc., updated the status of financing in the Russian Federation, including a current look at primary U.S. corporate investment in the NIS as well as commercial and political risks taken by these companies. Mr. Boon also provided recommendations for companies interested in investing in the NIS, including strategies for working with the foreign banking community.
Industry representatives discussed details imperative to successful business relationships in the NIS. An in-depth analysis of the most common reasons for conflict between international business partners was given by Nancy Fioritto Piazza of the International Resource Institute; Mike Nissim of McDermott, Will & Emery; Helen Teplitskaia of the ARCCI; Dr. Leonid Tell of the Kazakh Ministry of Health and Sam Kiderman of CLINITEC, Cleveland Clinic Foundation.
The day was capped with a feature presentation by Donald F. Hastings of the Lincoln Electric Company, who discussed his personal experiences doing business in the NIS and gave insights for pursuing and perpetuating strong international business and political relations. The conference was sponsored by McDermott, Will & Emery.