From the President

As democratic reforms in the Newly Independent States (NIS) of the former Soviet Union progress, these countries are emerging at the forefront of international business. We envision 1997 as our most active year; numerous conferences have already taken place and many others are planned for the near future. To facilitate business networking and information exchanges, the American-Russian Chamber of Commerce & Industry (ARCCI) and the American-Eurasian Chamber of Commerce (AECC) organized or supported several pivotal events during the winter of 1996/1997.

In November, the ARCCI/AECC organized the conference "An Update on the Political and Economic Climate in Russia: Trade, Investment, and Finance Outlook for 1997," featuring a presentation by Yuri V. Akhremenko, Minister Commercial and Trade Representative of the Russian Federation to the U.S.A. ARCCI directors were invited to Russia to address the Annual Conference of the Citizens Democracy Corps in St. Petersburg, where they discussed foreign investment in the Russian regions. In early December, we hosted a delegation of Moscow City government officials and businessmen in Chicago and arranged a series of private meetings with our member companies. Shortly afterward, the ARCCI/AECC co-sponsored "Gateway to Russia/CIS Trade & Investment Forum 1996" in Miami, Florida.

The U.S.-Russian Investment Symposium held at Harvard University in early January highlighted the month's events. The Harvard University John F. Kennedy School of Government, the Conference Board, and the U.S.-Russia Business Council organized this event with the support of the ARCCI and several other organizations which promote U.S.-Russian trade. Immediately following the Harvard Symposium, the ARCCI co-organized the visit of St. Petersburg Governor Vladimir A. Yakovlev and a delegation of over 70 St. Petersburg business leaders to New York. Rounding out the month, I was honored to co-chair the Center for Business Intelligence's conference "Transportation & Distribution in Russia/CIS" presented in Washington, D.C.

In February, the ARCCI participated in the organization of the visit of Russian Prime Minister Victor Chernomyrdin and Vice President Al Gore to Chicago for the Eighth Session of the Gore-Chernomyrdin Commission. The Commission's Business Roundtable and luncheon attracted key public and private sector decision-makers from both countries and further cemented U.S.-Russian business partnerships.

We are honored to announce that Case Corporation and Morgan Stanley have joined the ARCCI/AECC as sponsors. We are also delighted to welcome A.T. Kearney, Benson & Company, the Chicago Mercantile Exchange, the Defense Enterprise Fund, Imperial Publishing Company, Inc., ITS Travel, Grant Thornton, Nordson Corporation, the State Federal Company - Marketing Centre and VIP International, Inc. as new members. Welcome aboard!

Last but not least, the New Year marked the launching of our Web site located at http://www.uic.edu/orgs/arcci. We have linked our members' and sponsors' homepages to ours and will continue to promote them among U.S. and N.I.S. businesses.

We extend our sincere gratitude to all members, sponsors and friends of the ARCCI/AECC who assisted with our special events, conferences, and delegation visits over the past few months. Special thanks go to the City of St. Petersburg, the Embassy and Trade Representation of the Russian Federation, the American-Russian Trade & Investment Center, Amoco Corporation, A.T. Kearney, Golub-Europe, Imnex International, Inc., Lufthansa, McDermott, Will & Emery, Morgan Stanley, and the U.S. Department of Commerce International Trade Administration.

Thank you for your continued support of the ARCCI and AECC. We look forward to an exciting, productive 1997!

Sincerely,

Helen Teplitskaia, President