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June 24, 2010

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

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 fronts.

“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.