Secretary Evans Calls Russia a 'Nation on the Rise'
Urges U.S. Firms to Take Advantage of Opportunities, Increase Trade

St. Petersburg, Russia - U.S. Secretary of Commerce Don Evans today urged U.S. businesses to heed President Vladimir Putin's and President George W. Bush's call for greater U.S. investment in Russia and for increased trade between the two countries. Evans cited President Putin's leadership, the ingenuity and productivity of the Russian workforce and the abundance of natural resources as reasons why Russia is an attractive trading partner for American companies.

"President Putin has sent a clear signal to U.S. businesses that Russia is open to U.S. investment and trade," Evans said. While pointing out that some of the biggest American names in business have answered the call, Evans stressed that others should "take advantage of the tremendous opportunities for growth that can be realized in both of our countries" as a result of greater U.S. participation in the Russian market.

Evans made his comments during a visit to a Ford Motors Plant in Vsevolozhsk, which is located outside of St. Petersburg. Ford, which will formally open the plant later this year, invested nearly $150 million in the assembly plant and will produce 5,000-8,000 cars annually at the facility. Cumulative direct American investment in Russia totals about $4.08 billion, a figure that Evans says falls well short of the opportunities existing in the country for U.S. investment. Evans pointed out that the United States ranks just above Cyprus in direct investments in the Russian economy.

"This plant symbolizes the new bonds of commerce that Russians and Americans are forging together," Evans said. "The workers of this facility are seeing for themselves that stronger economic ties can create greater peace and more prosperity for both of our people."

Evans' visit to the Vsevolozhsk plant comes during a three-city trip to Russia, his third as Secretary of Commerce, and on the eve of President Bush's visit to Moscow and St. Petersburg later this week. Evans will also travel to Samara and Moscow, where he will meet with senior Russian officials and U.S. and Russian business leaders to discuss ways the United States can further develop its economic relationship with Russia.