Press Release

U.S. Commerce Secretary to Visit Ukraine and Russia to Promote Economic Openness and Expansion of Bilateral Trade

Gutierrez Will Lead Members of the President’s Export Council to Ukraine and Russia

WASHINGTON—U.S. Commerce Secretary Carlos M. Gutierrez will travel to Kyiv, Ukraine and St. Petersburg, Russia, June 4-7 to meet with senior government officials and discuss bilateral trade and investment. Gutierrez will lead members of the President’s Export Council (PEC), an advisory body composed of American CEOs who advise the President on trade policy, in meetings with business and government leaders to discuss open economic, trade and investment policies.

“I look forward to traveling to Ukraine and Russia to discuss ways to boost trade and investment and promote economic growth in our countries,” Gutierrez said.

Kyiv, Ukraine
On June 4-5, Gutierrez will be the first U.S. Secretary of Commerce to visit Ukraine since its independence in 1991. Earlier this year, the United States and Ukraine concluded a Trade and Investment Cooperation Agreement, which establishes a framework for a deeper dialogue on trade and investment. Gutierrez is scheduled to meet with President Yushchenko and Prime Minister Tymoshenko, as well as other key Ukrainian economic officials. He will hold a roundtable discussion with U.S. business leaders and deliver a speech to the American Chamber of Commerce: “Ukraine’s WTO membership and growing economy present dynamic commercial opportunities that will lead to expanded commercial relations with global partners,” Gutierrez said. “I’m interested in learning more from Ukrainian leaders about their efforts to improve their investment climate by strengthening market reforms and enforcing the protection of intellectual property rights.”

St. Petersburg, Russia
Gutierrez will be the first U.S. Cabinet secretary to visit Russia with an economic agenda since President Dmitry Medvedev took office in May 2008. In St. Petersburg on June 6-7, Gutierrez will meet with officials from President Medvedev and Prime Minister Putin’s Cabinet to discuss U.S.-Russian bilateral trade and he will address the 12th St. Petersburg International Economic Forum June 7, which is a major international gathering of government officials and business leaders hosted by the Russian Government.

“Russia’s high GDP growth and economic modernization over the past decade has made it an increasingly important market for American products and services,” Gutierrez said. “Our governments must work closely to maintain a commitment to economic policies – such as Russia’s accession to the WTO—that integrate Russia into the global economy.”

Background
Bilateral trade between the United States and Ukraine exceeded $2.5 billion in 2007, with U.S. exports growing by more than 77 percent.U.S. exports to Russia, which topped $7.3 billion in 2007, grew 56 percent from the previous year. This rate is more than four times faster than overall U.S. exports, which rose 13 percent last year.