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Published by the Bureau of Public Affairs, July 8, 1996
Released on the Web July 12, 1996
The U.S.-Russian Joint Commission on Economic and Technological Cooperation is co-chaired by U.S. Vice President Al Gore and Russian Prime Minister Viktor Chernomyrdin. The Commission provides a framework for promoting partnership between the United States and Russia based on the principles enumerated in the Vancouver and Moscow Summit declarations. These include a shared commitment to democracy and human rights, support for market economies and the rule of law, and international peace and stability. The Commission works to achieve concrete benefits from this partnership through encouraging mutually advantageous cooperation in a variety of commercial and technical fields.
President Clinton and President Yeltsin created the Commission at the Vancouver Summit in April 1993. The Commission's original mandate was to enhance cooperation in the areas of space and energy, which were chosen because of their particularly encouraging prospects for mutual benefit. Almost immediately, the Commission incorporated the previously existing U.S.-Russia Business Development Committee, which is dedicated to expanding trade, investment, and commercial cooperation. The Commission's early successes led to mutual agreement to expand its scope, which now includes defense conversion, health, science, the environment, and agribusiness. The Commission currently has eight committees chaired at the cabinet level and several working groups looking at specific issues. Discussions are underway about adding further items to the Commission's agenda, including enhanced cooperation in financial services and securities.
The Commission meets approximately twice a year, alternating between Washington and Moscow. The committees maintain regular contact between the Commission meetings. Indeed, one of the most important benefits of the Commission has been the establishment of extensive contacts between Russian and American policy makers and specialists dealing with a broad array of issues, ranging from tax policy to public health to developing global environmental data.
The Commission's next meeting is tentatively scheduled for the summer of 1996 in Moscow.
Co-Chairmen:
Vice President Al Gore
Prime Minister Viktor Chernomyrdin
Space:
NASA Administrator Daniel Goldin
General Director, Russian Space Agency, Yuri Koptev
Business Development:
Secretary of Commerce Michael Kantor
Deputy Prime Minister Oleg Davydov
Energy Policy:
Secretary of Energy Hazel R. O'Leary
Minister for Atomic Energy Viktor N. Mikhailov
Minister of Fuel and Power Yuriy K. Shafranik
Defense Conversion:
Secretary of Defense William J. Perry
First Deputy Minister of Defense Andrei Kokoshin
Chief of the Department of Defense Industries, Office of the Prime Minister, Valeriy A. Mikhailov
Science and Technology:
OSTP Director Jack Gibbons
Minister of Science Boris Saltykov
Environment:
EPA Administrator Carol Browner
Minister of Environmental Protection and Natural Resources Victor Danilov-Danilyan
Health:
Secretary of Health Donna Shalala
Minister of Health and Medical Industry Alexander Tsaregorodtsev
Agribusiness:
Secretary of Agriculture Dan Glickman
Deputy Prime Minister Aleksandr Zaveryukha
U.S. Secretariat:
Assistant to the Vice President for National Security Affairs Leon Fuerth
Special Assistant to the President, National Security Council, Coit (Chip) Blacker
U.S. Ambassador-at-Large for the New Independent States, U.S. Department of State, James F. Collins
Adviser to the President and the Secretary of State for Assistance to the NIS Richard L. Morningstar
Twenty-six agreements and seven joint statements were signed at the sixth and most recent Gore-Chernomyrdin Commission meeting, held January 29-30, 1996, in Washington, DC. The agreements covered a broad range of economic and technical areas, including cooperation for a 1996 joint space station and Shuttle/Mir program; aircraft market access; collaboration in addressing crimes against business; small business development; continued long-term cooperation on material protection control and accounting of nuclear materials; and cooperation on food safety and combating infectious diseases.
Space Cooperation. Representatives from the National Aeronautics and Space Administration (NASA) and the Russian Space Agency signed several agreements furthering cooperation between the United States and Russia in joint experimentation in space, including an agreement covering the Tissue Equivalent Proportional Counter. In addition, the United States and Russia continue to cooperate on scramjet flight tests and 32 flight tests of the TU-144 supersonic flying research laboratory.
Business and Investment Development. In efforts to bolster Russia's climate for foreign investment and trade, the Commission released the Business Development Committee's joint recommendations for improving Russia's commercial tax regime; established joint subcommittees to focus on improving Russia's climate for small business and on combating crimes against business; and proposed discussions aimed at facilitating trade by streamlining customs processing. In addition, Eximbank announced an accord supporting U.S. exports to Russia's forestry industry.
Energy. The United States and Russia signed a joint statement to create a consortium to develop environmentally safe and marketable fuel cell power sources. In the interest of safeguarding fissile materials, an agreement on guiding principles in the area of nuclear materials accountability was signed. The Energy Committee also selected four pilot cities to be used in studies of heat energy efficiency.
Defense Conversion. In the Commission, a finance protocol was signed for a new potential joint venture in Russia to provide computer systems and programming services. The committee is also planning three conference workshops in Russia and the United States to promote defense conversion business partnerships. A memorandum to increase cooperation and contact between the Overseas Private Investment Corporation (OPIC) and the Government of Russia on defense conversion matters was also adopted.
Science and Technology. The United States and Russia agreed to cooperate on the Alpha-Magnetic Spectrometer experiment for the detection of anti-matter and "dark matter" in space and to expand cooperation in seismology. An ongoing project in telecommunications aims to expand Internet access for Russian scientists and scholars. The committee welcomed a new $1 million contribution to the Civilian Research and Development Foundation.
Environment. The Commission reviewed progress in the area of sustainable management and conservation of natural resources, with a particular focus on Russian forests. A comparison of U.S. and Russian internal review processes for related joint ventures was recommended. The Vice President and Prime Minister praised greater U.S.-Russian leadership to implement the Framework Convention on Climate Change initiated under a new working group and called for closer cooperation to help Russia comply with the Montreal Protocol governing ozone-depleting substances. They welcomed the initiation of construction at the Murmansk radioactive waste treatment facility and voluntary compliance by Russia with the London Convention prohibition for ocean dumping of low-level radioactive wastes. An environmental health program for 1996 also was approved.
Highlighted in a co-signed joint statement about the special environmental initiative, an unprecedented exchange of environmental analysis on a military site in each country was completed during the Commission meeting. A joint oceanographic survey by the U.S. and Russian Navies also was agreed upon for the summer of 1996, and plans have been outlined for joint studies by American and Russian experts on natural environmental disasters.
Health. Accomplishments in the Health Committee included progress across the broad range of priority areas that were identified at prior meetings. A memorandum of understanding on food safety was signed by officials of both governments. A procedural annex to an existing agreement on pharmaceuticals was also approved, and a statement of intent to finalize an agreement on information exchange for medical devices was signed. These agreements will facilitate the registration in Russia of high-quality U.S. pharmaceuticals and improve food safety. A joint declaration on school-based health education was also signed.
Agribusiness. The January 1996 session represented the second meeting of this committee. Continuing its commitment to improve agricultural cooperation, the Agribusiness Committee is facilitating Russia's accession to the World Trade Organization through promotion of WTO conformity; helping develop infrastructure for Russian agricultural markets; and addressing sanitary, phytosanitary, and standards issues. The committee agreed to analyze problems surrounding privatization of the agricultural sector and promoted the development of U.S.-Russian agribusiness partnerships.
U.S. Vice President Al Gore and Russian Prime Minister Viktor Chernomyrdin concluded the sixth meeting of the U.S.-Russian Joint Commission on Economic and Technological Cooperation in Washington on January 30, 1996. The co-chairmen of the Commission announced the signing of 26 agreements completed during the Commission meetings. In addition, seven joint statements were issued.
Signed by the Vice President And Prime Minister:
-- Joint Statement on U.S.-Russian Special Environmental Initiative
-- Agreement Regarding International Trade in Commercial Space Launch Services
-- Russia-U.S. Activity Under the Shuttle/Mir Program in 1996
-- Joint Memorandum of Understanding (MOU) on Aircraft Market Access
Signed by Committee Chairs and Others:
-- Statement of Intent on Cooperation in Addressing Crimes Against Business
-- Statement of Intent on Cooperation in Small Business Development
-- Tissue Equivalent Proportional Counter (TEPC) MOU (U.S. Radiation Dosimetry Instrument for Flight on Russian Mars '96 Mission)
-- Statement of Intent on Material Protection, Control, and Accounting
(Joint Long-term MPCA Cooperation)
-- Memorandum between Russian Component of the Defense Conversion Committee and OPIC re Measures to Increase Cooperation and Contact between OPIC and the Government of Russia to Benefit Defense Conversion
-- Eximbank-Roslesprom Framework Agreement on Financing for Russia Forestry Industry
-- Memorandum on Technical Cooperation and Information Exchange in Food Safety
-- Statement on Revised Procedural Annex to the MOU on Pharmaceuticals
-- Statement of Intent on Medical Devices
-- Statement of Intent on Nuclear Safety (Establishment of Joint Nuclear Safety Centers)
-- Statement on Fuel Cells Cooperation (Agreement to Establish a U.S.-Russian Fuel Cells Consortium)
-- Joint Statement on Guiding Principles in the Area of Control, Accountability, and Physical Protection of Nuclear Materials
-- One Finance Protocol for Defense Conversion Project Involving the Defense Enterprise Fund and Russian Defense (Weapons of Mass Destruction) Enterprise
-- Joint Statement on Seismic Cooperation
-- Joint Report of the Agribusiness Committee
-- Reports by Agribusiness Working Groups (3)
-- Report by the Health Committee
-- Joint Statement on School Health Education
-- Transmittal Memorandum for the Final Report of the U.S.-Russia Commercial Tax Dialogue
-- Nuclear Materials Security: Transmittal Letter for Storage Facility Report
Issued Statements:
-- Joint Statement on Cooperation on the Alpha-Magnetic Spectrometer in Space
-- Statement on Civilian R&D Foundation
-- Joint Statement: Progress on Environmental Security in the Arctic
-- Joint Statement: Leaders Endorse Enhanced Cooperation on Climate Change
-- Joint Statement on Human Space Flight
-- Joint Statement on Aeronautics and Space Cooperation (Aeronautics, Earth Sciences, Space Sciences, Rocket Engine Technology, COSPAS-SARSAT)
-- Joint Statement on the Prevention and Control of Infectious Disease--Diphtheria
U.S. Vice President Al Gore and Russian Prime Minister Viktor Chernomyrdin announced the signing of 20 agreements and five joint statements during the fifth meeting of the Gore-Chernomyrdin Commission, held in Moscow, June 29-30, 1995. The Vice President and the Prime Minister signed joint statements on management and conservation of natural resources and on a special environmental initiative, as well as an agreement on airworthiness. In addition, a law enforcement agreement, which established a framework for cooperation on investigation, prosecution, and prevention of crime, was signed. The new Agribusiness Committee also met for the first time.
Space Cooperation. The Commission noted significant progress in the area of space cooperation, best demonstrated by the docking of the Mir Space Station and Space Shuttle Atlantis on June 29, 1995. The parties signed an implementing agreement for the flight of two U.S. instruments on the Russian Spectrum X-Gamma spacecraft.
Business and Investment Development. During the Commission meetings, announcements were made on completion of the Sakhalin-I energy development project, generous OPIC and U.S. Trade and Development Agency support for U.S. commercial activities in Russia, and the introduction of OPIC inconvertible insurance to Russia. The Business Development Committee reported progress in developing joint recommendations on commercial tax reform, including a joint memorandum on energy-sector taxation; highlighted an initiative promoting commercial ties between the U.S. West Coast and the Russian Far East; and announced creation of a Business Information Service for Trade with America, to be opened in Moscow.
Energy. Two agreements were signed in the committee showing marked progress in the area of nuclear accountability. The first covers the cooperation in the area of nuclear materials protection, control, and accounting. The second covers cooperation on safety issues related to fuel cycle facilities and research reactors. Statements were also signed on nuclear materials protection, transparency measures on purchases of highly enriched uranium, and plutonium production reactors. The committee also released the Joint Electric Power Alternatives Study, which analyzes options for the future development of Russia's electrical power sector.
Defense Conversion. A possible joint venture was announced during the Commission meeting to provide civilian software programming from a facility formerly involved in construction of intercontinental ballistic missile guidance systems. The committee organized a conference, "Pathways to Partnerships," in California to showcase Russian technologies.
Science and Technology. The committee announced the creation of the Civilian Research and Development Foundation, which will support collaborative projects between U.S. and Russian scientists and engineers. The United States and Russia also concluded an agreement to establish the Space Biomedical Center to assist in transferring space biomedical technologies to the civilian sector.
Environment. The joint statement on management and conservation of natural resources, signed by the two leaders, summarizes principles to govern both public and private activities and better coordinate related activities between the Environment, Energy, and Business Development Committees. Sustainable forestry practices and environmental liability will be documented by USAID and Russian counterparts. A policy working group on climate change was established to strengthen bilateral cooperation in this field.
The committee organized an interagency team to visit and assess Russian research and monitoring capabilities in the Arctic region, and funding was provided for a joint workshop on Arctic oil and gas operations. A memorandum of understanding drafted by the committee facilitates greater contacts on environmental problems between the U.S. and Russian defense communities. The Environmental Protection Agency (EPA) funded a study of the health effects of phasing out lead in Russian gasoline, particularly upon children; the Environment and Health Committees made plans to co-sponsor a related conference in Moscow in September 1995 .
Health. The June 1995 session represented the second meeting of this committee. The members worked together to draft "action plans" on the committee's eight priority areas: diabetes, health education and promotion, prevention and control of infectious diseases, primary care practice and physical education, tuberculosis treatment and control, maternal and child health, health reform and policy, and environmental health. The action plans emphasize the sharing of health-related data, joint research and training, and collaboration in the analysis of the Russian diphtheria control experience.
Agribusiness. The Commission inaugurated its eighth committee--on Agribusiness--during the fifth session. In its first meeting, the committee created three working groups to investigate areas of priority cooperation: reform and privatization in the agro-industrial complex, market access and trade issues, and agricultural machinery.
Fifteen agreements and six joint statements were signed at the fourth Gore-Chernomyrdin Commission meeting, held December 14-16, 1994, in Moscow. At this meeting, the Health Committee, announced in June 1994 to promote cooperation in the area of public health, met for the first time.
Space Cooperation. The Commission noted the significant progress made by NASA and the Russian Space Agency in planning for the ongoing flight of a U.S. astronaut on the Russian Mir Space Station in March 1995 and the first Space Shuttle/Mir Space Station Docking Mission in June 1995. The two nations signed a customs agreement to provide duty-free clearance of goods shipped to Russia to support government-to-government cooperation in space.
Business and Investment Development. The Commission announced a dialogue on Russian commercial taxes which hinder and deter trade and investment by the U.S. private sector in the Russian Federation. In addition, the two nations agreed to further bilateral commercial ties, especially between the West Coast of the U.S. and the Russian Far East, by opening a third U.S. Department of Commerce American Business Center in the Russian Far East at Yuzhno-Sakhalinsk. The Commission also promoted a Russian Presidential Business Mission to the United States in early 1995.
Energy. Concerned with the full range of nuclear issues as well as fossil energy and energy efficiency, the Energy Policy Committee agreed to fund studies on viable energy alternatives, such as fossil-fired power, to replace plutonium production reactors. For the first time, the two countries will exchange unclassified technical information to enhance safety and security in the dismantlement of nuclear warheads in both countries.
Defense Conversion. OPIC will commit up to $500 million in insurance and financial assistance to support defense conversion projects in Russia and other countries of the New Independent States (NIS) undertaken by U.S. companies with local partners. In addition, the U.S. Department of Commerce's Bureau of Special American Business Internship Training Program (SABIT) and Commerce's Bureau of Export Administration will develop and implement a specialized training program for up to 50 defense enterprise experts from Russia. Vice President Gore announced the award of four contracts totaling $16.6 million to U.S. firms that have established cost-sharing joint ventures with Russian companies. The awards will assist four Russian defense enterprises that are converting to manufacturing products with commercial applications.
Science and Technology. Vice President Gore and Prime Minister Chernomyrdin witnessed the signing by two U.S. and Russian agencies of a statement of intent to establish a Space Biomedical Center for Training and Research at Moscow State University. The center will promote U.S.-Russian cooperative medical exchanges in aerospace medicine, space biology and microgravity science, internal medicine, telemedicine, biotechnology, and public health issues. Russia and the U.S. also signed an agreement to jointly monitor global climate change through changes in ocean temperature and announced further cooperation in information technology.
Environment. Russia and the U.S. signed a landmark agreement on co-operation in the prevention of pollution of the environment in the Arctic. The agreement calls for the two countries to cooperate in assessing levels of hazardous contaminants and authorizes consultation on technical measures to eliminate them. A joint statement to support legislative action to allow both countries to ratify the convention on biodiversity also was signed.
Health. Priorities for future cooperation were agreed upon at the meeting: diabetes, health education and promotion, prevention and control of infectious diseases, primary care practice, tuberculosis treatment and control, maternal and child health, health reform and policy, and environmental health.
Technical cooperation in women's reproductive health includes a public information campaign in Russia on the health benefits of modern contraceptive methods and assistance in developing model family planning centers. In addition, a new program supports development of partnerships between U.S. and Russian pharmaceutical firms to alleviate shortages in Russia of urgently needed pharmaceuticals. Also, hospital equipment and supplies from a decommissioned U.S. military hospital, valued at $6 million, will be donated to Hospital No. 2 in Vladivostok.
The Gore-Chernomyrdin Commission met for the third time in Washington, DC, June 22-23, 1994, and registered further progress in all areas of the Commission's work. In particular, the session emphasized the implementation of U.S.-Russian cooperative ventures and programs. In addition, Vice President Gore and Prime Minister Chernomyrdin agreed to establish a seventh committee to deal with health issues.
Space Cooperation. NASA and the Russian Space Agency signed an interim agreement covering initial Russian participation in the international space station program, as well as a $400-million contract to provide Russian space hardware, services, and data in support of the "Shuttle/Mir" project--a joint flight program leading to the development of the international space station. Key elements of the contract include support of U.S. astronauts on board the Mir Space Station for approximately two years, the possibility of 10 shuttle docking missions with Mir, provision of hardware, joint technology development, and support for science and technology research to be conducted on board Mir.
Business and Investment Development. A consortium of U.S. and other Western oil companies signed an agreement with the Russians which launched the largest single U.S. investment in Russia--a joint contract to develop the oil fields of Sakhalin Island. The project, worth about $10 billion, is the first major development of a Russian energy field involving foreign direct investment. Two OPIC funds--expected to leverage more than $4 billion of private-sector investment in Russia and the other New Independent States and known as the Major Projects Fund and the Russia Partners Fund--were signed at this session of the Commission. The initial OPIC fund was signed at the Commission's inaugural meeting and was expected to leverage $1 billion. The fund has already exceeded its target capitalization and is investing in the NIS economies.
Energy. The Vice President and the Prime Minister signed an agreement obligating the U.S. and the Russian Federation to end the operation of plutonium production reactors by the year 2000. The agreement also prohibits the restarting of any reactors already closed and bars both countries from using in nuclear weapons any plutonium produced by the production reactors after the agreement enters into force. A committee also is developing a joint study on alternative energy sources and is establishing an Oil and Gas Technology Center in Russia.
Defense Conversion. The U.S. announced the first awards made under a March 1994 Nunn-Lugar defense conversion agreement which provides up to $20 million in assistance to U.S. firms to establish joint ventures with Russian defense firms converting to civilian production. It also announced the incorporation of the Defense Enterprise Fund with a grant of $7.7 million to assist in the conversion of defense industries in Russia and the other NIS states. The sides agreed to expedite the construction of a long-term storage facility at Mayak for the safe, secure storage of fissile materials from dismantled nuclear weapons for which $90 million has been set aside under the Nunn-Lugar program.
Science and Technology. The two countries signed a statement of principles on data exchange and five new memoranda of understanding, dealing with:
-- Transportation--to develop and modernize Russian air traffic control systems and other aspects of civil aviation, highways, public transit, railroads, and maritime transportation;
-- Health--to enable joint efforts in cancer research, molecular biology, genetics, immunology and AIDS, neurobiology, clinical research, and
scientific information exchange;
-- Geosciences--to foster research in global climate change, water resources, petroleum geology, seismic and volcano hazards, and storage and disposal of toxic or radioactive wastes;
-- Basic science and engineering--to promote cooperative research between U.S. and Russian scientists and allow joint activities in materials research, lasers, optics, and ecology;
-- Offshore energy development--to clarify the technical regulations for the exploration and development of offshore oil, gas, and mineral resources.
Environment. A new agreement on the environment provides for broader cooperation on global issues, such as biodiversity, environmental management, and public participation in environmental decision-making. It also calls for joint formulation of policy on environmental problems of bilateral, regional, and global significance, in-creased data sharing, and more vigorous efforts to protect intellectual property rights. Other cooperative efforts include a U.S. Agency for International Development (USAID) grant of $1 million to support the operations of two world-class Russian research facilities--the Komarov and Vavilov Institutes in St. Petersburg--whose collections and capabilities are critical to biological diversity, and an EPA grant of $50,000 to help Russia phase out the use of substances that deplete the stratospheric ozone layer.
The Gore-Chernomyrdin Commission held its second meeting December 15-16, 1993, in Moscow. Major accomplishments were achieved in five broad areas.
Space Cooperation. One of the highlights of the meeting was a joint statement issued on space station cooperation. It covers activities involving the U.S. Space Shuttle and the Russian Mir Space Station, Russian participation in the International Space Station, and contractual arrangements to facilitate these programs.
The two sides signed a protocol calling for additional manned flights to the Russian Mir Space Station and extended time for U.S. astronauts there. They also signed a joint statement on aeronautics and space cooperation, noting potential cooperation in the areas of earth sciences and environmental monitoring and space science. The joint statement was accompanied by a memorandum of understanding describing eight areas of cooperation in fundamental aeronautical sciences.
Trade and Business Development. In this area, Vice President Gore and Prime Minister Chernomyrdin exchanged instruments of ratification for a double taxation treaty, effective January 1, 1994. OPIC agreements totaling $135 million were signed, providing the financial muscle to stimulate significant U.S. private investment in the Russian economy. The two sides released a joint communique on conformity of product standards to facilitate trade in both directions. They also signed an interim memorandum for establishing American business centers in Russia and issued a joint statement on the future tasks of the Business Development Committee aimed at identifying opportunities, resolving problems, and expanding contracts leading to new trade and investment projects. Finally, they announced a joint energy project to create a model Russian retail gasoline corporation to determine the commercial and legal conditions needed to establish a privately owned and financed corporation.
Energy, Nuclear Safety, and Environment. The Vice President and the Prime Minister signed a milestone statement of principles for nuclear safety cooperation, with both governments committed to support and expand bilateral and multilateral efforts to promote nuclear safety. The two sides also signed a nuclear liability agreement providing a legal framework for U.S. corporations involved in improving the safety of Russian nuclear reactors. An agreement for the Commodity Import Program provides $90 million in grants for importing U.S. technology and equipment to improve Russian energy production and efficiency, reduce environmental pollution, and improve performance. They also announced the formation of an oil and gas technology center in the city of Tyumen, a key Russian energy production site, to improve the recovery of oil and gas and reduce production costs. Finally, they signed a joint statement on environmental cooperation involving 15 technical assistance projects to begin immediately and another on alternative energy studies.
Defense Conversion. The Vice President and the Prime Minister signed a memorandum spelling out the principles guiding U.S. and Russian cooperation in the conversion and diversification of defense industries. The two sides followed this with a protocol to the existing Nunn-Lugar defense conversion implementation agreement that provides up to $20 million for direct conversion assistance for the transition to civilian production of modular housing.
Science and Technology. Vice President Gore and Prime Minister Chernomyrdin signed a historic agreement providing, for the first time, a framework for cooperation in all fields of science and technology for a 10-year period. A major achievement of the agreement is a new bilateral framework to protect intellectual property resulting from cooperative research and development programs. The two sides also signed a related memorandum of understanding on cooperation in the fields of mining research and minerals information for a five-year period.
Vice President Gore and Prime Minister Chernomyrdin initiated their cooperative venture on September 1-2, 1993, in Washington, DC. The Gore-Chernomyrdin Commission's broad agenda included economic and foreign policy issues, as well as the evolution of a commercial partnership for the future. They also accomplished a great deal in the fields of space and energy. Agreements signed during this round of successful meetings represented the leading edge of U.S.-Russian cooperation aimed at achieving broad market access for Russian high-technology goods and efficient and low-cost cooperation on long-term, complex projects. They also agreed to establish additional committees to focus specifically on environmental, scientific, and energy policy, as well as defense diversification issues.
Space Cooperation. The two sides signed three joint statements on:
-- Space cooperation--outlining a phased approach for cooperation on human space flight and development of a unified space station;
-- Cooperative environmental space monitoring--involving a joint study to determine the feasibility of such programs; and
-- Aeronautical sciences.
These agreements set a broad strategy for cooperation on global environmental change and in the design of future aircraft. They also signed a commercial launch agreement, giving Russia access to the international launch services market, and a memorandum of understanding on the Missile Technology Control Regime (MTCR), committing Russia to the MTCR guidelines on the sale of high-technology goods and services.
Energy and Investment Cooperation. The agreements signed in this area represent the joint intention of the parties to strengthen economic cooperation and to increase trade and investment significantly, especially in energy-related projects. OPIC announced two major projects for Russia to establish the first U.S.-Russian Investment Fund to support privatization and to assist in oil well restoration in western Siberia.
The two sides agreed that each government would name an ombudsman to work together to overcome obstacles to specific trade and investment projects. They also signed a memorandum to facilitate cooperation in fossil energy development and a memorandum of understanding that will lead to an expansion of exports to Russia currently financed by Eximbank. Finally, they agreed to launch a joint study on nuclear reactor safety issues to determine the most potentially productive joint work in the area of nuclear safety.
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