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Commerce Secretary Gary Locke and Russian Minister of Economic Development Nabiullina Meet, Sign MOU on Management Training

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Thursday, November 11, 2010

Secretary of Commerce Gary Locke and Russia’s Minister of Economic Development Elvira Nabiullina met today at the onset of the Asia Pacific Economic Cooperation (APEC) Ministerial. 

The two leaders reviewed progress in the U.S.-Russia Business Development and Economic Relations Working Group and signed a Memorandum of Understanding (MOU) outlining plans to cooperate on a management training exchange program that will enable private sector managers and specialists from each country to gain practical experience working in the other country’s market. 

“For our nations to develop stronger commercial relations, it is important for our next generation of business managers to gain greater familiarity and experience working with one another,” Locke said.

“This MOU recognizes that it is in our mutual interests, given the potential for future growth in trade and investment, to have young Russian and American managers gain experience by spending time early in their careers working within each other’s companies.”

This latest meeting sets the stage for Secretary Locke’s planned visit to Russia in early 2011 for a full meeting of the Business Development and Economic Relations Working Group under the U.S.-Russia Bilateral Presidential Commission.