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Presentation of the Republic of Karelia was held on June 29 at the Consulate General of the Russian Federation in New York at the support of the Trade Mission of the Russian Federation in the United States of America.
The delegation was led by the Head of the Republic of Karelia Sergey Katanandov and included heads of the biggest Karelian timber and woodworking companies such as JSC Karellesprom, ZAO Zapkarelles, ZAO Nord Inter House, ZAO Shuyales, the director general of Open Society VEK Building company etc. The assistant to the Trade Mission Representative of the Russian Federation in the USA and the head of the branch of the Trade Mission of the Russian Federation in New York Mr.D.Borisov, representatives of more than 50 American companies among which there were such famous companies as HOFFMAN INTERNATIONAL Inc., WELLONS, Bank of NY, etc. took part in the presentation of Karelia.
The Government of the Republic of Karelia considers attraction of foreign investments with the purpose of updating and expansion of production facilities and use of modern technologies a priority sphere.
Today investments of American companies in Karelia make approximately 5% of the total amount of foreign capital investments. In the report of the assistant to the Prime Minister of the Government of Yu.Ponomarev Investment Appeal of the Republic of Karelia it was pointed out that more than 100 investment projects with terms of realization till 2010 and which total costs exceeds $1,5 billion have been authorized in Karelia. Thus, the total amount of capital investments in 2003 has made $313 million. Among the most attractive branches for capital investments he has named power engineering, forestry and cellulose industry, tourism, ferrous metallurgy, building and finishing stone manufacture, and also trout farming.
During presentation the press conference has been held. The Head of the Republic of Karelia and members of delegation answered the journalists' questions.
On June, 30 the delegation of business circles of Karelia was hosted by the Assistant to the Trade Mission Representative of the Russian Federation in the USA Mr.D.Borisov. At the meeting aspects of opportunities of the Russian-American cooperation including cooperation with the Republic of Karelia were discussed.
Individual meetings of representatives of business circles of Karelia and the USA were held on June, 30 - July, 2. A number of arrangements on mutual cooperation was achieved. For example, in August the visit of representatives of the American company Allan Tomas for negotiations on cooperation in the sphere of woodworking is planned. During negotiation with the company Russian American Forest Products, Ltd opportunities of cooperation on deliveries of saw-timbers to the American market were discussed. On the part of the company concrete offers on deliveries of surfaced timber have arrived, and transportation expenses will be covered by the company. Karelian businessmen have offered the company to consider opportunities of purchasing other timber products, namely surfaced birch veneer sheet and birch saw-timbers and wooden houses made of the calibrated logs.
Some members of the delegation from Karelia have visited Oregon where they have participated in meetings with a management of WELLONS company and discussed preparation of documents for negotiation under the project in Pudozh. Full unanimity on sequence of performance of tasks has been achieved. The intermediate meeting of WELLONS company and JSC Karellesprom is planned for August 2004 in Petrozavodsk.
During the visit of the delegation of business circles it was noted that all authorities of the Republic of Karelia will promote establishing long-term cooperation between the Karelian and American businessmen intending fruitful teamwork on the basis of mutually advantageous partnership that in our opinion will be promoted by this visit.
Olga Bykova
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