SBA AND RUSSIAN SMALL BUSINESS GROUP IN TRADE PROMOTION

A MEMORANDUM OF UNDERSTANDING SIGNED LAST MONTH BETWEEN THE U.S. SMALL BUSINESS ADMINISTRATION (SBA) AND THE RUSSIAN FEDERATION’S STATE COMMITTEE FOR THE SUPPORT AND DEVELOPMENT OF SMALL BUSINESS (SCSME) WILL FOSTER TRADE OPPORTUNITIES FOR U.S. COMPANIES WHILE PROVIDING DEVELOPMENT ASSISTANCE TO RUSSIAN SMALL BUSINESSES.

“THIS AGREEMENT IS AN HISTORIC STEP TOWARD OPENING UP A HUGE MARKET TO BUSINESS,” SAID BILLY MAX PAUL, REGIONAL ADMINISTRATOR FOR THE SBA, IN AN INTERVIEW WITH GLOBALFAX ON AUG. 16.  “HERE IN GEORGIA, TO FIND OUT MORE ABOUT DOING BUSINESS WITH RUSSIA, CONTACT THE UNITED STATES EXPORT ASSISTANCE CENTER,” HE ADDED.

THE CENTER COORDINATES PROGRAMS OF THE SBA, EXPORT-IMPORT BANK AND THE STATE OF GEORGIA TO HELP SMALL BUSINESSES IN RESEARCHING AND DEVELOPING EXPORT MARKETS.

THE DETAILS OF THE AGREEMENT, WHICH WAS SIGNED BY SBA ADMINISTRATOR PHILIP LADER AND SCSME CHAIRMAN VIATCHESLAV PROKHOROV ARE STILL BEING WORKED OUT, BUT THE SIGNING DOES ESTABLISH THE UNITED STATES-RUSSIA SMALL BUSINESS WORKING GROUP, WHICH WILL REPRESENT BOTH PUBLIC AND PRIVATE SECTORS.

PROPOSED PROGRAMS OF THE GROUP INCLUDE SUPPORT ORGANIZATIONS, RESOURCE PARTNERS AND ASSOCIATIONS, THE DEVELOPMENT OF PROPOSALS TO CREATE ECONOMIC PROGRAMS TO STIMULATE SMALL BUSINESS IN RUSSIA, THE DEVELOPMENT AND JOINT IMPLEMENTATION OF BILATERAL INTERGOVERNMENTAL RECOMMENDATIONS AND PROGRAMS AND THE DEVELOPMENT OF FINANCIAL AND INVESTMENT ASSISTANCE PROGRAMS TO SERVE SMALL BUSINESS.

FOR MORE INFORMATION CALL WENDY GOLDBERG OF THE SBA AT (202) 205-6740.

BY  BRIANA  PEHLMAN