BOD Chairman of Magnitogorsk Iron & Steel Works (MMK) Viktor Rashnikov took part in a business meeting organized for the Russian and U.S. business executives.

The Russian-American business summit was made possible due to the U.S. President Barack Obama’s visiting Moscow early in July. The meeting was attended by heads of Russia and the United States’ leading companies, who spoke about the ways of raising their goods turnover and mutual investments as well as the issue of Russia’s entering the WTO and cooperation in the field of technological development and energy saving.

‘All these issues are quite important for Russia’s major metallurgical enterprise. Over the last decade, MMK has implemented a large-scale technical upgrade program, which enabled us to compete globally. The company’s produce is delivered to dozens of different countries, including the U.S. Last year, for example, 3% of our export sales were actually targeted for North America. The enterprise’s management has also considered investing some rather impressive sums on the American market,’ MMK’s PR Department says.

Viktor Rashnikov believes the improving Russian-U.S. relations and the more productive entrepreneurial climate will create more development opportunities for both countries’ business communities.