Greater Tulsa Reporter Newspapers, OK
Feb 23 2005

New Magazine Helps Russian-American Business Ties
By TATYANA NYBORG
Contributing Writer

The second issue of the new magazine, Russian-American Business, was
recently published in Norman. It is a unique magazine with a goal to
improve the business relationship between the United States and the
Commonwealth of Independent States (CIS), an independent union of the
former Soviet republics. The magazine is distributed in the United
States, Russia, the Ukraine, Byelorussia, Kazakhstan and Kyrgyzstan.
The owners of the magazine, Olga and Valery Tarasova, have also
published the Russian-language newspaper, The Russian American, for
several years.

American businesses have a great opportunity to sell their products
to the CIS. Many advanced or simply good quality American products
are still not well known there, but could be sold successfully. For
example, `cowboy’ style leather jackets, boots and jeans, some brands
of cosmetics, fashionable jewelry, updated equipment for
manufacturing and even cake mixes are examples. The list can include
hundreds of such products.

`More mid-level and small businesses in the United States have begun
to develop interests of working with Russia,’ Olga says. `About 80
percent of the participants of a recent oil and gas trade show in
Oklahoma City told us that they were interested in partnerships with
CIS companies. The most important change affecting commercial
relationships between Russia and the United States is, of course, the
development of truly free markets in the former Soviet countries.’

Another great opportunity for American business owners is to buy
unique and original goods from CIS countries such as interior decor,
furniture, jewelry and souvenirs. Production and shipping of everyday
use items such as gloves, bed sets, towels, etc. can also be cheaper
than the same products from China or India because of the low cost of
labor in the CIS. Olga says, `The Russian American Newspaper was
frequently contacted by companies from Russia, who asked for help in
finding business partners in the United States. The companies that
contacted us were among the leaders in their respective fields in
Russia, the best Russian watch factory and a renowned jewelry
producer, to name a few. We realized that there existed a market
niche and began to publish the Russian-American Business magazine.’

Olga continues, `Now, there is a great interest for developing
business with the United States in the CIS countries. We know that
from our talks with the leaders of Russia’s State Congress and the
Federation Council, with regional governors, whom we interview for
the magazine. We know that also – and perhaps most importantly – from our
discussions with business owners and entrepreneurs who come to the
United States in search of commercial opportunities.’

Through the Russian-American Business magazine, different companies
found business partners. Olga adds, `not long ago, we received a
letter from the head of a large science research institute in
Armenia, Dr. Evrik Afrikian: After a publication in the
Russian-American Business, we received several offers from American
companies to start joint ventures. The Russian-American Business
helped find a distributor for the Russian clock factory, Chaika. The
same can be said about the unique Russian jewelry producer Severnaya
Chern.’

When asked what advantages Russia has over China and India, Olga
says, `According to the views of the experts, the trends of today’s
world economy are such that there are four
very-interesting-for-investment markets; India, China, Brazil, and
Russia. Russia is by no means at the end of the interest scale, I
must add. Last week I met with the owner of a large company in
Oklahoma City who told me that, of late, there has developed an
increased interest in investing into Russian energy companies. `My
clients, who have an extra $250,000 to $2 million, are at ease in
investing the money in Russian companies,’ he told me. The
reason – very high annual profits. One must also not forget Russia’s
cultural richness. People that start to do business with Russia
frequently fall in love with that country.’

The United States is the leading foreign investor in Russia’s
economy. Official data from 2003 give the total investment figure as
2.4 billon dollars. United States companies also invested
considerable amounts in the economies of Uzbekistan, Ukraine,
Kazakhstan, Georgia, Azerbaijan, Armenia and Byelorussia.

Some of the businessmen in the United States are troubled by the
political situation in Russia. They think that the sale of the Yukos
energy company, in addition to some other factors, show the lack of
stability in Russia. The response by Nikolay Sofinskiy, Consul
General of the Russian Federation in Houston, is `I can tell that the
economic and political climate in Russia today is unquestionably
better than it was 15 years ago. There are problems, but problems
exist everywhere. Sure, there is some risk, maybe a greater risk than
in other places, but there are also unique opportunities that do not
exist anywhere else in the world. `He, who does not run a few risks,
does not win.’

For more information call Olga Tarasova at 405-579-3411 or
405-701-3801.