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Vladimir Padalko, Vice President of the Russian Chamber of Commerce and Industry, spoke about the desire to preserve and not lose the accumulated Russian-American ties in business despite high geopolitical turbulence. He made these remarks on March 2 at the meeting with the President of the American Chamber of Commerce in Russia (AmCham Russia) Robert Agee.

While a number of large Western investors have decided to leave Russia, one should not panic and think about the future, said the Vice President of the Chamber. Between the chambers of commerce, there is an understanding if all ties are destroyed overnight, it will be very difficult to restore them, and it is now necessary to maintain a dialogue even in the context of a major international crisis.

“The ideology of the Chamber is to listen to our partners, calmly conduct a dialogue and respond adequately. Perhaps our dialogue will remain the only stream in bilateral relations that will allow them to be maintained, and it should not be destroyed,” Vladimir Padalko said, noting that none of the countries has economic preconditions for breaking off relations. It is not without reason that last year was a record year in the entire history of Russian-American trade – $34.4 billion, while the volume of mutual deliveries increased in almost all commodity items.

According to the Vice President of the Chamber, it is important to maintain ties across the business community, and to not rush to break up. Decisions should be made that will help preserve investments and accumulated baggage, and to ensure that deals that have already been concluded are not affected by political pressure.

“We agree that investors should not make sudden moves. In conditions when the breakdown of agreements has begun, it is necessary to see existing deals through to the end,” said Vladimir Padalko.

The heads of the business associations agreed that it is necessary to preserve the foundation of business relations built over many years. “The first thing we must do is to carry out a kind of therapeutic action that will allow the sick person to recover over time,” said Mr. Padalko, referring to the maintenance of trade relations between the two countries. Perhaps we should consider how to conduct such dialogue: to organize seminars and business meetings, and to conduct a sectoral review of the situation, he suggested.

AmCham President Robert Agee said that his years in Russia taught him not to panic in the event of major crises, which have happened repeatedly, and to always keep the long-term perspectives in mind. He emphasized that in the past, when the situation was unfavorable, he persuaded his colleagues against closing offices in Moscow and, as a rule, turned out to be right over time.

Robert Agee noted that he has been living in Moscow for 30 years and is not planning to leave. He said that AmCham continues its activities by organizing various meetings, briefings, webinars, etc. “Rejection of investments is not an option, because investments and trade are the way to peace,” Robert Agee noted.

Both chambers agreed to continue close collaboration, to organize joint events, including for the Russian regions where enterprises owned by American business operate. The goal is to calm the business community, to give them recommendations on how to do business in the current circumstances. In addition, the chambers will cooperate in informing their governments that businesses are interested in continuing normal operation, preserving investments and jobs.

The American Chamber of Commerce in Russia is the leading international business association in Russia. It was founded in 1994 and represents the interests of the largest American corporations, Russian companies, as well as companies from Europe and Asia. All these years, constant working contacts have been maintained between the Chamber of Commerce and Industry of the Russian Federation and AmCham.

Presently, AmCham maintains normal operations: it holds business events, prepares analytical materials, consults its members on matters of current interest, and continues to advocate for the interests of business and economic cooperation.