Statement by Press Secretary Fitzwater on the Presidential Mission to the Soviet Union

The President today announced a Presidential mission to the Soviet Union to demonstrate his commitment to expanding U.S.-Soviet trade and economic cooperation. Secretary of State James A. Baker III and Secretary of Commerce Robert A. Mosbacher will lead a group of 15 U.S. business executives to Moscow and Leningrad September 10 - 14 for meetings with senior Soviet officials. The mission is part of the administration's continuing efforts to expand trade and investment and strengthen U.S.-Soviet economic relations. The mission's efforts will focus particularly on energy, housing, transportation, food processing and distribution. The mission members will report their findings to the President on their return.

Mission participants will meet with the President in Helsinki on September 9 after the conclusion of his meeting with President Gorbachev. In the U.S.S.R., mission members will meet with a wide variety of Soviet officials, including President Gorbachev; Prime Minister Ryzhkov; Russian Republic President Yeltsin and other republic leaders; the mayor of Moscow, Gavril Popov; and the mayor of Leningrad, Anatoly Sobchak. The mission will provide an opportunity for the business executives to exchange views freely with the Soviets on how trade and investment can work to further Soviet economic reforms. The business executives will also discuss a number of projects with their appropriate counterparts in the Soviet industrial ministries to explore possible trade and investment opportunities.

Following up on proposals made by President Bush at Malta, Secretaries Baker and Mosbacher will announce several new and expanded economic cooperation programs. These programs are designed to help the Soviets make the transition to a market economy.

The private-sector members of the delegation are:

Dwayne O. Andreas, chairman and chief executive officer, Archer-Daniels-Midland Company, Decatur, IL.

Lodwrick M. Cook, chairman and chief executive officer, Atlantic Richfield Company, Los Angeles, CA.

Kenneth T. Derr, chairman and chief executive officer, Chevron Corp., San Francisco, CA.

John J. Murphy, chairman, president and chief executive officer, Dresser Industries, Inc., Dallas, TX.

James B. Hayes, publisher, Fortune magazine, New York, NY.

James D. Jameson, chairman, Glenair International, Del Mar, CA.

H. Leighton Steward, chairman, president, and chief executive officer, The Louisiana Land and Exploration Co., New Orleans, LA.

Donald B. Marron, chairman and chief executive officer, Paine Webber Group, Inc., New York, NY.

Donald M. Kendall, chairman of the executive committee, Pepsico, Inc., Purchase, NY.

Chesley Pruet, president, Pruet Oil Co., El Dorado, AR.

Leonard Sylk, chairman and chief executive officer, Shelter Systems Group, Hainesport, NJ.

Alex J. Mandl, chairman and chief executive officer, Sea-Land Service, Inc., Edison, NJ.

James W. Kinnear, president and chief executive officer, Texaco, Inc., White Plains, NY.

Mark C. Hungerford, chairman and chief executive officer, Transcisco Industries, Inc., San Francisco, CA.

William T. Esrey, chairman, United Telecommunications, Inc., Westwood, KS.