Communique‚ About a Joint United States-Soviet Union Commercial Commission.
IN ORDER to promote the development of mutually beneficial commercial relations and related economic matters between the two countries, Soviet leaders and the President of the United States Richard M. Nixon have agreed to establish a U.S.-U.S.S.R. Commercial Commission.
The U.S.-U.S.S.R. Commission is to Negotiate:
--an overall trade agreement including reciprocal MFN [most-favored-nation] treatment;
--arrangements for the reciprocal availability of government credits;
--provisions for the reciprocal establishment of business facilities to promote trade;
--an agreement establishing an arbitration mechanism for settling commercial disputes.
Study possible U.S.-U.S.S.R. participation in the development of resources and the manufacture and sale of raw materials and other products.
Monitor the spectrum of U.S.-U.S.S.R. commercial relations, identifying and, when possible, resolving issues that may be of interest to both parties such as patents and licensing.
Sessions of the Commission will be held alternately in Moscow and Washington. The first session of the Commission is to take place in Moscow in July of this year.
Note: On the same day, the White House released a fact sheet and the transcript of a news briefing on the U.S.-U.S.S.R. Commercial Commission. Participants in the news briefing were Peter M. Flanigan, Assistant to the President for International Economic Affairs, and Ronald I,. Ziegler, Press Secretary to the President.
On July 10, 1972, the White House announced the membership of the U.S. delegation to the first session of the Commission convening in Moscow on July 20. The White House also released a fact sheet on the Commission and on the membership of the U.S. delegation and the transcript of a news briefing on preparations for the first session in Moscow by Peter G. Peterson, Secretary of Commerce and head of the U.S. delegation to the Commission.
On July 17, the White House released the transcript of a news briefing by Secretary Peterson on his meeting with the President to discuss the forthcoming session of the Commission.
Richard Nixon, Communique‚ About a Joint United States-Soviet Union Commercial Commission. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/254857