The declaration, adopted after President George W. Bush's farewell summit with outgoing Russian leader Vladimir Putin, says the parties will strengthen Russian-U.S. economic and business interaction, including the establishment of new inter-governmental and business dialogue in the next few months.
According to the declaration, these measures will help create conditions conducive to strengthening bilateral trade and investment relations, improving contacts between business circles from both countries, and raising prosperity in both Russia and United States.
At a press conference held after the summit, Bush said he supported Russia in its bid to join the World Trade Organization, and would seek the cancellation of the Jackson-Vanik amendment in Congress.
The Jackson-Vanik amendment was passed in 1974 and restricted trade with the Soviet Union over human rights violations. The amendment, which still applies to Russia, puts restrictions on Russian-American trade relations and has proved a major stumbling block to Russia's bid to join the World Trade Organization.
