Russian Ambassador Vladimir P. Lukin visited Washington state to encourage investment in Russia. While acknowledging political instability and lack of infrastructure in Russia, Lukin argued that these challenges should accelerate foreign investment. He predicted that within 10-12 years, Russia would become an economic "tiger" like other developing nations if it receives help establishing a market economy through foreign investment and business partnerships. Lukin held up Alaska Airlines' new seasonal flights to Russia as an example of partnerships that could pave the way for future economic opportunities.

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Friday, July 17, 1992 - Page updated at 12:00 AM
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Russian Diplomat Makes Investment Pitch
By Margaret Miller
Russian Ambassador Vladimir P. Lukin launched an unusual pitch for foreign investment yesterday, saying
his region's political instability should hasten, not impede, American investment.
"The most important cure of feudal qualities is the fast development of a market economy," Lukin said
between meetings with business and government leaders during a two-day visit to Washington state. "I'm
not sure this winter will be any more better than last . . . we certainly need your help, not only humanitarian
assistance but also investment."
To encourage economic ties to the Pacific Northwest, President Bush and Russian leader Boris Yeltsin
agreed during their recent summit to establish a consulate in Seattle. Lukin said the consulate will open in
October on Capitol Hill. He hasn't appointed a consul yet.
The ambassador's visit ostensibly focused on ironing out formalities for the new consulate. But his country's
need for American investment spiked his meetings.
In addition to waves of nationalism through the Commonwealth of Independent States, Lukin cited more
concrete stumbling blocks to foreign investment in the former Soviet Union. Russia, he said, still lacks
infrastructure, a democratic legal system and a currency that is accepted in other countries.
He also predicted that social unrest will become "potentially explosive" when Russia's gap between rich and
poor becomes more evident.
This sort of honesty may not be what potential investors expect but Lukin balanced it with long-range
predictions that he said he hoped would create a "Klondike-style" rush of entrepreneurs.
"It will not happen in a few months only," he said. "But in 10 to 12 years, we will become a new tiger - but a
tiger which knows how to sit down quietly in the zoo like you."
Lukin held out Alaska Airlines as a model for investors. Last summer the company began flights to two Marketplace
Russian cities, Magadan and Khabarovsk. The experimental routes, offered during summers only, provide a
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2. Business | Russian Diplomat Makes Investment Pitch | Seattle Times New... http://community.seattletimes.nwsource.com/archive/?date=19920717&sl...
solid foundation for the future, Lukin said.
"I'm sure that is not their most profitable flight now, but they will be in a most favorable position in a few
years," he said.
The Foundation for Russian-American Cooperation was host for Lukin's visit to Seattle. The nonprofit
organization, founded at the birth of glasnost, helps businesses find their footing in the Commonwealth of
Independent States.
Carol Vipperman, the organization's president, said many local businesses are poised to invest in the
fledgling democracies.
Copyright (c) 1992 Seattle Times Company, All Rights Reserved.
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