Secretary Mosbacher reports to Business on EC 1992 and the outlook for Europe - European Community - Business America interviews Secretary of Commerce Robert A. Mosbacher - European Community '92 Update - interview

Business America, Feb 25, 1991

Business America: Secretary Mosbacher, can you assess the business opportunities for U.S. firms in Eastern Europe?

Secretary Mosbacher: The West, and particularly the United States, has a vital interest, and I believe, a vital role to play as these countries embark on their historic changes. We are working closely with our partners in the "Group of 24," chaired by the EC. Part of our effort must be to provide realistic financial relief, and we are doing so.

But particularly after my recent visits to Eastern Europe, I am convinced that what is needed is private trade and investment and a solid participation by American business. Last year, American exports to Eastern Europe were only $1 billion. This is barely larger than our exports to Finland alone.

One of our primary concerns in the government-wide effort on Eastern Europe is private sector outreach. An important element here is the business information center called for in the Support for East European Democracies Act. The Department of Commerce began operating this center, the "Eastern Europe Business Information Center" (EEBIC), in January 1990. It is the U.S. Government's central clearinghouse and information center for market information on East European countries, and so far it has handled over 30,000 requests for information from American business and private and volunteer organizations.

PHOTO : Commerce Secretary Mosbacher meets with EC Vice-President Martin Bangemann in October in Brussels to discuss testing and certification issues.