(00:00:00) Twenty minutes now before six o'clock Gary eichten looks like things have gotten a little ahead of schedule on us here. Yes indeed. It looks like the the meeting at the Radisson Plaza is underway and I suppose we should go check that out. Let's do that Dwayne Andreas is speaking right now of Archer Daniels Midland (00:00:16) given the oxygen bottle to the free enterprise Market oriented economies of the West. Making it possible for us to redirect our resources death was most to more useful purposes. They could possible. In fact for us to save the capitalistic system from the ravages of debt and inflation spiced that are the co-partners of Cold War clearly. It is in our interest to help integrate the Soviet economy into the economy and the trade patterns and the politics of our globe George Bush. Our president has charged us with this responsibility and will enhance our security and enhance our prosperity. Mr. President Mother Teresa a mutual friend of ours has said to me, please. Thank him. For the freedom to worship. And please tell him. That although Time Magazine said he's the man of the year to me Gorbachev is the man of the century. Now say a word about the governor the governor organized this affair. I'm amazed at the commend this amount of talent. He was able to produce to help organize this so you could all be here at all the other events of the day governor. Do you have a word to say you're right on the heels. I'm going to ask the president if he'll say a few words first, then we're going to give you all a chance to ask questions. Please have questions ready. You could get yourself as a few hours ago. And this President mmm President Bush and died. Missed it together at our press conference or some double the result of the Washington Summit. Yeah, whom will I personally believe? Store that another you to this Summit will go down in history got stretchy as a summit of Hope and optimism. Near them with radio Trattoria. I think that it really really two or three days later or two or three weeks later ones with lyric. We will really begin to understand what this meeting has produced. Is this new it is teachable occurred here name? Yeah cultural reproduction. I've tried to make sure we're as he's ready to express this thought. It would cover anybody. Let me repeat that this dick meeting was important not only issue for the important political statements and declarations that were made and that are important in and of themselves when they are made by leaders are plush Nations such as ours the great Powers such as the Soviet Union and the United States. stretch in this meeting We will schedule gear give me to a surgeon. I think another surprise dollars compared to others. He was even more important because it is a meeting of crucial decisions. With the bamboo Reed was cool. I will not dwell too long on that because I think your (00:04:44) brothers were Soviet President Gorbachev. This is the meeting that the Mist cores of Gorbachev is having with Nicola nation's business and agriculture leaders at the Radisson (00:04:54) Plaza. It took us some time a long time and a long road to reach this. It is in our relationship what Chernobyl would be lonely mother forced to switch out cut. I don't know sometimes when we express big hopes. We have to knock on wood on black or on the other words images. But anyway, the bull dude, seriously, let me say that we do have high hopes. We hope that the there will be very important political but and political military consequences of this Summit and also very positive you have consequences in all other spheres are relations between our countries because this has been done by countries such as the Soviet Union and the United States. This is also going to be very beneficial for other countries. So the entire world particularly since we have not done anything, that would be That would Prejudice the interest of any other country. Lawrence coverage door Eve semi pirogov, or I have to tell you that both in the talks with your president and in my discussions with other Administration officials and political figures with congressman. Darlene Archie in various ways. Not your church has a Tracker this problem. We address it quite often problems relating to our economic cooperation. I thought Ben and particularly. Meet at the moment of opacity least 3 BC. We gave a lot of room to that a lot of importance to those people that area in our discussions with the president for himself. We tried to understand and and our talk with the president would try to understand what happens because that's very important and in English that not Road making policies is for you. The important question is new video. What kind of the Soviet Union does the president Russia and the US people want to see that the servant does America want to see the Soviet Union that lacks confidence that is not stable that is in turmoil or does America want to see the Soviet Union as a normal Democratic state which Is moving toward new forms of life within the overall framework of humanism and democracy Soviet Union that is working with the entire Global civilization integrated and that Civilization. So this is the alternative and basically the same alternative confronts us. That is to say what kind of the us we want to see And I've been thinking about this for a long time. And if I and my colleagues who were at the source in is at the source of the policy of perestroika and new thinking if we had not decided for ourselves this main question, then I'm sure that we would still be groping for a way. We would still be uncertain about the path which to follow and we have firmly decided on the basis of realities because in policymaking and in our policies for the future, it's very important to stand on the basis of realities. So on the basis of reality is we decided for ourselves that if the United States where to feel Jeopardized as to their security if the United States were to like trust in as to our policies. Then probably we would hardly be able to hope that we'll have a comfortable World in which to live. Well that is not comfortable for the u.s. Is not comfortable for us. So we would like to see the American people you're listening to a (00:09:37) simultaneous translation of Soviet President Gorbachev some comments to business meeting underway at the Radisson Plaza in Downtown Minneapolis business agriculture leaders from around the country have gathered to meet with mr. Gorbachev and let's hear some more (00:09:54) in our bilateral relationship and also on the international Arena So that was something that we decided for ourselves firmly and then the entire concept followed as a result of that choice if you have any free time, I don't know whether you do maybe sometimes. But if you have any Leisure and you tried to take inventory of the specific steps that the Soviet Union has taken over the past few years and domestic and foreign policies. I think you will be persuaded that we have always acted bearing in mind and taking into account. Both in the European area and in the Asian and Pacific area, we have always acted bearing in mind that we have to cooperate with the United States of America that any attempt to isolate America. Or to push America out of some region are futile and would only result in problems. And when we adopted that approach What followed was? solutions to very long-standing and difficult problems the president and I spent several hours together the two of us during this visit our final discussions were in Camp David without neckties and with our an sleeves rolled up and we discussed things in a very intensive way. And I feel that. Bad as a result. We have a new. degree of confidence and mutual understanding. This is the view of all my colleagues here who have come here on this visit. And I have here in our group many eminent representatives of the Soviet people people hard carrying today on their shoulders the difficult burden of perestroika fundamental changes in our country. We have all we all feel that this is the case. those things that were not that had not happened before in terms of thinking in terms of decisions happened this time. We have an anchor for our relations and I would say more we have recognized that it is necessary to move really toward an era of cooperation. And this is the prospect that I think opens up great opportunities. I think you've noted the agreements that we signed with the president as regards economic relations economic cooperation. This is an unprecedented package in our relationship. Finally. We have signed the trade agreement that for decades we were unable to move forward. I would like to thank here. Mr. Andreas I see here. Mr. Giffen. I see many old friends people who even in the most difficult periods of our relations. showed themselves to be real businessman business people who work on the basis of the realities of life. I see here another friend. Mr. Crystal. To whom I talked many times several times see some other people. Whom I know you you showed yourselves really to be business people and the trade and Economic Council LED for many years by mr. Andrews was able to contribute I think very substantially to the Preparation of this to the development of this new approach new Cooperative approach which I think affected in a very important way the political decision the political decision to sign the trade agreement, which I believe is a major watershed. Live coverage of the translation (00:15:00) of President Gorbachev had to lead a business meeting business greatest (00:15:03) belongs to President George Bush. His position I think was decisive in a sharing this result of this whole process the atmosphere in this this major decision was taken was not simple. Yeah and previous to you. Therefore. He saw me think she did the importance are rewarded this decision. Is that much greater. I would like to welcome this joint effort that places us on a new level of cooperation. That's my first point. I thought that it is only in the Soviet Union that the economy was so dependent on politics, but I see that in the United States. There's a lot of similar dependence of Economics on politics. I think I can say that now but of course policies politics Also depend a lot on the economy. So it's a dialectic link here. It appeared way that we are now. My second three-pointer Monica is about your culture was possibility to the process of change in our economy about perestroika in our economy. I would like to be briefed about this many of you. I think must have visited your phony about Moscow or I don't know maybe he's quite a few have not Logan all many new people. Yeah. Well I Stumble has good water. Yeah, officially, I recently talked to members of the board and Economic Council in the Moscow and I tried to tell them what we intend to do with our economy and how we know and how we tell you do it five years. Let the ocean is new Brazil will deliver a period that the like the last five years Superior that has not been simple for us. We had to sort things out to understand what kind of a society we have Truman of food. What are the good things that we were able to do and what are the Mist judgments that we have to abandon the job we were trying to do that sure ski, was he someone in a very thorough way energy and also in a very tough way to what ourselves you know, and it's so critical way toward ourselves. No, we need to tell you we but what you need in addition to studying ourselves up really were trying also to test certain new elements of new forms of economic Management in and seaweed and tried to cost accounting. We tried these holes. We tried cooperatives. We tried you sell financing and self-management and autonomy efficient production units bleep tried quite a few were Silly that gives LaVine everything's in order to gain experience and try to place Our e to the weep results in a management people and production units into a new situation of not really Gog new conditions or circumstances reaching no and we have seen that the whole process God come on move the head fairy with great difficulty why because of that command system and we have they command system and gordita politics and in the economy our economic managers many of them very good people who know how to work mean you're good Gore used to a system of commands to a system of taking orders from above and that really happened to any many years many decades under certain type of individual some type of economic manager evolved and it is very difficult to abandon those older ways particularly for people. I'm not that young but in the same way the command system worked as regards those who work that actually worked the machines who actually drive the tractors who work in the research Labs all of them to basically do graduation that type of individually they of course wanted freedom and economic autonomy. But once they got that they would we were afraid they didn't know how to use the hash table with freedom. You probably are so this gives you an idea of the scope problems you push toward And this is how we began go that premium in the what is more once we began the process of change and once people would you easily stream understood how good economic independence is how many of them they saw that the old planning and command structure is the distribution is treacherous those who kept them on a very very short leash. Basically that that system is bad and it has to be dismantled decentralized total Pro linear kernel that whole structure of the economy had to be changed bad planning had to be revamped and services. It has Voyager day near Gisborne is the use and but it turns out that it takes a battles. We need to achieve that p.m. At the rivet Ludi changing assisted in the 70 be changing. My people thought they are intelligent. Paper and you can adjust your carcass there that piece of paper you the whole system is people people who live people who have their own interests who have their own lives and I'm knew that we in the prayer have this the conflict of interest to Chile. Chile really had a problem trying to move these new economic forms ahead and do we were only able to approach that when we began a political reform a be that involved the masses of the people and the political process we had to for some period of time we had to go go with you stop for a while with the economic reform process way and to become a political reform process and this did happen as a result. Our society is one of the most politicized Societies in the world. You're right into things are moving so fast. She moved to Boca reform economic School. God has a mythology that it is. The only possible need immediate goal to change things generally for the better. If we're successful in our economic reform if the economic reform is successful, then people will not need in rallies demonstrations. And so on another of course, I know quite a few rallies and demonstrations. I think there are going to happen before we are successful economic reform that is to say we switch linear are not developing groundwork the basis for any really new phase in a radical economic reform in official now adopted laws on property taxes to laws one has been adopted about tax issue vicuna individuals and the other law on taxing production units and facilities are also law on leaseholds and Number of other than or equal Clause that a variety of form create the conditions for moving toward represent a market economy water toward an Economy based on the various forms of economic management. Yeah. Yeah. I think that this is the direction and we have now become wiser. We have made mistakes. This is true. There have been quite a few in here. You probably need some damage done to our economy had some problems and management because the old system running the economy then you will she really has become weaker and the new economic levers in the new economic reforms of of a market economy have not yet evolved properly the entire structure of a market economy is only beginning to evolve what they sow you shall not therefore we need to adopt a number of other laws and Documents that will make it possible for our economy to really work along Market principles green, you're listening to live coverage of a meeting that (00:24:05) President Gorbachev is having with the nation's business and agricultural leaders at the Radisson Plaza in Minneapolis. The Voice you hear is a translator translating from the Gorbachev's (00:24:17) comments perestroika. The future of perestroika be rui-zhi Bellini president my first I never had a mysterious statement. The president was about the need for to radicalize when you make anomic reform certain movement public perception was good. People said that you know, this was necessary because people felt the entire economy was out of balance. Don't worry with Consumers Market was out of balance. And therefore there was a need for certain measures in order to you know ramune about the whole issue probably by so in order to address that problem of money overhang Ruble overhang in order to address problems. You have management and really move toward the market for Seagull in the economy. Can you promise of course should I move on to monopolize the Canada is to loosen? The Coon Africa we need is another laws such as anti-monopoly legislation of Entrepreneurship legislation small and medium in your business legislation. Now Newton legislation on shareholders Society. We need a mechanism specific mechanisms on the web you how to implement those laws. We need a new credit system of earlier push the what we need to be aspiring doctor and labor exchange and all of those things that exist and have existed in whether you're gay or food economy for many many years the word which is totally new for us. So when you pass Judgment of you what we're doing, please understand that certain things that you have had for many with her decades maybe centuries are very new for us and we are just beginning their return from we therefore when you think that were too cautious that we are weak. This is not decisive enough. You could wrestle with the stylus to mr. Dooley. What is it? That is not true because we want to be cautious right on sister. Yeah, we want to be protein because you want success. But if we just make a headlong Rush it'll bring it in panic and act rashly without thinking that is not good heuristic decisiveness values your ruler that'll just board which make people say that well those people are unbalanced. They don't know how to act in a balanced way and this fundamentally important period of transition if you die, so, you know, though we searched more 323 sometimes you can't you look at it from your American Western standpoint and I may be smiling looking at us have been saying that while the Russians don't know how to do it. Yeah. My Escape sissy with well, I can understand that kind of skepticism and smiles. But still it will mean yeah, this is your wish I had a stage first along the road that we will have to pass image would soon we will not risk and therefore I'm not afraid of the fact that people worry that some people even Panic that some people in the west ward Ward are pessimistic to ruin and believe that the whole country is on the verge of collapse brought the weather with another no don't know but resolve crazy system. I think this is because it's some time that you have your seen a real crisis your generation of Education because your generation of people have basically lived within a system that has had its difficulties, but the emitter in predictable we are having now a very crucial situation this video in which we would like to hope for your carburation and for your understanding, mr. Andrews and mr. Given know that when we met in the hospital I said those people who at this meanie who live in that crucial time at this Watership Watershed that will change the Soviet Union that will integrate us and the World Civilization and World economy work but he chose who are not be with us at this time. He made wish we could have picked you that we have a good chance where they promised her a good Prospect of Corporations only was more diversity in our great country in our great Market because it was a tremendous no Jive, but those who just stand on the sidelines who do not want to risk who want to wait and see them go at least need over here is good who don't risk. Well, they will remain I think observers who years to come. Does New Zealand? We'll make sure that that is so that shit you what Young Canada get oil sir? Stones Gazette, and so when I Was preparing my remarks I asked for You Chris Vision you give usual certain information here as well as the registry Runa bullet issue pizza and his victory. I've been told that he deserves Americans over 1500 joint ventures have been registered or the same tuning not they actually about a hundred and fifty of them group Nation. You will have some American participation will say yeah, the biggest economies Kim project is the project of cooperation between our Soviet foreign economic Consortium, which Jake asked him Target brings together a couple 22 Soviet organizations and factories and the US trade consortiums. Also including Sharon Eastman Kodak out of EDM Johnson & Johnson RJR Nabisco and Mercato's cooperation on produced much. Be started in the Soviet Union in areas such as agricultural processing and food processing food production that always medicine and hygiene power and also a computer and information technology on the it was a misty 2nd of June. So that is a team this year and Brazilians cursory the first Deputy chairman of the Council of ministers and member of my presidential Council. Mr. Rostov signed an agreement currently about the joint venture choices video about a joint venture field Nadine the Chevron participating. We also hope that the idea of American Medical Consortium and ski here which will also bear fruit very good prospects here to visit since American terms and Soviet organizations are negotiating 6 joint ventures to produce medicines Diagnostic and medical equipment and also hygienic and prevention products and the others because I trade and Economic Council is actively involved with Lucy reunion of reduce the yeah. Let me also say that if it was a real General are poised could happen the process of Arms Control puts on the agenda frame problem of conversion. And this is what we're doing as a result with worse than it was more misdeed lighter than steel. We have a schedule additional technological and production resources that can be used for civilian purposes. The Europeans have now become very active are competing for the use of those resources. They understand that we have a very good production. Plant in that sector good Personnel, very competent engineers and research and development resources there when I was in sverdlovsk locked. I saw that three Glee robot ocean over there a factory and we are so much used to produce instruments for our defense and space sector is now being converted to civilian uses and they had a financial problem and the Philips Corporation is now beginning cooperation with those with them and very soon. They will be in a couple years. They will be producing very interesting products consumer products, which I believe have good prospects on the international cool tool markets. I think I've ever told some of the people here about this idea that a bottle or genius pierced. The problem here is that this used to be a very successful organization than the military sector. But they do not have sufficient orders as a result of Arms Control agreements and and the process of disarmament and financially they were in a very dramatic situation is a conceit and Phillips understood the situation and as a result, they reached agreement on certain financial assistance and other resistance and now they already have some samples of what they're going to produce soon. I will not watch it say to you now what actor knowing what those products are Phillips. I think know very well how to create commercial secrets of coordinate and I think our defense people know that too and so they took me in a special room where they showed those future products and I think that those will be good products. Anyway, we are now developing a national conversion program. What's going to walk with yeast or you have some experience in that regard as well. I think that We should exchange that experience between you and us how better to use this process of conversion. But growing a goatee along with two or three perspective operator cut publicity of its own. I think also frankly that the aircraft project has good prospects and civilian Aviation time. He it was more nasty. Moon us Hiroshi throw in that area because we're so lucky to have good potential in aircraft building and you probably understand that we have already the consent of the government of the administration left. So I think that this is this too will be a major feature of the media project. Worth billions go production or not. Some of the automotive through equation my sister there is a market for aircraft. We can build aircraft rather. Well, although there are some problems but I think that if we join us which one you the other illness proven that we can make a good product. We also have a lot of underneath the band telephone communication and here again joint efforts me in the world would help to it's not only the Soviet consumers but also the foreigners who work in the Soviet Union, we never write your project project. You probably know that project through the territory of Siberia an international Consortium (00:36:36) being made by Soviet president Mikhail Gorbachev had a meeting underway right now at the Radisson Plaza in downtown, Minneapolis. Gorbachev meeting with business and agriculture (00:36:44) leaders Are you guys with me on set up her own? I am chairman of the Soviet defense which lead counsel and recently we had a discussion about the family needs privilege that discussion put me in turned into a discussion of current economy and our defense people who are smart and shape of the blade proposals that I think you may be possible very soon, which only using the resources that used to make the like uniform utilized for defense purposes very soon. We will be able to develop a good civilian communication system with Michelle around meeting projects now and I think that this is good initially when we began conversion the way I treated my natural law that it is good to reorient to convert email clients that produced tanks and artillery and the plants that produce saucepans and kitchen equipment whether those go now we But that was silly and we believe that well if we have to but who do I organize conversion meat and a better way we have to use the machines and Equipment yada in those factories much better shape. Well, I was wrapping up this part of my discussion. But let me just say to you that conversion does open up good opportunities. We are now preparing a national program for conversion or teaching and although we have problems so she will show and quite a few things I think is very influential. It has many him new minion would very powerful but humanity. Is there any way we have an understanding that we need such a program of conversion and I would like you to participate in that Yeah, could you admit it? I would like to note ministers to put Inception uses are to another achievement at all. The combat is uh cooperation between Auto Mall Ministry of Railways and between the 223082 where he was involved in Northern companies rarely. Heston is only bomb in particular bomb great opportunities exist is the EU and the development of the economic zone of the baikal-amur Railway. Because that Railway they buy caliber Railway really linked up to Regions to areas where we have enormous research has been a modernization is coated my beanie permissions to propel a guy that you know question Australian company modernization of Soviet Automotive aviation industry wish to also calls I think for participation of foreign companies. I don't know why but where had very mixed results in cooperation in this area. It happens that we begin talks We Begin negotiations, for example that Ward Hugh. Can you forward a we don't because that is beneath you came a long way almost until the end of the talks and then suddenly they bowed out what you guys don't know what happened. They said well, this will not work, but I think this is an area that has potential in the west some people say Why do you want to cooperate in this area? Mostly with the Americans? Why do you focus on cooperation with the United States and the automobile area? Well, I'll tell you maybe it is because when we began the development of our automobile industry in the 1930s 9030 American Technology that was used why me and American Equipment was bought three strands and that has a bearing on our current position and also given the fact that we need very big project for a big country. When we begin such a project we feel that we need American business because it is so big others may not others may not be enough. So I'm very Frank with you because I want to understand this. Computer technology, which I would like to single out two important project collaboration with controlling data that will mean that he could improve the efficiency and safety of our nuclear power industry in William and I understand that will be meeting with people in control. So obviously Brendan who I am he whose joint project between IBM and our poor education committee that world if you're watching for help to computerize our schools there to we have tremendous opportunity our positions working with the president. I talked to your vice president vice president Quayle probably up without who is a fan of with more space for you. I was asking whether he's a fan of outer space or I've SDI what he's more culture what is a greater interest to him here and if they it seems that she is more interested in. Peaceful space exploration. We need to let me see that if we combine our efforts because our space programs were somewhat different way. For example, we have good space stations. We ever big Rockets. I used to carry a Rockets which I bigger and more powerful than yours you have on the other hand some very important achievements. As Regards space equipment and space instruments as well. So if we combine that and space research and in space technology and the launching of your Satellites by our rockets and also in scientific operation, I think this is another area which it is very promising. So let me say that I am in favor of Independence virtual dependence of the US and the Soviet Union and of the Soviet Union are the us because currently we are independent which two independent. I think it is the only because we have too many weapons that we have to think about ourselves and think about how to address that problem of too many weapons and that is good that we're addressing but I think that Midwesterners you're also interested about our agricultural relations. Mr. Andrews many times our science data for me. I will say this me. Yes, they wish each other smile you breathe if we were able to solve the problem of partiro harvesting the problem of Transportation increased Agricultural and processing of our agricultural Commodities. I think that many of you know that very well Pete's we could retool more as I can given the current Harvest we could expand our agricultural production by about 25 to 30 percent would be that there's a tremendous gap between what we can produce know and what we can deliver to the people and it's a problem. We was in the pool. Some of you know, but I do not want to scare you because some of you will say that really you're not worth squirrel cooperating with but let me give an example about potatoes how much have potatoes will grow and how much we are delivered to the people the people and the same figure is as regards the United States. You will see the Gap you will see how how much waste there is in our agricultural system or we combine chefs with was kind Dawn we are now should be producing a new Harvester called on which is bought by some Canadian farmers and under your own has good reviews shame were right where we use that Harvester they knew Ryan if Rihanna, so we have much better results. I think you could perhaps better or what? Particularly in the Ukraine and and caban. So our old equipment was really very bad. The new equipment is much better we have also the need for better is the processing factories here which various sizes that's more worthy of their example small farmers small farmers who live in their Farms maybe even in the woods with those don't know they need very receptive small sized equipment. They produce very good milk till its ears milk from grass-fed cows. They could produce cheese the kind of cheese that that we used to make him another that decades ago that that was bored avidly in Europe. He needs that kind of equipment equipment to refrigerate equipment process. We didn't have any of that jazz. This is an area where there is a great deal remains to be done. (00:46:40) We have temporarily lost our signal from the Radisson Plaza where President Gorbachev has been meeting with Business Leaders. Just update you mrs. Gorbachev rise of Gorbachev has now arrived at the Watson home on Garfield. I believe this is she's at the Watson home is she not and on 4800 block of Garfield Avenue South in Minneapolis word. Has it that interestingly enough on the way to the Watson home the idea being she was going to visit a typical American Family. She stopped off to the drug store don't know Bob what she was doing at the drugstore, but that's the word now. I have apparently we have received we have our signal back from the business meeting. So let's go back to that will keep you posted on the visit at the Watson (00:47:32) home the market mechanisms mirrors Lewbert they have not yet begun to work. Not yet in place and our economy is suffering from where this kind of turmoil with. Our conclusion is that we should move toward the market economy more rapidly and we intend to do so. Should a growth serum your boom. Oh, yeah. I've been given a note. Let me read the note. It would appear where it is. The business of this ebook kind of instability is in a way means inevitable unavoidable because we are changing a system where changing one model of the economy. They're replacing one model of the economy with another one. Secondly, we like to be spoken in the flicker of the West and the business Community. There is now some concern about payments by the Soviet Union. Let me say that generally of course our debt compared to your dad is really is really very small. The worst. Our is is about 400 years needle billion and yours is about 330 billion there. No.3 newness Trista treats our domestic debt is 330 or 400 billion, but yours is I guess about two trillion even worship three more than that. We are the premier me. Well, of course, I will never dare you cannot because when you understand to say that because of this the US economy is on the verge of Collapse, by the way, we discussed that with your president CSU yesterday we to it rudeness T have an installation problems nanu nanu have to move away as a result of a major drop in oil prices, which result of diarrhea in a loss of the Key Programs 50% foreign currency earnings read in a conditioning product. You buy them all so we are now developing certain projects that will make it possible for us to use our oil resources more efficiently. If we don't do any way you have to I think assume that the payment problems that we have now are temporary and you certainly can be sure that you will not lose your money in the Soviet Union. Yeah, but ideal dress C. So I would like really to dispel those fears. I don't know you're gonna contact although probably at some stage at some phase. There will be a need for us to take your concerns into account. I look at you also, mr. Maxwell and she is aware of the situation what the situation is like slow-mo here with Gizelle Doug. But in so to sum up I would say this the potential of seeing you as we see it. He said we need for cooperation and for an interrelationship wherever you is enormous, we believe that this political breakthrough that we have seen and that we can note as a result of this visit with Bouzouki creates volume knob really good conditions more favorable conditions, either for providing further momentum giving further impetus reliable economic cooperation. I would like to wish you Mitchell e beneficial deals your social advantageous deals. Yes business Links of the way between the Soviet Union and the American Midwest will be successful. So good luck. Senate president Mikhail Gorbachev speaking to meeting (00:52:00) the Business Leaders at the Radisson Plaza Downtown Minneapolis. We understand that he'll probably be taking some questions from the audience. So let's let's check back in (00:52:10) thank you very much. Mr. President. I see that you skipped a few paragraphs there. I hope you didn't classify them top-secret. Maybe I can manage the trade notes with listening to drain Andreas Archer Daniels Midland chairing the meeting so I'll have to trade notes with you later. Thank you very much for those very Frank and and lightning which comments. First I'm going to call on with the MacMillan. He's not only because CEO of a firm who has done more business with the Soviets over the last 20 years than any other but he's National director of our Council and a tower of strength in the u.s. USSR trade and Economic Council for many years. Especially. When did you have a question? What's this? Yes, I do have a question. Mr. President. This is a very local question deals with Minneapolis. And st. Paul you may be aware that we are a closed City for travel Soviet diplomats from Washington and Soviet diplomats are Soviet businessmen from New York City. And at least one company here thinks that puts us at a competitive disadvantage to a companies located in Decatur, Illinois. The question that the question mr. President is whether you and President Bush discussed this problem of closed cities because there are other closed cities in the United States and in Russia as question of of travel and if you did not discuss it on this trip and Summit, I would hope you would discuss it at the next trip. (00:54:17) Helen is the chairman of cargo and (00:54:19) crew say that indeed this question was not discussed and you're quite right that this question does exist. It's wear gloves could the city where that Electronics Factory which I mentioned and there's a closed City but Phillips is working with that formerly defense-oriented Factory in that closed city of sverdlovsk. So I think you see that there is movement there. Let me take note of your suggestion and in order to think about it certain restrictions, I think have to be lifted in our country but probably will have to We're brushing. It discussed that with the American side so that the president to left some restrictions. I understand what a close it to my city means I know both of us have learned how to close cities. John black you ever question what? John block is former secretary of agriculture. Thank you very much. Mr. Chairman. Mr. President President Gorbachev, the agriculture industry and the food industry in the United States once very much for you to succeed in your efforts and to for the Soviet Union to prosper we're delighted that we have a a trade agreement signed. We believe that we also need MSN for the Soviet Union. And in that regard, I am chairman of an agricultural advisory committee to the citizens Network and we have secured the signatures of some 26 farm and Agri industry organizations in the United States and corporations five former secretaries of Agriculture or signed to that statement supporting mfn for the Soviet Union. It's linked lie. I read only one paragraph One sentence rather the undersigned members believe that a trade agreement between the United States and the Soviet Union including most favored nation status is in the best interest of the United States, and I believe it would be in the best interests of the Soviet Union, and my question would be if you believe that it would be helpful and how helpful and I would give this statement to you today (00:57:03) live coverage of the meeting between President Gorbachev and Business Leaders at the Radisson Plaza Hotel in Downtown, Minneapolis. (00:57:14) Well, even on the basis of what you have just said about the meaning of that particular appeal or statement I can say that. Yes, you taste that I do believe that you do what you normally this is a very necessary and a very timely statement. he When you come to me, I will say oh she's even more and we have a great stake a lot of interest even us. In mfn round within the framework of what we will be doing. I didn't spirited one of our first priorities that this is because it is still a great culture and generally or agro-industrial complex very soon. We will be discussing this problem specifically at my presidential council meeting that she witnessed the initial. I hope that this will not provide greater Clarity in order to make sure that this is a priority that we not only Proclaim but anybody that but that we Implement that our government implements Thank you. If you have a question, mr. Sofel, he's chairman chairman of the medical consorted Consortium. Mr. President. I wish to report to you and also give you a question that since we last met in October in Moscow that the American Medical Consortium which is Pfizer Laboratories Colgate Hewlett-Packard Hospital Corporation of America MSP Corporation Federal Express Corporation. And Amoco have successively signed a principal agreement with our Soviet counterpart on May 22nd in the Soviet Union. I'm also pleased as you know, the good news is we've already completed three joint ventures that means we have completed them and I owe that to the assistance of the USSR trade and Economic Council and to the support of your colleagues. Mr. President since you've had a successful Summit, let's go and see this economics is a very important part. I would like to invite your people and we've already invited mr. Moskal off and his group and those must cross and those individuals that supported the important trade agreement to a special business Summit in December of this year at the American Graduate School of International Management Thunderbird in Phoenix, Arizona along with American their American counterparts for the purpose of having first Soviet and American Business Summit to discuss issues and to get them completed and get joint ventures completed the Soviet Union and I want your help in supporting that sir. So then you said Mr. I will give support to this. This is a good thing. Yes, very important. Thank you. Mr. Knowlton. Did you have a comment or a question? I want you to know mr. Knowlton that I had to several helpings of your very good can meet the last time I was in Moscow. Yeah. Yeah, George Norton is the head of the yeah, of course, one of the great products that helped Russia through World War II was spam and we'd like to join you in restoring their product which once-proud position I do have a letter from the agribusiness Council that I would like to present to you and it's the excels that the many of the major corporations in this room are part of the agribusiness Council and we would like to have is you have it because it's an extension of cooperation of the same things that you've been talking about. Thank you good. There and we another question from the floor. Mr. Crystal from Des Moines Iowa Bankers little time that I've known you. Mr. President. I've been disappointed in the agribusiness trade, although it progresses. I think part of that is the caution of American Business at this moment. Is it possible that the capital invested in the Soviet Union for Just Cause would be repatriated instead of being frozen Soviet Union that's part one part two the earnings of that investment in the Soviet Union will necessarily until the ruble is convertible the needed to be invested in the Soviet Union. Can that exchange rates be Frozen at the time of learning? I'm wasn't it is received by bruises at minimum cost. Kuroshio current well, it's a good question. So because there it's a beautiful chest your process so far is the first portion of your question is concerned. We are now preparing a document that will assure the protection of investment and also that he was a capitalist provide for specific procedures to repatriate profits or to reinvest profits in the Soviet Union. For the movement of capital if you were going to therefore, I think that will improve the prospects as for your second question. We all wish anything soon is with shame. We are looking very intensively into this question of the week in the community room Ruble convertibility and how to achieve that we were still me William - video first thing we are gonna do will be redeemed are very soon. We will introduce World Market prices in our Council for Mutual economic assistance of Eastern European countries, whether new Beastie, you know Trinity and we also have to introduce prices more closely reflecting World prices in our own country Gloria. Don't then we don't need to say nothing of the need to have gone on a new and more effective economy. That goes without saying if we just you know, open up the Soviet Union right now and introduce convertibility right now, it'll take you just three months to take over the entire shop. We do my homework to finish new shag you we think that we will begin taking steps in order to give Ruble real content content that we will begin soon and we will move step by step toward full convertibility in the context of the overall change our economy, right? So we'll be moving along a certain road. We used to think that this will be a very long road now, we believe that we can shorten that road and that we really must do it. Thank you. So, is there another question? (01:05:02) This is live coverage of Lee meeting at the resin Plaza in Downtown Minneapolis between Business Leaders and President Gorbachev the Soviet Union. (01:05:10) Mr. President. This may not be news that American Business Community would like very much to cooperate with the Soviet Union as always this visit of yours can become a very important impetus and incentive for further expanding that cooperation. Would you think that it is right that it is appropriate to nominate a small committee with special rights with decision-making rights? Yes. Nice another the couches throw me a number of people in our side and on your side. In order to make sure what are the principal priorities for each specific year. Based on what is most important and what is of priority of the greatest interest for your economy today? Thank you and good luck. Thank you. I think I understand you at the cell through initiatives to yes indeed. If we are moving in our cooperation in a practical way. We have to develop some kind of mechanisms that would facilitate that process the process of identifying the real priorities and the projects that can produce rapid results and Achieve goals. I think that even within the framework of u.s. U.s. USSR Economic Council, we may create a special task force that would identify those priorities. Maybe just natural we've decided that this I was worried that this task force within the u.s. Soviet trade and economic commission will be headed by mr. Mosley cough and that's very important. So we waste really sure in order to facilitate passage of important decisions about that special group that you have suggested. I think you missed a couple generally had the u.s. Uses our Economic Council on the Soviet side, but about that task force. I think that yes, we will consider that and we'll find a solution to this problem that you raised. Mr. Gifford, I've been given. Mr. Griffin is president of the American Trade Consortium. Mr. President. I just like to reiterate one of the things the points that you made and that is that Western European and Japanese companies are quickly attempting to move into the Soviet market and it would behoove all of those of us in the American Business community that are interested in your Market to move as quickly as possible in that respect one item. I think that might be helpful is if we could find a way to speed up the registration process of joint ventures. Once they the foundation documents the charter agreement the joint venture agreement and the feasibility study are completed and I'm certain that something that you can do very simply Good. It's nothing but VD Amin has any other medium? Yes, we take note of this suggestion we do. I think you're right company. Mr. President. My name is Roger hail at the tenant company in Minneapolis were not as big as many of the companies represented here but sell industrial scrubbing and sweeping equipment around the world and compete effectively including placement small orders in Soviet factories during the past 20 years. Thank you very much for those orders. We have found that in order to compete successfully in the world markets. We have had to dramatically improve the quality of our products during the past 10 years and we have also in Minnesota established during the past several years a console for quality, which I've had the honor of being co-chairman of it's an effort of cooperation between labor business and government officials to enhance the quality of products and services originating in the state of Minnesota. So, We can compete effectively worldwide. I have a Russian translation of our objectives and goals here, which I would like to pass on to your delegation and I would like to urge any kind of cooperation that you're experts in trade and quality would feel of use to them. I have one question along this line. Although the needs of the customer are the most valid test of quality for our products in any markets many of us in the United States are now trying to improve our quality by competing for the National Quality award named after the late Secretary of Commerce Malcolm baldrige. And in fact in Minnesota next year, we will have a mini version of many baldrige award to encourage Minnesota companies to improve their level of quality. I would like to ask if there are efforts like this going on in the Soviet Union. On a regional or national basis and what your thoughts are on the subject of competitive World competitive quality for Soviet products. Well, we used to have that kind of competition. So obviously she of course that was within an economic environment that was outdated at that time. It was part of our Command Economy and therefore I don't think it produced Real Results, but I do believe that this kind of competition is important. I think that competitiveness is very important and we have to emphasize competitiveness in our country. I noted this just one sentence but I did say that we are now will be adopting certain laws some of those laws, of course to phase out State Property, which is important because we have to strike a blow against monopolies and we had to create real competitiveness. Secondly. We will be establishing conditions. 13:11. Oh, yeah, but you will be beneficial certain privileges for small business, but they are also speaking of competitiveness of kind of a rivalry for better quality. I think that this too will be an important element and I would like to welcome this year also used the word but competitiveness of American Products. Let me say this I forgot to tell you this in my remarks when we invited American companies to compete for bids on our project to improve our light and food processing Industries in the Soviet Union, we found out that many proposals and bids of us companies were not competitive as compared to the Germans and the Italians and the French It is a fact as you know, at least another so Latina we need to complete the competitive proposals. Become a Swami is any money is one cable while we were both of us engaged in the arms race with the former vanquished defeated countries. The Ramiro we were in the country defeated in the World War II worked hard in the civilian sector is and achieved good results. (01:13:36) Translation of President Gorbachev comments to the Business Leaders at the Radisson Plaza Hotel in Downtown (01:13:41) Minneapolis with their potential is very good. Yeah. I mean you do and britni's puzzle - in terms of competitiveness from we think your money where your camera her into Germany tally you put the Federal Republic of Germany, Italy and Japan. Sure. Okay, shall we wrap it up? We probably used up all our time. Mr. President. I would like to comment on your last comment. If you look into those German and French and Italian companies, you will find very many of them have American companies interested in their common stock holding equity in those companies and I'm wondering will it soon be time when we can buy an interest in Soviet companies corporations American company can buy and own a part of it Bonilla. Yes. I think this probably is quite possible will be moving toward that we will be their metabolism good. Thank you very much all of you for being here. Thank you. Mr. President Dwayne Andreas the chairman of (01:15:01) Archer Daniels Midland wrapping up this meeting with President Gorbachev and members of the US business Community many of them from the Minnesota area and from our region. Generally. This is live coverage of the presidential trip by Mikhail Gorbachev to the Minneapolis st. Paul area history and making event this afternoon and evening at the same time Gary eichten that President Gorbachev was addressing the Business Leaders his wife Raisa was off visiting a home in South Minneapolis at the Watson home having apparently having cookies cookies are bars. We weren't sure which look like cookies mrs. Purpose your course and the family sitting around the table chatting big crowd turned out over at the Watson Holman in South Minneapolis. What estimates is 5000 7000 people something like that, but the wire service indicates indeed, so as we understand it, what will happen now, is that the mrs. Gorbachev and mrs. Perpetual head back toward down. How many apis to reconnect with the rest of the motorcade and then they will head out to Control Data Corporation the last stop on this trip by President Gorbachev to the Minneapolis st. Paul area the track the visit to the farm having been canceled word of that as soon practically as the air plane touched down simply because the Soviet delegation was too tired from the events in Washington, I guess. But anyway the the Brand family from Farmington who were to have hosted the Gorbachev's out at the farm will instead have a chance to meet with them on the tarmac of the airport according to the reports that we have. It is about three minutes before seven o'clock. We are going to pause for station identification and just a moment but let me bring in for just a half a second here our guest commentator Evelyn who is been watching this business meeting and he instant reaction to it Evelyn, um Gorbachev Stressed one theme in particular and that is that the Soviet Union is a good place to do business. He stressed that the Soviet Union would like to be a fair player a reliable business partner. That's something that the Soviet Union has always been known for in the past a place that paid its bills on time. You didn't have to worry about defaulting on loans or what have you that's become a little more sticky lately as Enterprises Soviet Enterprises have been given more freedom in foreign trade, but he wanted to stress the Soviet Union was still a good place a reliable place to do business. How do they deal with the convertibility of the ruble that that really seems to be a big stick in perked right up when he started talking about that? Yeah. Well because business reaction was very enthusiastic and mr. Crystal from, Iowa. The one who raised the sticky issue and how do we get our profits out? And this is where convertibility really poses a problem and it's really more a matter of commodity convertibility not just currency convertibility the Soviets could declare tomorrow, but the ruble was convertible the reasons why they don't want to do that. But even if they did that there's a problem of that being meaningful. If no one wants the ruble. If no one wants to buy Soviet Goods. No one wants the ruble the ruble the price of the ruble will fall an international currency markets and that poses real problems for Soviet for the Soviet domestic economy. What Gorbachev said today was that they're going to work toward convertibility in three stages Evelyn we're going to join President Gorbachev was now meeting with reporters in the lobby of the Radisson Plaza. (01:19:17) I think I should give serious thinking to what we have said which motion turn - Mowgli. She's too immature to the Americans sushi sushi. Well, what's Happening Here folks is that President Gorbachev has just been presented a t-shirt by explorers. Will Ste gerd Paul shirky and I think that they're just (01:19:50) probably talking about about that. This was an opportunity that was on the schedule for him to meet with the two explorers. Obviously the Soviet Union had been a participant in the Steiger expedition across Antarctica and let's go back there. See if we can pick up a little bit of what this is (01:20:05) about. What has been your most recent years have seen major accomplishments the situation in the Arab countries, usually published between these two she leads a short. I'm having a difficult time and I think you are making sense of what this is (01:20:37) about. We should remind you that Minnesota Public Radio is live coverage of President Gorbachev visit to the Twin Cities is made possible by the international public relations consulting firm of Padilla Spear and Beardsley, you're listening to Minnesota Public Radio. This is a member supported broadcast service. You're tuned to klow Minneapolis-Saint Paul. There is a frost warning for the Twin Cities area tonight outlying suburbs anyway.