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Helsinki Women Business Leaders Summit

September 25, 2002

September 25-27, 2002-- Helsinki, Finland.

Eight successful businesswomen from Lithuania will join their counterparts from Finland, Latvia, Estonia, and northwest Russia at the Helsinki Women Business Leaders Summit in Finland from September 25-27. The Summit was conceived of by U.S. Ambassador to Finland Bonnie McElveen-Hunter as a "business model" for entrepreneurship, intended to bring 50 of America’s outstanding women business leaders to Helsinki to join their partners from this region to share "best practices" and secrets for success, including accessing capital. The U.S. Embassy in Vilnius is cooperating in sponsoring the Lithuanian delegation to the Summit.

Included in the Lithuanian delegation are Ms. Ruta Rutkelyte, Consultant (Former owner and director) Stock Company "R.R.W. Medical Trade"; Ms. Egidija Vaicekauskiene, Director, ZUB "Nematekas"; Ms. Ona Balzekiene, Managing Director, AB "Audimas"; Ms. Nijole Velickiene, Fashion House "Nijole"; Ms. Dziuljeta Armoniene, Production Manager, "Svyturys-Utenos alus"; Ms. Nijole Steponkute, Lithuanian Women’s Society; Ms. Aida Zigmantaviciene, UAB "Justima"; and Ms. Liudmila Macajeva, Social Innovation Fund.

The Helsinki Women Business Leaders Summit will feature three days of VIP keynote speakers, panels, and gala evenings in Helsinki—all aimed at strengthening business opportunities, creating mutually beneficial partnerships, and developing lasting friendships among participant countries. The program will build management and business development skills and reach across the Atlantic to develop relationships among Baltic Rim, American, and Russian business leaders.

Part two of this two-tiered initiative, the "follow-up" program, will take place the week of November 11th. The Baltic Rim businesswomen will travel to the U.S. to visit their CEO partners’ companies to experience first-hand how their counterparts conduct their businesses---management styles, business skills, and the American business perspective. The U.S. visit also includes a two-day educational component at Georgetown University with special events scheduled on Capitol Hill, in the White House, and at the Department of State.

As the organizers of the Helsinki Women Business Leaders Summit explain, it is impressive to see the success of women in the political and governmental sectors in Finland, Russia and the Baltic countries. There is, however, a huge opportunity for growth and increased development in entrepreneurial and business arenas, as well. In America, the labor market is fueled by women-owned businesses. Women own almost 40% of U.S. businesses, generate 3.6 trillion dollars in annual sales, and employ more people than those employed by the Fortune 500 companies combined. Promoting business entrepreneurship boosts a nation’s prosperity and growth, strengthens democratic institutions and increases peace and regional stability. Good business makes for good government.

Since September 11, Americans have looked for opportunities to donate their time and talents to help others. President Bush created the USA Freedom Corps in an effort to capture those opportunities and foster an American culture of service, good citizenship and responsibility. Fifty American businesswomen are answering his call by volunteering to share their experience and know-how with their Baltic Rim counterparts.

The Summit program focuses on the Baltic Rim, an area that boasts two women presidents – Finland’s Tarja Halonen and Latvia’s Vaira Vike-Freiberga – both of whom will address the women entrepreneurs in Helsinki. Summit participants include 50 American, 25 Finnish, 6 Russian, and 25 Baltic Sea region women CEOs, whose business endeavors span the retail, hospitality, IT, communications, public relations, service industry, health, and manufacturing sectors. Sponsors include the U.S. Department of State, the government of Finland, and other public and private entities.

U.S. Ambassador to Finland Bonnie McElveen-Hunter believes that: "economic development not only creates jobs and prosperity, it creates strong partners, allies and friends. This summit, a public-private partnership, is the transatlantic link at its most productive. In the long run, business, trade and commerce are not only about economic efficiency, but also about knitting our nations, ideals, ideas, and common values together. The Helsinki Women Business Leaders Summit will pay future dividends far greater than the investment. Countries must, in order to prosper, successfully utilize 100% of their resources…both men…and women!"