(FORTUNE Magazine) – Has Mikhail Gorbachev gone Madison Avenue? Apparently so. The Soviet leader is using imperialist dog-and-pony shows to sell his country's products and politics to the West. In August the U.S.S.R. paid about $225,000 for a nine- page ad section in the Wall Street Journal that called for closer economic ties between the two superpowers, especially in the form of joint ventures. It's all more of Gorbachev's policy of glasnost, or openness. Expect the Soviets to experiment further with Western-style marketing. Says James Giffen, president of the U.S.-U.S.S.R. Trade and Economic Council: ''They want to show Americans that they mean business'' (see Looking Ahead). So far five joint venture agreements, none involving American concerns, have fought their way through Russian red tape to consummation. Several hundred companies have expressed interest, and a few dozen, including Monsanto and SSMC, maker of Singer sewing machines, have signed letters of intent. Says Ed A. Hewett of the Brookings Institution, a Washington think tank: ''Business is skeptical. They need to see more measures toward providing a hospitable business environment.'' He is quick to add that changes to date are significant, saying, ''By Soviet standards, they are ballistic.''