When J. Henry Butta, the newly elected chairman of the Washington/Baltimore Regional Association, talks about the common economic market between Washington and Baltimore, he uses the word "we" almost as if he were referring to a sports team.

"We can do more things together than we could ever do separately," Butta said. "Together we form the fifth-largest metropolitan area in the country.

"What we do to stimulate business or create jobs in one metropolitan area affects the whole region," he said.

Butta, the former cochairman, was named chairman of the association at the 1986-1987 annual meeting last week.

The meeting was attended by Maryland Gov. Harry R. Hughes, Virginia Gov. Gerald L. Baliles, Washington Mayor Marion Barry and Baltimore Mayor William Donald Schaefer.

Also at the meeting, P. Wesley Foster Jr., former vice chairman for Virginia affairs, was named cochairman.

The leadership team is made up of two top businessmen from both Washington and Baltimore. Butta is vice president of C&P Telephone Co. and Foster is vice president of Long & Foster Realtors.

The association was founded in 1979 by a group of businessmen from both metropolitan areas who saw the region as one economic market.

The group has been working to promote what it terms the "Baltimore-Washington Common Market."

"I remember my company didn't move across the river to begin business in D.C. until about 1976," said Foster.

"As we gradually grew out of Washington, we discovered Severna Park -- that's when someone said, 'You know, Baltimore is only about six miles up the road,' " he said.

Butta said that that's what the association is all about -- researching, defining and promoting the business resources of the common market.

Since its inception, the group has produced numerous studies to stimulate business growth within the metropolitan areas.

According to Butta, in the coming year, he will devote his time as chairman to two projects:

*Compiling a directory of engineering resources and educational oportunities that will give businesses a data base for high-tech endeavors. Butta said this is one step of the group's plan to reach the long-range goal of unifying the more than 65 higher-education facilities in the region.

*Focusing on transportation. The association is beginning a two-year study on the mobility of the work force between the two cities and has been involved with the Washington Council of Governments and the Baltimore Regional Planning Council to look at the possibility of more efficient transportation between the two cities.

Butta replaced Luther H. Hodges Jr., chairman and chief executive officer of the National Bank of Washington, who will serve on the executive committee.

Other officers elected at the meeting included: Stephen D. Harlan, managing partner of Peat, Marwick, Mitchell & Co., as vice chairman for the District and federal affairs; William C. Harris, president of the north region of the United Bank of Virginia, as vice chairman for Virginia affairs; and Thomas Owen, chairman of the board and chief executive officer of Perpetual American Bank, as treasurer.

Leslie B. Disharoon, chairman of the board and president of Monumental Corp., remains vice chairman for Maryland affairs, and James A. Flick Jr., managing partner of Ernst & Whinney, remains secretary.

The association is an alliance between the Greater Washington Board of Trade, the Maryland Economic Growth Associates and the Greater Baltimore Committee. BANKING, FINANCIAL SERVICES

The Export-Import Bank of the United States named Robert L. Charamella vice president for exporter insurance and Candelario Trujillo Jr. vice president of management information system. Charamella, the deputy vice president for exporter insurance since 1978, will replace Joseph R. Williams, who moved to special assistant to the senior vice president. Trujillo was formerly the chief of the computer services department for the Asian Development Bank in Manila.

James M. Cangiano was named director of marketing surveillance of the National Security Dealers Inc. Cangiano moved from assistant director of the NASD District No. 10 office and will replace Christopher R. Franke.

Edward H. Blum joined the Washington investment company, Ferris & Co. Inc., as director of corporate finance. Blum, formerly vice president and executive director in the Investment Banking Division of Merrill Lynch Capital Markets, will direct the firm's investment banking services.

Henry J. Knott Jr. was elected to the board of directors at the Harbor Bank of Maryland in Baltimore. Knott is president of three Baltimore companies: Henry J. Knott Development Co., Henry J. Knott Inc. and the Free State Management Co. He also serves on the First National Bank of Maryland board of directors and owns the Omni International Hotel in Baltimore. COMMUNICATIONS

The public relations firm of Ruder Finn & Rotman/Washington named James A. Crandall president to replace Walter Wurfel, who left the company to join the National Association of Broadcasters. Crandall came to RF&R from Daniel J. Edelman Inc., where he was senior vice president and deputy general manager of the Washington office.

John Gordley, former assistant to Senate Majority Leader Bob Dole (R-Kan.), will join Gray and Co. as vice president and director of the Agricultural Communications Group. Gordley had served on Dole's staff since 1981 and was responsible for agricultural and international trade issues.

David Cordova, former legislative assistant for military and foreign affairs for Dole, joined the Washington public relations firm of Daniel J. Edelman Inc. as vice president in the Washington office. Damian Housman was promoted from an account executive to account supervisor for the company's aerospace and defense department.

The National Telecommunications Network, a joint venture of regional fiber-optics companies, appointed Joel H. Maloff director of marketing. Maloff previously served as vice president and general manager of NCHE Telecommunications Network, a long-distance network and consulting organization in Fairfax.

C4 Media Corp., a cable television operating company in Vienna, added four employes to its staff: Bill Meacham, regional engineer for the mid-Atlantic region; Ralph H. Newton Jr., controller and treasurer; Paul Aines, manager of the newly created acquisition team, and Aggie Smith, assistant manager of the acquisition team.

Ronald F. Stowe, former vice president of government and commercial affairs for Satellite Business Systems of McLean, was named vice president of District operations for Pacific Telesis Group, a telecommunications holding company in San Francisco. INDUSTRIAL, MANUFACTURING

Andrew Daskalakis was named president and chief operating officer of Comdial Corp., a manufacturer of telephones and electronic-key telephone systems in Charlottesville, Va. Daskalakis left Cellular Telephone Co. of New York, where he was president and chief executive officer. INSURANCE

Uslico Corp. of Washington elected David W. Karsten and John J. Jaskot to executive vice presidents of the corporation's parent company, United Services Life. Karsten will retain the title of chief financial officer and Jaskot will head the company's newly formed regulatory and industry relations division. Charles V. Giuffra was elected president of Bankers Security Life Insurance Society, a New-York subsidiary company of Uslico Corp.

The Union Labor Life Insurance Co. of Washington elected Ole M. Berge to the executive committee of the board of directors. Berge is the president of the Brotherhood of Maintenance of Way Employes.

Atlantic Risk Management Corp., a construction-oriented insurance agency, promoted Bradley T. Senn from vice president to executive vice president and Edwin L. Lamont from account executive to assistant vice president. NON-PROFIT

Fairfax Opportunities Unlimited Inc., a corporation that employs more than 250 disabled persons to work as support staff for government and industry in Washington, elected Dallas Dawson vice president of the interstate division and Wesley Ferington president of the state division. PROFESSIONAL SERVICES

Sara Ringle, formerly with Arthur D. Little Inc. of Massachusetts, was named Director of Communications at ICF Inc., a professional and technical consulting firm in the District. RETAIL, WHOLESALE TRADE

Peoples Drug Stores announced the second group of top management changes: Frederick W. Edwards replaced David Eisenberg as senior vice president of marketing; William J. Eagleson replaced Robert Crichlow as senior vice president of distribution and merchandise control; Leonard J. DeMino moved to the newly created position of corporate vice president of pharmacy; and Joseph A. Pollard was named senior vice president of corporate relations and advertising.