Today, Acting Secretary of Commerce Dr. Rebecca Blank applauded the Senate’s introduction of a bill to authorize the President to establish permanent normal trade relations (PNTR) with Russia. This bill, which would also terminate application of the Jackson-Vanik Amendment to Russia, will ensure that U.S. companies can take full advantage of Russia’s approaching membership in the World Trade Organization (WTO).
"We welcome the Senate’s introduction of this legislation. Now that Russia is entering the WTO, the benefits of PNTR with Russia are clear and compelling for American companies. This Senate bill will help American manufacturers, farmers, and service firms compete on a level playing field in the growing Russian market, increase exports, and support well-paying American jobs. We look forward to working with Congress on the successful and timely passage of these necessary measures."
Source: U.S. Department of Commerce
