Friday, December 7, 2012

US Takes Another Step Towards Normal Trade Relations with Russia

On Thursday, the United States Senate passed H.R. 6156, which terminates the application of the Jackson-Vanik Amendment to Russia and Moldova and authorizes the President to extend Permanent Normal Trade Relations (PNTR) to both countries. In welcoming the passage of the bill, the U.S. State Department had the following to say: 

"The passage of this bill will allow American businesses to reap the same economic opportunities in Russia’s markets that other World Trade Organization members receive, resulting in greater access for American workers, companies, farmers, ranchers, and service providers and the creation of more American jobs.  We share Congress’ goals of promoting respect for human rights in Russia, and consider democracy, human rights, and civil society to be important components of our relationship with the Russian government and the Russian people. We also support Moldova’s ongoing reform efforts and its aspirations for further integration into European institutions."

This move was necessary to fully effectuate Russia's recent accession to the WTO last summer.


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