Senate Vote Gives Congressional Approval to Russia PNTR
The Senate gave its approval for legislation (HR-6156) Dec. 6 that would give Russia and Moldova Permanent Normal Trade Relations (PNTR) status. The Senate approval means the next step will be a signature from President Barack Obama. The House recently approved the bill, which would repeal the Jackson-Vanik amendment, which limits U.S. trade with communist countries.
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Obama signaled his plans to sign the legislation in a statement. "The legislation will ensure that American businesses and workers are able to take full advantage of the WTO rules and market access commitments that the United States worked so hard to negotiate," he said. "We are also one step closer to realizing job-creating export opportunities and leveling the playing field for American workers, farmers, ranchers, and service providers. My Administration will continue to work with Congress and our partners to support those seeking a free and democratic future for Russia and promote the rule of law and respect for human rights around the world."
Acting Commerce Secretary Rebecca Blank also said she was appreciative of congressional approval. "As American companies have greater access to the Russian market, U.S. exports are expected to increase, and more U.S. exports mean more American jobs," she said. " Moreover, this necessary step will further level the playing field for American workers and businesses, which is why the president has made passage of this bill a top legislative trade priority.” Her statement is (here).
Several trade groups voiced appreciation for the passage. “More and more Americans see trade as an engine of growth and jobs, and our elected officials increasingly recognize the need to tear down the barriers that shut U.S. products out of foreign markets," said the U.S. Chamber of Commerce. "We need to build on this progress. In the new year, the Chamber will work to support conclusion of a high-standard Trans-Pacific Partnership agreement, the early launch of negotiations for a trade pact with the European Union and an International Services Agreement, and restoration of the president’s traditional authority to negotiate trade agreements in close consultation with Congress.” Their press release is (here). Laudatory press releases from Business Roundtable (here) and National Foreign Trade Council (here) were issued.
(See ITT's Online Archives 12111619 for summary of the House vote on Russia PNTR.)