FOR IMMEDIATE RELEASE
Thursday, December 6, 2012
CONTACT OFFICE OF PUBLIC AFFAIRS
Today Acting Secretary of Commerce Rebecca Blank applauded the United States Senate on its bipartisan passage of legislation that would terminate application of the Jackson-Vanik Amendment to Russia and Moldova and authorize President Obama to extend Permanent Normal Trade Relations (PNTR) treatment to both of those countries. Establishing PNTR with Russia has been a top priority for the Obama administration in order to ensure that U.S. companies, farmers, ranchers, and service providers are able to get the full benefits of Russia’s recent accession to the World Trade Organization (WTO). The legislation, passed by the House of Representatives in November, will now go to the president for his signature.
“I commend the Senate for passing legislation to authorize the president to establish Permanent Normal Trade Relations with Russia and Moldova and to terminate application of the Jackson-Vanik Amendment to those countries. This legislation, when enacted, will ensure that America's businesses and workers receive the full benefits of Russia's recent accession to the WTO. 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. 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.”