FOR IMMEDIATE RELEASE
Friday. November 16, 2012
CONTACT OFFICE OF PUBLIC AFFAIRS
Today Acting Secretary of Commerce Rebecca Blank commended the House of Representatives on its bipartisan approval 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 those countries. In particular, establishing PNTR with Russia is a top priority for the Obama administration in order to ensure that U.S. companies are able to get the full benefits of Russia’s recent accession to the World Trade Organization (WTO).
“I applaud the House of Representatives for passing legislation to terminate application of the Jackson-Vanik Amendment to Russia and Moldova and authorize the president to establish permanent normal trade relations with those countries. This step moves us closer to ensuring America's businesses and workers receive the full benefits of Russia's accession to the WTO. Simply put: access to the Russian market means more U.S. exports, which means more American jobs. We look forward to speedy consideration of PNTR by the Senate to ensure that American companies will be able to take advantage of Russia’s growing market, and that our products and services will be able to compete on a level playing field.”