U.S. Trade Representative Ron Kirk signified the signing by President Obama of H.R. 6156, the Russia and Moldova Jackson-Vanik Repeal and Sergei Magnitsky Rule of Law and Accountability Act of 2012, which authorizes the establishment of permanent normal trade relations with Russia and Moldova. This step will allow the United States to apply the World Trade Organization (WTO) agreement to Russia, enabling U.S. manufacturers to access the growing Russian market and offering new, job-supporting trade opportunities for U.S. businesses.
“The United States strongly supported Russia’s accession to the WTO, because it is in the interest of our exporters and the Americans they employ to bring Russia more fully into the global trading system,” stated Ambassador Kirk. “With the signing of this legislation, American businesses and workers are closer to enjoying the full economic benefits of Russia’s WTO commitments.”
The National Association of Manufacturers (NAM) applauded the move. “As the ninth largest economy in the world, the Russian market presents a great opportunity to grow exports,” said Jay Timmons, NAM President and CEO.
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