Business Community Urges Action on Russia PNTR in Lame Duck Session

More than 500 Entities Sign Letters to Congress and the President

WASHINGTON, Nov. 8, 2012 /PRNewswire-USNewswire/ -- More than 500 trade associations and businesses joining under the umbrella of the Coalition for U.S.-Russia Trade (www.usrussiatrade.org) called today on Congress to "move quickly" in the days ahead to approve legislation enacting Permanent Normal Trade Relations (PNTR) with Russia.  In a similar letter to President Barack Obama, the business coalition, which counts among its members groups as varied as the National Association of Manufacturers, the Securities Industry and Financial Markets Association (SIFMA), the Information Technology Industry Council (ITI) and the American Farm Bureau Federation, urged the President to work with Congress to ensure the passage of Russia's removal from the Jackson-Vanik legislation and establishment of PNTR with Russia.

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Russia joined the World Trade Organization back in August, and the Coalition points out that U.S. competitors in Europe, China and elsewhere are happy to "step in and take advantage of meeting Russia's needs not only in infrastructure and modernization of its industrial base, but also the demands of a growing consumer class that is highly educated and appreciates quality."  The Coalition suggests that until Congress passes Russia PNTR, U.S. executives will be relegated to an "observer" status as foreign competitors "snap up contracts that will lock in commercial relationships for years to come."

"The time for Congress to act is now," says the Coalition's Executive Director, Randi Levinas.  "We simply cannot afford to sit idly by and continue to put U.S. exports and jobs at risk when we know there is strong bipartisan support for this legislation in both chambers."

The Coalition for U.S.-Russia Trade is a broad-based group of  U.S. corporations, trade associations and small businesses actively seeking to increase U.S. exports and jobs with increased trade with Russia. The Coalition is committed to ensuring the enactment of Permanent Normal Trade Relations with Russia in order to preserve the competitiveness of U.S. firms, farmers and workers in the Russian market. The Coalition is housed at the U.S.-Russia Business Council (www.usrbc.org) which serves as the Secretariat for the Coalition.  For more information, please visit the Coalition's website at www.usrussiatrade.org.

SOURCE Coalition for U.S.-Russia Trade