U.S. Companies Back Increased Trade With Russia

Stress benefits for American workers, economy

WASHINGTON, March 20, 2012 /PRNewswire-USNewswire/ -- The American Chamber of Commerce in Russia (AmCham), representing more than 700 American companies, including GE, GM, Ford, and most of the Fortune 500, is urging Congress to remove legislative roadblocks to increased trade with Russia, enabling the U.S. to compete more effectively with other countries in this fast-growing market and to boost American jobs.   

Specifically, the American businessmen want Congress to repeal the outdated Jackson-Vanik Amendment and grant Russia Permanent Normal Trade Relations (PNTR), as required by the World Trade Organization.

"The vote to accord PNTR to Russia is about the ability of American companies to compete on a level playing field with foreign companies eager to do business in the fast-growing Russian economy. This presents great opportunities. I urge Congress to let the American economy and American workers reap the benefits of these opportunities," said Ronald J. Pollett, President and CEO of GE Russia, in comments to the Senate Finance Committee.  Pollett is also chairman of the board of directors of AmCham.

A delegation of American business leaders in Russia will visit members of Congress at the end of March to stress the importance to the U.S. of granting PNTR.  The delegation will be led by AmCham president and chief executive Andrew Somers.

Reinforcing Pollett's comments to the Senate Finance Committee, Somers stressed that "questions regarding PNTR for Russia and the Jackson-Vanik Amendment are purely and simply trade issues that affect American jobs and exports and America's global competitiveness."  

SOURCE American Chamber of Commerce in Russia