USRBC and Business Coalition Hail Unanimous Senate Committee Support on Russia PNTR
Finance Committee Votes 24-0 to Enable U.S. Firms to Access Russian Market
WASHINGTON, July 19, 2012 /PRNewswire-USNewswire/ -- The U.S.-Russia Business Council (www.usrbc.org) and the Coalition for U.S.-Russia Trade (www.usrussiatrade.org) hailed the Senate Finance Committee's overwhelming show of bipartisan support (in a unanimous vote of 24-0) for legislation to enact Permanent Normal Trade Relations (PNTR) with Russia, a measure that is essential in order for U.S. manufacturers, service providers, farmers, and workers to access opportunities and defend their rights in Russia's $400 billion import market as it enters the World Trade Organization (WTO).
"With Russia poised to join the WTO in a matter of days, the Senate Finance Committee's rock solid endorsement of this legislation is a critical step forward towards ensuring that U.S. interests are protected in Russia's market," said USRBC President Ed Verona. "We salute Chairman Baucus and Ranking Member Hatch for their leadership in moving a measure that garnered such broad bipartisan support. With today's vote, each and every Member of the Committee stood up for U.S. manufacturers, service providers, farmers, and workers to enable them to access opportunities in Russia's market under the same rules and conditions as our foreign competitors."
USRBC and the Coalition are concerned about U.S. businesses losing opportunities in the Russian market to foreign competitors unless Congress acts in a timely fashion to approve the Russia PNTR legislation. "We have been working tirelessly, organizing hundreds of meetings on Capitol Hill with Members of both parties and both Chambers, and we will continue to press forward," said Mr. Verona. "Time is of the essence as we now seek action in the House of Representatives and final passage of Russia PNTR by the August recess."
The U.S.-Russia Business Council (USRBC) represents the interests of its 250 U.S. and Russian member companies, providing business development and government relations support in both Moscow and Washington. The USRBC contributes to the stability and development of a free market in Russia and supports Russia's integration into the global economy. It also serves as the Secretariat for the Coalition for U.S.-Russia Trade. For more information, visit the USRBC online at: www.usrbc.org.
The Coalition for U.S.-Russia Trade is a broad-based group of approximately 150 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. For more information, please visit the Coalition's website at www.usrussiatrade.org.
July/August 2012
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10 DAYS LEFT TO ENACT RUSSIA PNTR AND ENSURE U.S. COMPETITIVENESS
SOURCE U.S.-Russia Business Council and Coalition for U.S.-Russia Trade
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