November 14, 2011
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11.11.2011

USRBC to work with Congress, Administration to lift Jackson-Vanik as Russia joins WTO

The U.S.-Russia Business Council stated that it would work hard to lift  the Jackson Venik amendment, as the country joins WTO.

To ensure that U.S. firms enjoy the full benefits of Russia's accession, it will be necessary for the U.S. Congress to lift the Jackson-Vanik amendment with respect to Russia and authorize the President to extend Permanent Normal Trade Relations (PNTR) to Russia, USRBC President Edward Verona said in the statement Thuersday.

"The USRBC, which leads the Coalition for U.S.-Russia Trade, looks forward to working with the Administration, members of Congress, the broader business community and other stakeholders to ensure that this is accomplished at the earliest opportunity. We need to keep opportunities for U.S. interests on par with those that our European and Asian competitors will enjoy,"  Verona added

"Russia is an important market for many U.S. companies and WTO accession will help enhance the U.S.-Russia commercial relationship," added Klaus Kleinfeld, USRBC Chairman and Chairman and CEO of Alcoa, Inc.

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. 

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