Senate Passes US-Russia PNTR StatusPublished by on
On December 6th, the Senate passed the Russia and Moldova Jackson-Vanik Repeal Act of 2012, allowing bipartisian legislation to grant permanent normal trade (PNTR status) to Russia and Moldova.
ASA asks President Barack Obama to swiftly sign the bill into law to graduate Russia from the Jackson-Vanik Amendment to the Trade Act of 1974 and establish permanent normal trade relations (PNTR) with the world’s ninth-largest economy.
As part of its accession to the WTO, Russia will be obligated to bind its agricultural tariffs, adding more predictability to the trading relationship and opening export opportunities for the U.S. agricultural industry. WTO membership will also require Russia to adhere to internationally-recognized scientific standards when regulating meat imports, thereby ensuring greater predictability for U.S. exporters seeking to supply the Russian consumer market.