Washington, DC – The National Foreign Trade Council (NFTC) today applauded the U.S. Senate for approving legislation establishing permanent normal trade relations (PNTR) with Russia.
"We welcome today's news and applaud the Senate for voting to approve Russia PNTR, an action essential to increasing U.S. exports, growing the U.S. economy and supporting American job creation," said NFTC President Bill Reinsch. "We also applaud the bipartisan leadership of the Senate Finance Committee and House Ways and Means Committee for working together to get the bill passed this year."
"With today's vote, U.S. exporters and service providers now have an opportunity to compete on a level playing field in one of the world's largest expanding markets and to reap the benefits of Russia's membership in the WTO," said NFTC Vice President Dan O'Flaherty. "We urge the President to sign the bill into law without delay."
"While we are very pleased with the outcome of today's vote and we recognize legitimate human rights concerns, we are disappointed that the language included in the bill aimed at addressing those concerns does not include a sunset provision, which will effectively continue the sanctions even if they become unnecessary," said O'Flaherty.
Advancing Global Commerce for Nearly A Century- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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