Category: Press Releases and Statements

Business Community Urges Action on Russia PNTR in Lame Duck Session

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More than 500 Entities Sign Letters to Congress and the President

Washington, DC – More than 500 trade associations and businesses joining under the umbrella of the Coalition for U.S.-Russia Trade (www.usrussiatrade.org) called today on Congress to “move quickly” in the days ahead to approve legislation enacting Permanent Normal Trade Relations (PNTR) with Russia. In a similar letter to President Barack Obama, the business coalition, which counts among its members groups as varied as the National Association of Manufacturers, the Securities Industry and Financial Markets Association (SIFMA), the Information Technology Industry Council (ITI) and the American Farm Bureau Federation, urged the President to work with Congress to ensure the passage of Russia’s removal from the Jackson-Vanik legislation and establishment of PNTR with Russia.
Russia joined the World Trade Organization back in August, and the Coalition points out that U.S. competitors in Europe, China and elsewhere are happy to “step in and take advantage of meeting Russia’s needs not only in infrastructure and modernization of its industrial base, but also the demands of a growing consumer class that is highly educated and appreciates quality.” The Coalition suggests that until Congress passes Russia PNTR, U.S. executives will be relegated to an “observer” status as foreign competitors “snap up contracts that will lock in commercial relationships for years to come.”

“The time for Congress to act is now,” says the Coalition’s Executive Director, Randi Levinas. “We simply cannot afford to sit idly by and continue to put U.S. exports and jobs at risk when we know there is strong bipartisan support for this legislation in both chambers.”
 

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About the Coalition for U.S.-Russia Trade
The Coalition for U.S.-Russia Trade is a broad-based group of 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. The Coalition is housed at the U.S.-Russia Business Council (www.usrbc.org) which serves as the Secretariat for the Coalition. For more information, please visit the Coalition’s website at www.usrussiatrade.org.
 
 

About the NFTC
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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NFTC Welcomes Announcement of U.S.-Panama FTA Implementation Date

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Washington DC – The National Foreign Trade Council (NFTC) today applauded the U.S. and Panamanian governments for working together to achieve agreement on an October 31 implementation date for the U.S.-Panama Free Trade Agreement (FTA).

“We welcome today’s announcement that the U.S.-Panama FTA will enter into force next Wednesday,” said NFTC President Bill Reinsch. “Similar to the FTAs with Colombia and South Korea, which were implemented earlier this year, implementation of the Panamanian agreement will help to grow the U.S. economy and support American jobs by increasing exports and expanding opportunities for American companies, farmers and ranchers.”

“Panama is an important market for U.S. goods and services, and American exporters, both large and small, stand to benefit from the FTA,” said NFTC Vice President for Regional Trade Issues Chuck Dittrich. “The agreement’s entry into force will further strengthen the longstanding economic relationship between our two countries – a relationship particularly important to the United States – both because of Panama’s growing economy and because the Panama Canal serves as a gateway to other leading economies in the region.”

 

About the NFTC
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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NFTC Joins With Leading Business Associations in Launching New Website, Investment Policy Central

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Washington DC– Today, the National Foreign Trade Council (NFTC) joined with six other business associations to launch a new online information clearinghouse, Investment Policy Central, to highlight the importance of an open investment climate.

“The NFTC is pleased to be a part of this effort, which is aimed at raising awareness and understanding of the key role foreign investment plays in growing the U.S. economy and supporting American jobs,” said NFTC President Bill Reinsch. “Open, rules-based global trade and investment not only benefit large U.S. companies and workers, but also the many small- and medium-sized U.S. businesses throughout the supply chain and the thousands of Americans they employ.”

Investment Policy Central will be a center of excellence for the most accurate, up-to-date information on the benefits of an open international investment climate. It presents facts and figures on investment, highlights the benefits of global investment, debunks common investment myths, and provides links to a wide range of resources on investment policy.

Investment Policy Central will continually add timely, relevant content to the site from experts on investment policy and welcomes suggestions and input from companies, associations, organizations, think tanks, and academics and other individuals interested in promoting an open international investment climate.

“It is our hope that Investment Policy Central will serve as a valuable resource for policymakers and thought leaders interested in learning more about the many ways in which foreign investment contributes to the American economy,” said Reinsch.

Investment Policy Central may be found at www.investmentpolicycentral.com.

About the NFTC
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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NFTC and USA*Engage Release 112th Congressional Report Card on International Trade Issues

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Members Receive High Grades for Enacting Trade Legislation Despite Lack of Action on Other Global Commerce Issues Critical to U.S. Business

Washington, DC – The National Foreign Trade Council (NFTC) and USA*Engage today released their 112th Congressional Report Card, scoring Members of Congress based on their votes on key international trade and engagement issues in 2011 and 2012. Unlike the 111th Congress, which collectively received an “incomplete” due to a lack of positive action, the 112th Congress received positive scores – 64 percent of Senators and 43 percent of Representatives received an A or B – for enacting trade legislation critical to U.S. economic growth and job creation. While the House and Senate enacted several important bills, most of them involved either long-pending free trade agreements or reauthorization of existing programs. Congress did not take up any new major trade initiatives.

“Compared to the 111th Congress, the 112th has made significant strides on the trade front over the past two years,” said NFTC President and USA*Engage Co-Chair Bill Reinsch. “Important legislation that had been stalled for more than four years – including the free trade agreements with Colombia, Korea and Panama – was enacted, illustrating that this Congress worked together in a bipartisan manner to advance the U.S. trade agenda, helping to boost U.S. economic growth, increase exports and support American job creation.”

The Report Card scored Senators on eight votes, including:

  • China Currency Bill: S. 1619, Currency Exchange Rate Oversight Reform Act of 2011 (On Passage of the Bill)
  • U.S.-Colombia FTA: H.R. 3078, United States-Colombia Trade Promotion Agreement Implementation Act
  • U.S.-Korea FTA: H.R. 3080, United States-Korea Free Trade Agreement Implementation Act
  • U.S.-Panama FTA: H.R. 3079, United States-Panama Trade Promotion Agreement Implementation Act
  • Trade Adjustment Assistance: H.R. 2832, Trade Adjustment Assistance Extension Act of 2011
  • Export-Import Act: H.R. 2072, Export-Import Bank Reauthorization Act of 2012
  • Sugar Program Reform Amendment: Amdt. 2433 to S. 3240, Agriculture Reform, Food, and Jobs Act of 2012
  • Sugar Program Repeal Amendment: Amdt. 2393 to S. 3240, Agriculture Reform, Food, and Jobs Act of 2012

     

The highest scorers in the Senate included Sens. John Boozman (R-AR), Dan Coats (R-IN), Dean Heller (R-NV) and Richard G. Lugar (R-IN).

With respect to Members of the House, votes on the following pieces of legislation were considered:

  • U.S.-Colombia FTA: H.R. 3078, United States-Colombia Trade Promotion Agreement Implementation Act
  • U.S.-Korea FTA: H.R. 3080, United States-Korea Free Trade Agreement Implementation Act
  • U.S.-Panama FTA: H.R. 3079, United States-Panama Trade Promotion Agreement Implementation Act
  • Trade Adjustment Assistance: H.R. 2832, Trade Adjustment Assistance Extension Act of 2011
  • Motion to Recommit H.R. 3078: On Motion to Recommit with Instructions: To implement the United States-Colombia Trade Promotion Agreement
  • Iran Sanctions: H.R. 1905, To strengthen Iran sanctions laws for the purpose of compelling Iran to abandon its pursuit of nuclear weapons and other threatening activities, and for other purposes
  • Export-Import Act: H.R. 2072, Securing American Jobs Through Exports Act of 2011 (On Motion to Suspend the Rules and Pass, as Amended)
  • H.R. 6429: To amend the Immigration and Nationality Act to promote innovation, investment, and research in the United States, to eliminate the diversity immigrant program, and for other purposes (On Motion to Suspend the Rules and Pass)

Top scorers included Reps. Bob Dold (R-IL), Doc Hastings (D-WA), Jared Polis (D-CO) and Harold Rogers (R-KY).

“While there were a number of positive trade-related votes, we are disappointed that there has been no action on final approval of legislation granting Russia permanent normal trade relations (PNTR),” Reinsch continued. “We continue to strongly urge Congress to take action on Russia PNTR immediately when Members return to Washington in November, and we look forward to what should be a heavy trade agenda in 2013.”

Today’s Report Card is being released as an interim report. A final report will be released at the end of the congressional session.

Please click here to read the 112th Congressional Report Card. For more information, visit www.nftc.org and www.usaengage.org.

*NOTE: If you would like additional commentary or an opportunity to speak with NFTC President Bill Reinsch, NFTC Vice President Dan O’Flaherty or USA*Engage Director Richard Sawaya about the Report Card, please contact Jennifer Cummings at 202-822-9491.

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About USA*Engage
USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policy-makers, opinion-leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy world wide.

About the NFTC
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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Rep. Dreier Calls for Action on Russia PNTR, Cross-Border Data Flows During Keynote Address at NFTC’s 98th Annual World Trade Dinner House Rules Committee Chairman Honored with 2012 World Trade Award

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Washington DC – In a keynote address delivered during last night’s National Foreign Trade Council (NFTC) Foundation World Trade Dinner and Award Ceremony, Representative David Dreier (R-CA), Chairman of the House Rules Committee, issued a call to action for congressional passage of legislation that would establish permanent normal trade relations (PNTR) with Russia. Rep. Dreier also highlighted the importance of addressing 21st century global trade challenges, including cross-border data flows.

During his remarks, Chairman Dreier stated:

“We have a really very, very important opportunity to now do what we should have done before August 22, which is when Russia was able to join the World Trade Organization, and ensure that U.S. businesses and workers can have access to the 140 million consumers in Russia. And, we need to get that done just as quickly as we possibly can.

“… As we look at where we’re going on the trade issue … we need to have a 21st century vision … The prime issue that needs to be addressed is the issue of cross-border data flows. … There are countries that unfortunately are utilizing it to jeopardize what I describe as the interdependence between political and economic globalization. That needs to be something that we will consistently push.

“… Even though I am going to be leaving Congress in January this year, I will remain dedicated and passionate … about the necessity for us to break down these barriers to encourage the free flow of goods, services, capital, ideas and people as well.”

Prior to delivering his remarks, Chairman Dreier was honored with the NFTC Foundation’s 2012 World Trade Award for his leadership in promoting the benefits of open trade and investment.

“During his more than 30-year tenure on Capitol Hill, Chairman Dreier has been a steadfast champion of international trade and engagement,” said NFTC President Bill Reinsch. “He understands the importance of advancing the U.S. trade agenda to ensure that U.S. businesses and the millions of Americans they employ can compete on a level playing field. We are pleased to have this opportunity to honor his public service and leadership on these critical issues.”

The World Trade Award was established in 1937 by the Dollar family of San Francisco in memory of Captain Robert Dollar, a pioneer in American shipping and world trade and a charter member of the NFTC. In 1938, Cordell Hull, then-Secretary of State, was the first recipient of the Award.

Last night’s NFTC Foundation dinner was held at the Organization of American States. The event was widely attended by policymakers, members of the business community, ambassadors and embassy officials from a number of countries, including Colombia, Egypt, Mexico, New Zealand, Panama, Vietnam, among many others.

About the NFTC Foundation:
Incorporated in 1979, the National Foreign Trade Council Foundation is the educational arm of the NFTC (www.nftc.org). It is a 501(c)(3) organization incorporated under the laws of the state of New York. The NFTC Foundation’s mission is to inspire, encourage and facilitate international trade and investment in order to enhance economic growth and job creation throughout the world.

 

About the NFTC
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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NFTC Disappointed by Inaction on PNTR Legislation, Urges Immediate Passage When Congress Reconvenes in November

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Washington DC – The National Foreign Trade Council (NFTC) today expressed disappointment with Congress’ inaction on legislation that would establish permanent normal trade relations (PNTR) with Russia, and called on Congress to pass PNTR immediately upon returning to Washington in November. The NFTC released the following statement.

“Russia has now been a member of the WTO for nearly a month, and in this time, U.S. competitors – not the United States – have been reaping the benefits of its membership. Granting Russia PNTR is an important step toward ensuring U.S. exporters and workers are able to compete on a level playing field in the Russian market.

“We are disappointed that Congress has again kicked the can down the road on a piece of legislation that will help grow the economy and create jobs through increased exports. The United States cannot afford yet another delay.

“We strongly urge House and Senate leaders to work together to bring the PNTR bill to the floor as soon as possible during the ‘lame duck’ session.

“The NFTC also understands policymakers’ interest in addressing legitimate human rights concerns as part of the PNTR legislation. However, it is critical that the scope of this provision be limited to Russian persons.”

 

 

 
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About the NFTC
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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