Business Leaders Want Normal Trade Relations With Russia

Wednesday, 22 August 2012
CNN

As Russia finally joins the World Trade Organization, U.S. business leaders are warning Congress that American companies could be left in the dust as other countries move in to take advantage of Russia's lower trade barriers.

... The National Foreign Trade Council (NFTC) joined the Chamber of Commerce Wednesday in calling on Congress to pass PNTR legislation immediately upon returning to Washington following the August recess.

"Now that Russia has acceded to the WTO, the United States has an opportunity to become a bigger economic player in one of the fastest-growing economies in the world - but only if Congress passes PNTR legislation," said NFTC President Bill Reinsch.

"If Congress does not act quickly, American companies, exporters and workers will be at a competitive disadvantage in the Russian market....Granting permanent normal trade relations is not a favor to Russia, instead it is necessary step to help stimulate U.S. economic growth and job creation by expanding trade with the world's ninth-largest economy. The U.S. cannot afford to miss out on this opportunity," said NFTC Vice President Dan O'Flaherty.

Click here to read the full article.