Normal Trade Relations with Russia Established

13 June 2012, at 8:26am

US - Legislation has been introduced to establish Permanent Normal Trade Relations with Russia.

Senator Max Baucus, along with Senators John Thune, John Kerry and John McCain, unveiled legislation this week that will allow US agriculture to participate in Russia’s upcoming World Trade Organisation membership.

“Russia PNTR is a critical step towards ensuring the US benefits from Russia’s accession to the WTO and remains competitive in that market,“ said AFBF President Bob Stallman.

“US farmers will have more certain and predictable market access as a result of Russia’s commitment not to raise tariffs on any products above the negotiated rates and to apply international food safety standards in a uniform and transparent manner.“

Long negotiations on Russia joining the WTO resulted in the country being able to enact many trade-related reforms. Russia is expected to complete the adoption of the measures and formally join the WTO this summer. PNTR for Russia must be enacted by Congress in order to guarantee US access to the market opening and legal aspects that are part of the Russia WTO agreement. Russia’s membership in the WTO will provide significant commercial opportunities for US agriculture.