Tuesday, May 29, 2012

Granting Russia PNTR

Granting Russia permanent normal trade relations (PNTR) status requires a change in law
because Russia is prohibited from receiving unconditional and permanent NTR under Title IV of the Trade Act of 1974.

The change would likely occur in the form of legislation to eliminate the application of Title IV to trade with Russia. Title IV includes the Jackson-Vanik amendment. Extension of PNTR has implications for Russia’s accession to the World Trade Organization (WTO). The WTO requires its members to extend immediate and unconditional nondiscriminatory treatment to the goods and services of all other members. As a result, the United States invoked “non-application” of WTO rules to its trade relationship with Russia.

The process for Russia’s accession has been completed. As a result, Members of the 112th Congress confront the issue of whether to grant Russia permanent normal trade relations (PNTR).

The Chamber has a long history of support for trade liberalization and free and fair trade practices.  In continuing that advocacy, the Chamber has joined with other Washington State businesses and business organizations encouraging the granting of PNTR to Russia.

(Click on the image for a larger view.)

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