Manufacturers: Russia PNTR Legislation Will Boost Jobs
Russian Market Provides Manufacturers a New Opportunity for Exports
Today the National Association of Manufacturers (NAM) sent a Key Vote letter to members of the House of Representatives urging passage of the Russia and Moldova Jackson-Vanik Repeal Act (H.R. 6156). This legislation will grant the United States Permanent Normal Trade Relations (PNTR) with Russia to grow U.S. exports and secure market access to help create American jobs.
“It is time for Congress to pass PNTR legislation so manufacturers can fully enjoy the new opportunities and legal protections from Russia’s World Trade Organization (WTO) membership,” said Intel Director of Global Trade Policy and NAM International Trade Policy Subcommittee Chairman Greg Slater. “This bipartisan legislation will put us on an even playing field with one of the largest emerging markets in the world and help us continue to grow exports. Russia’s WTO membership became official nearly three months ago, and manufacturers in the United States can no longer afford to sit on the sidelines and fall further behind in this growing market.”
“Last year less than 5 percent of Russian imports were U.S. goods; this illustrates the significant opportunity to increase exports to Russia with passage of PNTR legislation,” said NAM Senior Vice President of Policy and Government Relations Aric Newhouse. “According to the President’s Export Council, U.S. exports to Russia could double in the next five years with PNTR in place. The House has an opportunity to pass PNTR legislation, which will support jobs and provide important intellectual property protections. Russia already has full access to the U.S. market, so failure to pass PNTR legislation will only hurt American manufacturing workers.”