Statement by Acting U.S. Commerce Secretary on Russia Joining the WTO

Washington, D.C.

I commend Russia for becoming a member of the World Trade Organization (WTO) today, as the country brings its over 140 million consumers and a $1.8-trillion economy into the global rules-based trading system. Now that Russia is a member of the WTO, Congress should act to terminate the application of the Jackson-Vanik Amendment to Russia and authorize the establishment of permanent normal trade relations with Russia. These actions will give American businesses greater access to and protections within Russia’s growing economy, and help U.S. businesses, farmers, ranchers and workers compete on a level playing field with companies from other WTO-member countries. This will increase U.S. exports, strengthen our economy, and create thousands of American jobs. The Obama Administration is committed to working with Congress to pass this legislation so that American businesses can enjoy the same benefits in Russia’s market that our foreign competitors now have.

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