Move will open up trade between two countries
President Barack Obama has granted permanent normal trade relations to Russia, on the heels of the U.S. Congress passing the Russia and Moldova Jackson-Vanik Repeal Act of 2012, which rescinds legislation that has been called a roadblock to the U.S. taking full advantage of Russia’s accession to the World Trade Organization.
The American Feed Industry Association was part of the Coalition for U.S.-Russian Trade, and supports the action by both houses of Congress and the President.
The World Trade Organization requires its members to extend immediate and unconditional non-discriminatory treatment to the goods and services of all other members. Without permanent normal trade relations, U.S. exporters would only receive minimal benefits from Russia’s accession to the World Trade Organization. By granting Russia permanent normal trade relations, U.S. exporters will have access to the Russian market on the same terms as foreign competitors.