Chamber Urges Approval of PNTR as Russia Joins WTO

“By standing still on trade, America risks being left behind once again,” Says Donohue

WASHINGTON, D.C. — U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement calling for Congress to approve Permanent Normal Trade Relations (PNTR) with Russia as it became the 156th member of the World Trade Organization (WTO) today:

“Russia’s accession to the WTO is welcome news, and more than 150 countries will benefit as Russia today enacts reforms to open its market, protect intellectual property, and strengthen the rule of law.

“The whole world is ready — except the United States. Until Congress approves PNTR with Russia, Moscow will be free to deny the United States the full benefits of its reforms.

“By standing still on trade, America risks being left behind once again. Because of our inaction on PNTR, European and Asian companies have won a head start in the Russian market.

“PNTR exclusively benefits Americans selling their goods and services in the Russian market. The United States gives up nothing — not a single tariff — in approving it. It’s a true jobs bill, and won’t cost taxpayers one penny.”

As the Chamber’s PNTR Primer explains, Russia is the last major world economy to join the WTO. The President’s Export Council estimates that U.S. exports of goods and services to Russia—which reached an estimated $11 billion in 2011—could double or triple once Russia joins the WTO.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.