Political Quotes

“Madam President, today I wish to express my support for legislation granting permanent normal trade relations, PNTR, to Russia. We need to act now so that our exporters can take advantage of Russia's accession to the World Trade Organization, WTO, in August. The House voted to approve PNTR for Russia on November 16th on a 365- 43 vote. The Senate Finance Committee approved its version of the bill on a 24-0 vote in July. The legislation enjoys widespread support among manufacturers, service providers, and farmers. It has been endorsed by, among others, the U.S. Chamber of Commerce, the National Association of Manufacturers, and the American Farm Bureau. As a part of joining the WTO, Russia negotiated agreements with each member, including the United States, making commitments to eliminate non-tariff barriers, protect intellectual property, liberalize key sectors such as services, and improve its business climate. For example, Russia agreed to: lower tariffs on industrial products from an average rate of 10 percent to 7 percent; not raise tariffs on 90 percent of agricultural products and keep them at 15 percent or lower; join the WTO Information Technology Agreement and eliminate tariffs on major IT products within 3 years; abide by WTO rules on enforcement of intellectual property rights; and remove limitations on foreign equity in telecommunications companies, insurance companies, banks, and wholesale and retail enterprises.…”