Manufacturers: Russia PNTR legislation will boost exports
NAM urges Congress to act on legislation to help create jobs
Washington, D.C., June 12, 2012 – National Association of Manufacturers (NAM) Vice President for International Economic Affairs Frank Vargo issued this statement on the introduction of Russia Permanent Normal Trade Relations (PNTR) legislation in the Senate by Sens. Baucus (D-MT), Kerry (D-MA), Thune (R-SD) and McCain (R-AZ):
“If Congress fails to act on Russia PNTR legislation, we will be left on the sidelines, and our competitors will have an advantage in the $300 billion Russian import market. Our economy is stalling, and manufacturers are looking to Washington for policies to keep them competitive in the global marketplace and to create jobs.
We must do more to increase exports, and this bipartisan legislation is a positive step toward opening a new market in Russia for U.S.-manufactured goods exports. We urge Congress to move forward with passing this legislation as soon as possible as Russia is set to join the WTO in August.
Russia presents a tremendous opportunity for exports as the President’s Export Council estimates that U.S. exports to Russia could double or triple over the next few years. But in order to realize these gains and create manufacturing jobs, Congress must act.”