Nov 10, 2006: AmCham Russia President's Statement on U.S.-Russia Bi-lateral Agreement on WTO

AmCham Russia President's Statement

on U.S.-Russia bi-lateral Agreement on WTO

The announcement by USTR and the Ministry of Economic Development and Trade that an agreement in principle has been reached between the U.S. and the Russian Federation on Russia's accession to the WTO is a major positive milestone in the relations between our two countries.  The anticipated signing of this agreement in Hanoi next week will be a legacy of the two presidents and a testament to their leadership in bringing our two countries closer together through economic engagement.  This accord reflects a strong commercial agreement that will be of benefit to both our countries and should contribute to expansion of bi-lateral commerce and trade. 

After the anticipated signing of the bi-lateral agreement, the next stage will be the multilateral negotiations among WTO member countries to finalize Russia's accession.  We understand this final stage will take 3-4 months, at the end of which Russia will formally accede to the WTO.

The American Chamber of Commerce in Russia has been and remains a strong supporter of Russia’s accession into the WTO, and will direct its efforts at the appropriate time to advocate repeal of the anachronistic Jackson-Vanik amendment and thereby grant Russia Permanent Normal Trade Relations status required of the U.S. government by WTO rules.

Andrew B. Somers

President

American Chamber of Commerce in Russia

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