Senate Finance to Hold March 15 Hearing on Impact of Russia's WTO Accession
The Senate Finance Committee will hold a hearing on March 15, 2011 on the implications of Russia's accession to the World Trade Organization on the U.S. The President, U.S. Trade Representative, and Committee Chairman Max Baucus (D-MT) have recently commented on this issue and called on Congress to terminate the application of the Jackson-Vanik amendment to Russia and extend permanent normal trade relations (PNTR) to the country so that U.S. companies can take advantage of Russia's WTO accession.
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According to various press reports, anti-government demonstrators in Russia have urged Congress to end the Jackson-Vanik trade restriction against Russia, which they state only helps current President Vladimir Putin. During a recent trip to Russia, Baucus met with democracy, human rights, anti-corruption and transparency activists, whom he stated all support Russian PNTR. Baucus stated these activists said PNTR would open Russia and promote competition, openness, and transparency.
(See ITT's Online Archives 12030123 and 12030832 for summaries of USTR Kirk's testimony at February 29 House Ways and Means Committee and March 7 Senate Finance Committee hearings on the President's 2012 trade agenda.)