U.S. Rep Gregory W. Meeks Statement on the World Trade Organization (WTO) Granting Membership to the Russian Federation

U.S. Rep Gregory W. Meeks Statement on the World Trade Organization (WTO) Granting Membership to the Russian Federation

Excerpt: Russia’s entry into the World Trade Organization (WTO) creates a momentous occasion for U.S. business and investors, but the ability of American business’ to take advantage of Russia’s WTO membership depends on the American government authorizing permanent, normal trade relations status for Russia.

(WASHINGTON, DC) – Congressman Gregory W. Meeks (D-NY), senior member of the House Financial Services Committee, Foreign Affairs Committee and Co-Chair of bipartisan Caucus on U.S.- Russian Trade and Economic Relations released a statement on the World Trade Organization (WTO) extended membership to the Russian Federation:

Today, the World Trade Organization (WTO) extended membership to the Russian Federation. Russia’s membership will open that country’s $1.9-trillion economy to preferential trade regimes with other WTO members. This means much improved access to Russian markets for U.S. goods. In other words, it means jobs, jobs, and more jobs as the ranks of U.S. labor swell to meet the demand of Russian consumers for American services, and manufactured goods – jobs in the factories and offices, jobs at the airports, jobs in financial services, jobs in agriculture.

“Russia’s entry into WTO creates a momentous occasion for U.S. business and investors, but the ability of American business’ to take advantage of Russia’s WTO membership depends on the American government authorizing permanent, normal trade relations status for Russia. Earlier this year, in the House of Representatives, I launched the bipartisan Caucus on U.S.-Russian Trade and Economic Relations in order to inform my colleagues and myself about Russia’s anticipated WTO accession and to explore potential opportunities for our constituents. Over the next few months, we will continue this discussion, carefully considering the views of business, industry, and labor, and looking for ways to explore advantages that WTO offers and to expand and protect U.S. interests.

“I commend the dedicated negotiators from Russia, the United States, and many other nations who worked out the terms and conditions that allowed Russia to join the WTO and I commit myself to ensuring that Americans benefit.” [End]