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CHAMBER OF COMMERCE

OF THE

UNITED STATES OF AMERICA


R. BR U C E J O S T E N
EXECUTIVE VICE PRESIDENT GOVERNMENT AFFAIRS

1615 H STREET, N.W. WASHINGTON, D.C. 20062-2000 202/463-5310

July 25, 2012

The Honorable Dave Camp Chairman Committee on Ways and Means U.S. House of Representatives Washington, DC 20515 Dear Chairman Camp and Ranking Member Levin:

The Honorable Sander Levin Ranking Member Committee on Ways and Means U.S. House of Representatives Washington, DC 20515

The U.S. Chamber of Commerce, the worlds largest business federation representing the interests of more than three million businesses and organizations of every size, sector, and region, applauds your recent introduction of H.R. 6156, The Russia and Moldova Jackson-Vanik Repeal Act of 2012, which would establish Permanent Normal Trade Relations (PNTR) with Russia and Moldova. The Chamber urges the Members of the House Committee on Ways and Means to favorably report this legislation when you meet to mark it up on Thursday, July 26, and to oppose any amendments. Russia will join the World Trade Organization (WTO) on August 22, 2012. To reach this goal, Moscow was required to implement a far-reaching package of legal and regulatory changes that will further open its market to imports, safeguard intellectual property, and ensure greater respect for the rule of law. The result will be more U.S. exports and more American jobs. U.S. companies see huge potential in Russia, which boasts the ninth largest economy in the world and a growing middle class. Of the top 15 U.S. trading partners, Russia was the market where American companies enjoyed the fastest export growth last year (38 percent). However, the United States wont get the full benefits of Russias market-opening reforms unless Congress approves legislation establishing PNTR with Russia. Contrary to popular misconception, PNTR does not extend any trade preferences to Russia; rather, it exclusively benefits U.S. workers, farmers, ranchers, and companies selling their goods and services in the Russian market. The United States gives up nothingnot a single tariffin approving PNTR. The legislation in question will also graduate Russia from the Jackson-Vanik amendment to the Trade Act of 1974, which was devised to press the Soviet Union to allow emigration of Soviet Jews, prisoners of conscience, and victims of religious persecution. With respect to Russia, Jackson-Vanik has fully accomplished its objective. With the collapse of the Soviet Union two decades ago, Russia established freedom of emigration for all citizens. Since 1992, U.S. presidents of both parties have issued annual certifications of Russias full compliance with the Jackson-Vanik amendment.

Because no other WTO member has a law similar to Jackson-Vanik, all of Russias trading partners except the United States will immediately benefit when Russia joins the WTO. Failure to approve PNTR and repeal Jackson-Vanik with regard to Russia would allow Moscow the right to discriminate against U.S. companies and the workers they employ and deny them the full benefits of Russias market-opening reforms. Meanwhile, European and Asian companies will be able to build on their already significant head start in tapping the growing Russian market. Business opportunities in Russia are expected to grow substantially after Russia finalizes its accession to the WTO. The Presidents Export Council estimates that U.S. exports of goods and services to Russiawhich, according to estimates, topped $11 billion in 2011could double or triple once Russia has joined. One often-posed question is: What happens if Russia fails to meet its commitments? In the area of intellectual property protection, for example, Russia continues to present significant challenges to U.S. innovators and creative artists. The Chamber will continue to urge the U.S. government to remain vigilant in ensuring that Russia implements its intellectual property commitments in full, including by making greater progress combating online piracy. However, addressing these challenges would be easier once Russia joins the WTO. If Congress approves PNTR with Russia, the United States will for the first time be able to use the WTO dispute settlement process to hold the Russian authorities accountable should they fail to fulfill their commitments as a new member of the organization. Russias accession to the WTO has been a bipartisan American foreign policy goal for many years. In 1993, Russia applied to join General Agreement on Tariffs and Trade, the precursor to the WTO. After years of talks, the Bush Administration took a major step forward in 2006 when it signed a bilateral agreement with Russia to address uniquely bilateral trade concerns. The Obama Administration concluded the multilateral negotiations for Russias accession in December 2011. Many of these arguments are also true in the case of Moldova, which joined the WTO in 2001. In fact, Moldova offers a cautionary tale of what the absence of PNTR can mean for U.S. exports, which have stagnated at less than $50 million annually in recent years. As Anders Aslund of the Peterson Institute for International Economics wrote after a recent visit, the absence of PNTR leaves Moldova in a legal limbo, and businessmen report that it is difficult to receive U.S. credits for export to Moldova. It is past time to approve PNTR with Moldova. The longstanding bipartisan goal of bringing Russia into the global rules-based trading system is finally within reach. The only question now is whether U.S. companies, workers, and farmers will be able to secure the benefits of Russias accession to the WTO. For these reasons, the Chamber urges Congress to approve PNTR and graduate Russia and Moldova from the JacksonVanik amendment before the August district work period. Sincerely,

R. Bruce Josten cc: Members of the House Committee on Ways and Means

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