U.S. Trade Representative Kirk Welcomes Russia’s Acceptance Of WTO Terms

WASHINGTON — July 23, 2012 — U.S. Trade Representative Ron Kirk welcomed the news that Russia has
taken its final step toward membership in the World Trade Organization (WTO) by notifying the WTO
that it has accepted the terms for its membership in the WTO. Thirty days from now, on August 22,
Russia will become the 156th Member of the WTO.

“Russia is the 6th largest economy in the world, and today’s action marks a significant point
in the evolution of the WTO and the global trading system,” Ambassador Kirk said. “As we have long
said, Russia’s membership in the WTO’s rules-based global trading system can benefit Russia, the
WTO, and the United States. Congress should continue to work on legislation regarding Jackson-Vanik
and Permanent Normal Trade Relations for Russia so American businesses, workers and creators have
access to the same benefits from Russia’s membership that their foreign competitors have.”

The United States still applies the conditions set out in the Jackson-Vanik amendment to
Russia. Since the WTO Agreement requires permanent, unconditional normal trade relations between
Members, the United States and Russia have stated that the Agreement will not apply between them
for the time being. The Administration is working with Congress on legislation to terminate the
application of the Jackson-Vanik amendment and authorize the President to extend permanent normal
trade relations to Russia as soon as possible.

Posted on July 31, 2012

Source: USTR