Business Roundtable

Washington – Business Roundtable (BRT) today launched “50 Days for Trade,” a multi-faceted, intensified push for Congress to approve permanent normal trade relations (PNTR) with Russia by the August recess. Russia is the world’s ninth largest economy and is expected to join the World Trade Organization (WTO) this summer, but Congress needs to act for U.S. companies to fully benefit from increased market access to Russia.

“With more than 140 million people and a rapidly growing middle class, Russia offers tremendous potential for selling more U.S. goods and services, especially as Russia will be significantly opening its markets to foreign companies as early as this summer,” said Doug R. Oberhelman, Chairman and CEO of Caterpillar Inc., and Chair of BRT’s International Engagement Committee. “PNTR will allow the United States to compete for Russian market share on a level playing field with our competitors in Europe, Asia and elsewhere. That’s good news for American manufacturers, service providers, farmers and workers.”

New survey results show that a majority of the electorate supports the idea of a greater trade relationship with Russia (57 percent approve – 26 percent oppose), with support increasing even further with awareness of the potential economic benefits of a greater relationship. The poll was conducted by The Winston Group on May 26-27. Highlights include:

• Sixty-four percent favor a greater trade relationship with Russia, knowing that Russia will join the WTO this summer, while only 23 percent oppose.
• Seventy percent said they favor Congressional action to allow U.S. businesses to sell more to Russia, given that Russia is the world’s ninth largest economy yet our two countries lack a significant trade relationship, and only 21 percent oppose.

“The United States can either move forward to expand opportunities for American companies and workers by approving PNTR, or it can sit on the sidelines and watch our foreign competitors receive the full benefits of Russia’s World Trade Organization membership,” added BRT President John Engler. “We urge Congress and the President to work together to pass PNTR to make sure that the United States benefits when Russia joins the WTO this summer.” 

Approval of PNTR is BRT’s top trade priority for 2012. When Russia joins the WTO, all WTO member nations will benefit from lower tariffs, greater market transparency, protection of intellectual property rights and use of the WTO’s dispute resolution processes in their trade with Russia. Yet the economic benefits will not be automatic for the United States. Congress must pass legislation establishing PNTR to ensure that the U.S. can benefit from Russia’s WTO commitments.

Major components of its “50 Days for Trade” campaign include the following:

• Launch of new Russia PNTR  action center and resource page including an interactive map showing U.S. trade ties with Russia; opportunities for states and local companies from increased trade; and social media platforms for users to contact their Congressman to urge action  
• Daily “state spotlight” feature highlighting current trade between each of the 50 states and Russia and the importance of PNTR for increasing such trade 
• Targeted media outreach in all 50 states over the next 50 days explaining the economic benefits of increased Russia trade
• Stepped-up outreach by BRT CEOs and member companies to members of Congress in Washington and in home states and districts
• Coordination of advocacy efforts with state governors and state Business Roundtable affiliates
• National grassroots outreach campaign
• Print and online advertising, and social media outreach with Twitter and Facebook
• National Op-Ed campaign

To learn more about BRT’s “50 Days for Trade” campaign, visit www.brt.org/Russia.