Note: BRT President John Engler sent a letter to all 50 U.S. governors calling on them to support Russia permanent normal trade relations (PNTR) legislation and urge Congressional action before the August recess. Below is a copy of the letter. The letter links to BRT’s state-by-state fact sheets showing the importance of the Russian market to each state. Those fact sheets can also be found [here].
Dear Governor:
I know that expanding opportunities for international trade and attracting foreign investment are high priorities for you. U.S. manufacturers, service providers, farmers and workers benefit when foreign trade barriers fall and new markets are opened for their exports.
In 2012, the most significant pending opportunity the United States has to increase trade and investment with another country is with Russia, the world’s 9th largest economy. Russia is expected to join the World Trade Organization (WTO) this summer. When it does, 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. Our Business Roundtable CEOs, more than 200 strong, are urging the Administration and Congress to pass Russia permanent normal trade relations (PNTR) legislation before the August congressional recess. We need your help.
The U.S. economic benefits from Russia’s accession to the WTO are not automatic. They will become locked-in and enforceable only if Congress passes legislation establishing PNTR with Russia. If Congress doesn’t pass PNTR, Russia will still be able to join the WTO, and our foreign competitors will get the enforceable benefits, and America and your constituents that export to Russia will be left behind.
For your information and use, I have attached a Business Roundtable economic analysis that details the importance of the Russian market to exports from your state. We found that every state has the potential to increase its exports to Russia. On the other hand, failure by Congress to timely pass Russia PNTR legislation would make it harder for companies in in your state and the United States to do business and compete in the growing Russian market.
That is why passage of Russia PNTR legislation is our top legislative trade priority this year. Business Roundtable is playing a leading role in the U.S. business community to achieve this. Our overall goal is to restore the U.S.
economy, so strong economic growth and job creation are ignited. Opening markets, like Russia, is an effective way to increase export sales of U.S. goods and services and thereby help strengthen the U.S. economy.
My request of you is twofold: (1) Issue a statement in support of Russia PNTR legislation; and (2) Ask your state’s delegation in Congress to support Russia PNTR legislation and urge that action on such legislation occur before the August congressional recess.
Should you or your staff need further information or have specific questions about this important issue, please feel free to contact me or David Thomas, Vice President, Business Roundtable, at (202) 872-1260.
Sincerely,
John Engler
JE/dr