In advance of Wednesday’s Senate Finance Committee hearing on the implications of Russia’s accession into the World Trade Organization (WTO) for the United States, the American Soybean Association (ASA) joined more than 150 organizations from across the business community in submitting a letter urging the committee to establish permanent normal trade relations (PNTR) with Russia.
“The pork and poultry industries, which use soybean meal in animal feed, are poised to see great success in Russia as income levels rise and the demand for meat increases. What benefits these industries benefits soybean farmers,” said ASA First Vice President Danny Murphy, a soybean farmer from Canton, Miss. “Those potential positives, however, hinge on further expansion of trade to Russia. The establishment of PNTR with Russia is critical to our ability to increase soybean exports into Europe’s largest consumer market and the world’s 11th largest economy.”
As part of the Coalition for U.S.-Russia Trade, which comprises businesses from a wide range of industries, ASA advocates the graduation of Russia from the Jackson-Vanik amendment to the Trade Act of 1974, enabling Congress to approve PNTR before Russia’s expected entry into the WTO later this summer.… Continue readingRead More »