JOC Staff | Dec 17, 2012 10:11AM EST
The National Association of Manufacturers has applauded President Obama’s signing of the Russia and Moldova Jackson-Vanik Repeal Act, which establishes permanent normal trade relations with Russia, enabling U.S. manufacturers to access the growing Russian market.
Manufacturers can now take advantage of the full benefits of Russia’s World Trade Organization membership, said Daniel Cruise, Alcoa’s vice president for global public and government affairs and NAM’s Russia trade relations task force chairman.
“As the ninth largest economy in the world, the Russian market presents a great opportunity to grow exports,” said Jay Timmons, NAM president and CEO.
