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US grants non-discrimination status to Russian products
21
Dec '12
US President Barack Obama has announced extension of non-discriminatory treatment to products imported from the Russian Federation and Moldova.
 
The proclamation implies that the US Government has permanently normalized its trade relations with Russia and Moldova with immediate effect.
 
The Presidential announcement came after the House of Representatives and the Senate passed the legislation to grant permanent normal trade relations (PNTR) to Russia.
 
The Russian Federation has been found to be in full compliance with the freedom of emigration requirements since 1994, the President said in his proclamation, which will ensure that US companies share the full benefits of Russia becoming member of the World Trade Organization (WTO) in August this year.
 
Along with Russia, President Obama also granted PNTR status to Moldova, a former Soviet republic, which has been a member of the WTO for over a decade now.
 

Fibre2fashion News Desk - India


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