Today, the tech industry celebrates another critical step towards normal trade relations with Russia as the Senate, by a vote of 92-4, decisively passed legislation to establish permanent normal trade relations (PNTR) with Russia. We commend the Senate for taking swift action today on a bill that ensures enforcement of Russia’s WTO commitments and puts the needs of American workers and businesses first.
More important, Russia PNTR is a critical step toward gaining increased market access to the world’s ninth-largest economy, as well as substantial commitments in services, and increased intellectual property protections.
Now that both the House and Senate have overwhelmingly passed Russia PNTR, we look forward to the president signing this bill into law and bringing closure to a legislative process that has been years in the making. Yet, more work remains to be done for our industry. We are committed to working closely with the U.S. government and with other WTO members to ensure Russia honors its commitment to join the Information Technology Agreement (ITA), which eliminates tariffs on a wide range of tech products, and facilitates increased economic investments and growth among ITA members.
The passage of Russia PNTR and securing Russia’s participation in the ITA together represent the kind of measures we need to improve our national economic climate and create new global market opportunities for U.S. entrepreneurs and innovators.