Deere & Company Testifies on Importance of Russia PNTR Legislation
March 15 2012 - 10:05AM
Business Wire
Passing Permanent Normal Trade Relations (PNTR) legislation is
critical for U.S. companies and workers to compete in the growing
Russian market, Samuel R. Allen, Chairman and CEO of Deere &
Company, testified today to the Senate Committee on Finance on
behalf of Business Roundtable (BRT) and his own company.
“PNTR for Russia is crucial for U.S. manufacturers, service
providers and agricultural producers to receive the full benefits
of Russia’s WTO accession, and to compete on a level playing field
for Russian customers,” Mr. Allen testified. “PNTR with Russia is,
simply put, a benefit to the United States rather than an
accommodation to Russia.”
BRT supported his testimony with the release of an online U.S.
map linking to state-by-state fact sheets that show trade ties
between each U.S. state and Russia and how U.S. exports to Russia
are already falling behind exports from other countries. The fact
sheets highlight the economic case for PNTR with Russia. BRT is
urging Congress to pass legislation graduating Russia from the 1974
Jackson-Vanik amendment and establishing PNTR with Russia to ensure
that the United States benefits from all of the commitments made by
Russia in joining the World Trade Organization (WTO).
“PNTR with Russia is BRT’s top legislative trade priority this
year. It is necessary to help American companies and workers
compete for sales of goods and services in Russia, which is one of
the fastest growing markets in the world,” said Douglas R.
Oberhelman, Chairman and CEO of Caterpillar Inc., and Chair of
BRT’s International Engagement Committee. “Until Congress passes
PNTR with Russia, U.S. companies and workers will not have the same
protections as their foreign competitors doing business in
Russia.”
Mr. Allen’s testimony can be accessed here; and BRT’s
state-by-state fact sheets can be accessed here.
Business Roundtable (BRT) is an association of
chief executive officers of leading U.S. companies with over $6
trillion in annual revenues and more than 14 million employees. BRT
member companies comprise nearly a third of the total value of the
U.S. stock market and invest more than $150 billion annually in
research and development – nearly half of all private U.S. R&D
spending. Our companies pay $163 billion in dividends to
shareholders and generate an estimated $420 billion in sales for
small and medium-sized businesses annually.
BRT companies give nearly $9 billion a year in
combined charitable contributions.
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