NORTHFIELD, Ill., June 15, 2012 /PRNewswire/ -- Kraft Foods
welcomes the introduction of bipartisan legislation in the U.S.
Senate to establish permanent normal trade relations (PNTR) with
Russia and to repeal the
Jackson-Vanik amendment to the Trade Act of 1974.
(Logo: http://photos.prnewswire.com/prnh/20090420/KRAFTLOGO)
Russia, which is one of Kraft
Foods' 10 priority countries for its Developing Markets business,
is expected to join the World Trade Organization (WTO) in
July. This legislation is vital for U.S. companies to realize
the full potential of Russia's WTO
commitments. The legislation is needed to ensure U.S. companies are
on a level playing field when competing with other global companies
in this significant and growing market.
Accession to the WTO establishes important commitments on market
access and intellectual property protection; streamlines border
processing requirements; improves transparency; and provides for
international dispute settlement. Ultimately, its passage creates
an opportunity for job creation both here and abroad.
Kraft Foods supports passage of this legislation and applauds
Senators Baucus, Kerry, Thune and McCain for their leadership on
this important issue.
About Kraft Foods
Kraft Foods Inc. (NYSE: KFT) is a global snacks powerhouse
with an unrivaled portfolio of brands people love. Proudly
marketing delicious biscuits, confectionery, beverages, cheese,
grocery products and convenient meals in approximately 170
countries, Kraft Foods had 2011 revenue of $54.4 billion. Twelve of the company's
iconic brands – Cadbury, Jacobs, Kraft,
LU, Maxwell House, Milka, Nabisco,
Oreo, Oscar Mayer,
Philadelphia, Tang
and Trident – generate revenue of more than $1 billion annually. On Aug. 4, 2011, Kraft Foods announced plans to
divide and create two independent public companies: a high-growth
global snacks business and a high-margin North American grocery
business. The transaction is expected to be completed before
the end of 2012. A leader in innovation, marketing, health
& wellness and sustainability, Kraft Foods is a member of the
Dow Jones Industrial Average, Standard & Poor's 500, Dow Jones
Sustainability Index and Ethibel Sustainability Index. Visit
kraftfoodscompany.com and facebook.com/kraftfoodscorporate.
- make today delicious -
SOURCE Kraft Foods