Contact: Ryan Baldwin (202) 249-6517
WASHINGTON, D.C. (June 12, 2012)
The American Chemistry Council (ACC) issued the following statement regarding the introduction of legislation by the U.S. Senate Committee on Finance to establish permanent normal trade relations (PNTR) with Russia:
"We applaud Committee Chairman Max Baucus, International Trade Subcommittee Ranking Member John Thune, Foreign Relations Committee Chairman John Kerry, and Armed Services Committee Ranking Member John McCain for their commitment to improving trade relationships overseas and for working to create jobs across every sector of America's economy.
"The World Trade Organization has opened its doors to Russia and the United States must do the same if it wants to capitalize on free market access to the world's ninth-largest economy. Access to new foreign markets like Russia is increasingly essential for the continued expansion and competitiveness of American chemistry, and it will help the United States meet President Obama's stated goal of doubling U.S. exports by the end of 2014.
"Chemical-product exports totaled $197 billion in 2011 and one-quarter of the chemical industry's 788,000 jobs depends on international trade. Export growth in the chemical industry spurs additional investment in manufacturing and related exports, creating a ripple effect of
, investment and economic growth."