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Public Statements

Russia and Moldova Jackson-Vanik Repeal and Sergei Magnitsky Rule of Law Accountability Act of 2012

Floor Speech

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Mr. MARCHANT. Madam Speaker, I rise in support of the Russia and Moldova Jackson-Vanik Repeal Act, which strengthens U.S. trade and helps American businesses stay competitive in a challenging global economy. The bill accomplishes these goals by granting permanent normal trade relations, or PNTR, with one of the leading economies in the world. Texas, in particular, stands to benefit.

First, granting PNTR grows new markets. In Texas, my State exported $1.6 billion worth of goods to Russia in 2011. That makes Texas the leading State in the country that trades with Russia. PNTR will allow Texas, and all U.S. businesses, to further expand into emerging markets.
Second, PNTR helps create jobs. In 2011, trade with Russia directly supported over 4,000 jobs in Texas. That number will only grow as new markets create new business opportunities.

Third, PNTR ensures U.S. businesses get equal protection with Russia under WTO obligations. Our foreign competitors can already use WTO mechanisms to enforce Russia's trade commitments. With this bill, so can America.

Madam Speaker, this bill promotes free trade, creates new jobs, and ensures protections for American workers. I proudly support this bill and urge my colleagues to do the same.

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