ThomasNet News Logo
Sign Up | Log In | ThomasNet Home | Promote Your Business

NEMA welcomes House vote on U.S.-Russia trade.

Print | 
Email |  Comment   Share  
November 30, 2012 - NEMA congratulated strong bipartisan vote by House of Representatives to approve legislation to grant permanent normal trade relations status to Russia and provide access for U.S. businesses to the benefits of the entry of world's ninth largest economy into rules-based international trading system. Russian Federation formally joined the World Trade Organization on August 22, 2012, after many years of negotiations with the U.S. and other major trading partners.

NEMA Welcomes House Vote on U.S.-Russia Trade


(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)

National Electrical Manufacturers Association (NEMA)
1300 N. 17th St., Suite 1847-T
Rosslyn, VA, 22209
USA



Press release date: November 16, 2012

ROSSLYN, Va., —National Electrical Manufacturers Association (NEMA) today congratulated the strong bipartisan vote by the House of Representatives to approve legislation to grant permanent normal trade relations status to Russia and provide access for U.S. businesses to the benefits of the entry of the world’s ninth largest economy in to the rules-based international trading system.

The Russian Federation formally joined the World Trade Organization (WTO) on August 22, 2012, after many years of negotiations with the U.S. and other major trading partners. House passage of the bill, H.R. 6156, clears the way for Senate action later this month.

“Giving our manufacturers and service providers the opportunity to compete on a fair and level-playing field with foreign competitors in Russia is a good first step,” said NEMA President and CEO Evan R. Gaddis. “NEMA urges the Senate to act quickly to approve this legislation.”

The U.S. electroindustry exported more than $265 million worth of equipment to Russia in 2011, making it only the 27th largest export market.  U.S. electroindustry companies are also indirect exporters as suppliers of parts, components, and equipment to other companies that trade with Russia. A significant potential for growth in U.S. electroindustry exports to Russia is clear, given the size of the markets, the infrastructure needs, the permanent lowering of trade barriers, and the greater transparency of regulation and protection of intellectual property rights required under WTO disciplines.

The House voted 365-43 to remove Cold War–era restrictions that made normal U.S.-Russia trade relations contingent on an annual process. Under WTO rules, each member must afford the others permanent normal trade relations status in order to have access to the commercial and legal benefits of each country’s membership. Since August, U.S. companies have been at a commercial disadvantage relative to other potential suppliers to Russian customers.

NEMA is the association of electrical equipment and medical imaging manufacturers, founded in 1926 and headquartered in Arlington, Virginia. Its member companies manufacture a diverse set of products including power transmission and distribution equipment, lighting systems, factory automation and control systems, and medical diagnostic imaging systems. Worldwide annual sales of NEMA-scope products exceed $120 billion.

NEMA. Setting Standards for Excellence
Visit our website at www.nema.org
Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


 

Post a comment about this story

Name:
E-mail:
(your e-mail address will not be posted)
Comment title:
Comment:
To submit comment, enter the security code shown below and press 'Post Comment'.
 



 See related product stories
More .....
 See more product news in:
Services
 More New Product News from this company:
NEMA Welcomes Senate Vote to normalize US-Russia trade.
NEMA Fluorescent Lamp Indexes show 4Q 2010 and yearly figures.
More ....
| Featured Manufacturing Jobs
 Other News from this company:
NEMA Publishes White Paper NEMA LSD 70-2014 A Comparison of High Performance Luminaire Programs in the US Market
Industrial Control Systems Manufacturers Issue Statement of Cybersecurity Principles
NEMA Industry Director William Hoyt Named Co-Chair of Motor Summit 2014
NEMA Congratulates Members Included Among 2014 ENERGY STAR Award Winners
NEMA Publishes Revised NEMA MG 1 Condensed
More ....
 Tools for you
Watch Company 
View Company Profile
Company web site
More news from this company
E-mail this story to a friend
Save Story
Search for suppliers of
Trade Associations


Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by Thomasnet.com        Browse ThomasNet Directory

Copyright © 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy



Error close

Please enter a valid email address