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Cancellation of Jackson-Vanik amendment is real

Mikhail Margelov believes the pragmatic interest expressed by businesses in both countries is an argument in favor of the amendment’s cancellation

MOSCOW, April 3 (Itar-Tass) —— The outlook for the cancellation of the archaic Jackson-Vanik amendment looks quite realistic, but in the context of heated pre-election debates in the United States it will be important to prevent another postponement of that decision, the chairman of the Federation Council’s international affairs committee, Mikhail Margelov, has told ITAR-TASS.

He believes the pragmatic interest expressed by businesses in both countries is an argument in favor of the amendment’s cancellation.

“American businessmen have realized well enough that the preservation of potential obstructions, even those posing psychological hindrances to trade with Russia, in the wake of our country’s accession to the WTO will inevitably give a competitive edge to their European and Asian rivals,” Margelov said.

At the same time he drew attention to the fact that the unconditional cancellation of the amendment still had some critics, particularly so, on the eve of the US presidential election.

“In the current situation and against a background of soaring election rhetoric in the United States Russia’s executive and legislative authorities should go ahead with an intensive dialogue with Washington in order to prevent a postponement of the decision to cancel the amendment,” Margelov said.

In that connection he said that the FC international affairs committee will hold a round-table discussion on Wednesday, April 4, devoted to the problem of cancelling the Jackson-Vanik amendment in the context of Russia’s admission to the WTO. Taking part in the discussion will be Federation Council and State Duma members, officials from the Foreign Ministry, Economic Development Ministry, Ministry of Industry and Trade, and representatives of the scientific community and businesses.

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