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Baucus meets Medvedev ahead of Russia trade debate

Washington Post

Sen. Max Baucus (D-Mont.) is on his way back from Russia after meeting with outgoing President Dmitry Medvedev, just months before a congressional debate over whether to establish permanent normalized trade relations with Moscow.

The visit was highly coordinated with the Obama administration, according to an aide to Baucus, the chairman of the Senate Finance Committee.

Baucus is anticipating a debate over granting Russia permanent normalized trade relations (PNTR) status — which would also require the repeal of the 1974 Jackson-Vanik amendment — sometime this spring or summer. By then, Russia will be a full member of the World Trade Organization, and U.S. businesses would be at a disadvantage in doing business in Russia if the PNTR issue is not resolved, according to Baucus.

“Expanding trade with Russia could mean billions of dollars of new opportunities for American businesses, ranchers and farmers and create thousands of jobs here at home. But Russia has to play by the rules, and having Russia in the WTO will help to make that happen,” the senator said in a statement.