AGRIBUSINESS: Senate To Vote On Russia Trade Status

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A Senate vote on the Russia and Moldova Jackson-Vanki Repeal Act of 2012 could come as early as Wednesday.

The American Soybean Association is encouraging all senators to vote yes on the House-passed version of the bill without amendment. If passed by the Senate and signed into law by the President - the bill would establish permanent normal trade relations with the world’s ninth-largest economy.

ASA President Steve Wellman says American soybean farmers can reap the benefits of more than 140-million consumers and a fast-growing economy - which last year imported more than $770 million in American meat, poultry, egg and dairy products. Until the U.S. graduates Russia from the Jackson-Vanik Amendment and establishes PNTR - he says we will not be able to fully access the Russian market without penalty.

The House version of the legislation - H.R. 6156 was passed on November 16th.