Washington hopes that the law abolishing the Jackson-Vanik amendment will be adopted in September

VLADIVOSTOK, September 8. /Itar-Tass /. Washington hopes that a law abolishing the Jackson-Vanik amendment will be adopted in September, said today at the APEC summit, U.S. Secretary of State Hillary Clinton.

"We hope that this bill will be passed as early as this month," - she said.

"In order for our country to compete with the others here, in Russia, we are closely in contact with Congress in case of termination of the Jackson-Vanik amendment and granting Russia a permanent normal trade relations", - assured Clinton.

The Jackson-Vanik amendment was added to the Trade Act of the United States in 1974. Its main purpose - to limit trade with non-market economies /meaning the state of so-called Eastern Bloc, and above all, the Soviet Union /, which, in particular, limited the freedom of emigration.

In July this year, a bill to abolish the Jackson-Vanik amendment and grant Russia permanent status of normal partner in trade was approved by committees of the Senate and the U.S. House of Representatives. However, its further passage in the U.S. Congress has stalled because of party differences, bearing in many pre-election.

Several lawmakers, however, linked the repeal of the Jackson-Vanik amendment to the adoption of the "Magnitsky Act", which provides for sanctions against members of the Russian security forces and judges involved in the death of a lawyer Fund "Hermitage Capital Management" in a Moscow detention center in November 2009. However, according to the administration of President of the United States, a bill repealing the Jackson-Vanik amendment concerning Russia, in itself deserves to be taken.

U.S. Secretary of State also made a forecast that with the entry of Russia into the WTO, U.S. exports to Russia will double or triple.

"Congratulations to Russia's WTO accession, - said Clinton. - This is consistent with the interests and the Russian Federation, and the United States, to the interests of the global economy."

"Russia's implementation of its obligations, according to experts, will increase by three per cent of GDP in the medium term and 11 percent - in the long term," - she said, adding that "U.S. exports could double or even triple."

August 22 Russia became 156th member of the World Trade Organization, officially completing the WTO accession process, which took a long 17 years. Work on removing the existing restrictions on trade with Russia will begin in the near future. In particular, this applies to 19 countries, including the United States, which, as of July 1 2012 The use of protective measures in trade relations with Russia.

WTO, which has a specialized agency of the United Nations, launched January 1 1995 /agreement on the establishment was signed in Marrakesh in 1994 /. The organization is the successor to the General Agreement on Tariffs and Trade, in force since 1947. WTO - the only international body exercising supervisory role in world trade. Each of the States Parties shall make available to other most-favored-nation.