Industry favors US trade relations with Russia

Published: December 7, 2012 6:00 am ET

Related to this story

Topics Materials, Public Policy, Suppliers

WASHINGTON (Dec. 7, 12:05 p.m. ET) — Resin suppliers and plastics trade groups are urging President Obama to sign legislation that would establish permanent normal trade relations with Russia.

“Without this legislation, our global competitors would be the only beneficiaries of Russia’s WTO [World Trade Organization] accession and U.S. manufacturing would miss out on a much needed boost to job creation and economic growth that a level playing field in the world’s 9th largest economy will bring,” said Bill Carteaux, president and CEO of the Washington-based Society of the Plastics Industry Inc., in a written statement.

The U.S. Senate voted 92-4 to pass the Russia and Moldova Jackson-Vanik Repeal Act of 2012.

Carteaux pointed to data from the President’s Export Council, which estimates that U.S. exports of goods and services to Russia —which were more than $11 billion in 2011 — could double or triple with the approval of normal trade relations.

“Our SPI advocacy team worked many hours in an effort to convince Congress to open up market access for American manufacturing companies by passing this bill,” he said.

Companies that publicly called for approval of the bill include Dow Chemical Co. and DuPont Co.


Comments

Industry favors US trade relations with Russia

Published: December 7, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

PET to PET boosts recycling capacity

September 18, 2014 11:14 am ET

PET to PET Recycling Austria GmbH, a bottle-to-bottle PET recycling operation backed by Coca-Cola Hellenic Bottling and several beverage...    More

Image

Bayer spinning off plastics business

September 18, 2014 8:49 am ET

Bayer AG will spin off its MaterialScience plastics group into a separate, publicly-traded company within the next 12 to 18 months.    More

Image

Minnesota receives grant to help develop new bioplastics

September 17, 2014 4:08 pm ET

The University of Minnesota has received a $20 million grant to fund the development of new types of bioplastics.    More

Image

China's Polymax Elastomer launches U.S. production in Illinois

September 17, 2014 3:35 pm ET

Chinese materials maker Polymax Elastomer Technology Co. Ltd. has opened a North American production site and headquarters in Waukegan, Ill.    More

Image

PolyOne helps nonprofit get water purification to more places in need

September 17, 2014 1:59 pm ET

Resin giant PolyOne Corp. is teaming up with WaterStep, a non-profit water purification agency, to help the group assist a greater number of disaster ...    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events