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CONGRESS ADOPTS KEY U.S.-ARMENIA TRADE PROVISION. BILL HEADED FOR
PRESIDENTIAL SIGNATURE
WASHINGTON, November 22 (Noyan Tapan). The U.S. Senate, on November
19, unanimously acted to permanently normalize trade between the
U.S. and Armenia, opening the door to expanded economic relations,
new commercial opportunities, and the further strengthening of
the longstanding bonds between the American and Armenian peoples,
reported the Armenian National Committee Of America (ANCA). With the
House version of the measure adopted in October, the bill now goes
to President Bush for signature.
This provision, which grants Permanent Normal Trade Relations (PNTR)
status to Armenia, was adopted in the final hours of the of the
Senate lame-duck session as part of the larger bill, H.R.1047 - the
Miscellaneous Trade and Technical Corrections Act. The bill, which
has been held up due to human rights concerns in Laos, was considered
following a Senate vote to avert a filibuster of the measure.
Armenian Caucus Co-Chairman Joe Knollenberg (R-MI) was the first
to raise the issue of Armenia PNTR in Congress. His legislation,
H.R.528, introduced last year was supported by the Armenian Caucus
and cosponsored by 112 other Members of Congress. A companion bill
was introduced on the Senate side by Senator Mitch McConnell (R-KY)
and cosponsored by 21 other Senators. The strong support for these
measures paved the way for their inclusion by members of Congress
negotiating the final version of the larger trade measure.
"The ANCA welcomes the Congressional passage of the Armenia-PNTR
bill and thanks Congressman Knollenberg, Senator McConnell and all
those who played a role in securing its passage," said Ken Hachikian,
Chairman of the ANCA. "Following Presidential signature of the measure,
we look forward to exploring new opportunities to further expand the
growing U.S.-Armenia economic relationship."
The Armenian Assembly of America hailed the vote by the United
States Senate to extend permanent normal trade relations (PNTR) to
Armenia. "Well aware that a robust economy is critical to Armenia's
future development, passage of Armenia PNTR was an instrumental
part of the Assembly's legislative agenda," said Armenian Assembly
Board of Trustees Chairman Hirair Hovnanian. "We would like to thank
Senate Majority Leader Bill Frist (R-TN) for his steadfast support
of Armenia PNTR and for allowing Senate consideration of this bill.
Additionally, we thank Senate Finance Committee Chairman Charles
Grassley (R-IA) and it's Ranking Member Max Baucus (D-MT) for their
active involvement and support as conferees to resolve differences
between the House and Senate versions of the MTB."
The Trade Act of 1974 excluded all Soviet countries from having
normal trade relations (NTR) status with the United States. One
particular provision of the Act, known as the Jackson-Vanik
amendment, required the President to deny NTR to those countries
that restricted free emigration. The policy was adopted, in part,
in response to Communist government restrictions on the emigration
of Jews. According to the terms of the Jackson-Vanik amendment, when
the President determines that freedom of emigration rights have been
reinstated in a country, normal trade relations may be granted. To
maintain NTR, the President must report to Congress twice a year
that Jackson-Vanik requirements have been met. While successive
Presidents have waived the Jackson-Vanik Amendment restrictions on
Armenia during the past decade, the passage of the Knollenberg bill,
would grant Armenia permanent normal trade relations status, without
the need for semi-yearly Presidential determinations.
PRESIDENTIAL SIGNATURE
WASHINGTON, November 22 (Noyan Tapan). The U.S. Senate, on November
19, unanimously acted to permanently normalize trade between the
U.S. and Armenia, opening the door to expanded economic relations,
new commercial opportunities, and the further strengthening of
the longstanding bonds between the American and Armenian peoples,
reported the Armenian National Committee Of America (ANCA). With the
House version of the measure adopted in October, the bill now goes
to President Bush for signature.
This provision, which grants Permanent Normal Trade Relations (PNTR)
status to Armenia, was adopted in the final hours of the of the
Senate lame-duck session as part of the larger bill, H.R.1047 - the
Miscellaneous Trade and Technical Corrections Act. The bill, which
has been held up due to human rights concerns in Laos, was considered
following a Senate vote to avert a filibuster of the measure.
Armenian Caucus Co-Chairman Joe Knollenberg (R-MI) was the first
to raise the issue of Armenia PNTR in Congress. His legislation,
H.R.528, introduced last year was supported by the Armenian Caucus
and cosponsored by 112 other Members of Congress. A companion bill
was introduced on the Senate side by Senator Mitch McConnell (R-KY)
and cosponsored by 21 other Senators. The strong support for these
measures paved the way for their inclusion by members of Congress
negotiating the final version of the larger trade measure.
"The ANCA welcomes the Congressional passage of the Armenia-PNTR
bill and thanks Congressman Knollenberg, Senator McConnell and all
those who played a role in securing its passage," said Ken Hachikian,
Chairman of the ANCA. "Following Presidential signature of the measure,
we look forward to exploring new opportunities to further expand the
growing U.S.-Armenia economic relationship."
The Armenian Assembly of America hailed the vote by the United
States Senate to extend permanent normal trade relations (PNTR) to
Armenia. "Well aware that a robust economy is critical to Armenia's
future development, passage of Armenia PNTR was an instrumental
part of the Assembly's legislative agenda," said Armenian Assembly
Board of Trustees Chairman Hirair Hovnanian. "We would like to thank
Senate Majority Leader Bill Frist (R-TN) for his steadfast support
of Armenia PNTR and for allowing Senate consideration of this bill.
Additionally, we thank Senate Finance Committee Chairman Charles
Grassley (R-IA) and it's Ranking Member Max Baucus (D-MT) for their
active involvement and support as conferees to resolve differences
between the House and Senate versions of the MTB."
The Trade Act of 1974 excluded all Soviet countries from having
normal trade relations (NTR) status with the United States. One
particular provision of the Act, known as the Jackson-Vanik
amendment, required the President to deny NTR to those countries
that restricted free emigration. The policy was adopted, in part,
in response to Communist government restrictions on the emigration
of Jews. According to the terms of the Jackson-Vanik amendment, when
the President determines that freedom of emigration rights have been
reinstated in a country, normal trade relations may be granted. To
maintain NTR, the President must report to Congress twice a year
that Jackson-Vanik requirements have been met. While successive
Presidents have waived the Jackson-Vanik Amendment restrictions on
Armenia during the past decade, the passage of the Knollenberg bill,
would grant Armenia permanent normal trade relations status, without
the need for semi-yearly Presidential determinations.