November 14, 2006

 

US beef, pork industries pleased with Russian trade deal

 

 

US beef and pork producers are going to be able to sell a lot more product to Russia thanks to a new bilateral agreement, although details of the deal that clears the way for Russia to join the World Trade Organization (WTO) are still being kept under wrap.

 

"This is a tremendous victory for our producers," said National Pork Producers Council (NPPC) President Joy Philippi on Monday (Nov 13). "This bilateral accession agreement will ... increase producer profits."

 

Beef industry representatives were also happy.

 

Gregg Doud, chief economist for the National Cattlemen's Beef Association (NCBA), said: "We are extremely pleased."

 

NPPC and NCBA officials said they would like to say more, but cannot until the US-Russian agreement has been officially finalised.

 

US pork exports to Russia have increased sharply over the past couple years, according to the NPPC, rising from "nearly US$8 million in 2003 to US$72.2 million in 2005".

 

US Trade Representative Susan Schwab announced the "agreement in principle" with Russia on Friday. The details, though, have not yet been finalised, she said.

 

Congress will have to approve the deal, and US negotiators have been working closely with legislators during talks with the Russians, Schwab said.

 

The bilateral agreement, she said, will allow US "businesses, farmers, ranchers and others to enjoy the benefits flowing from Russia's membership in the WTO".

 

Russia must also complete bilateral agreements with other WTO members and secure a comprehensive multilateral deal before it is allowed to accede.