Senators Kerry, Corzine, Mikulski
Cosponsor Armenia Trade Legislation
WASHINGTON, DC—Democratic Presidential
Candidate John Kerry (D- MA) was recently joined by Senators Jon
Corzine (D-NJ) and Barbara Mikulski (D-MD) in supporting key legislation,
which would open greater trade opportunities between the US and
Armenia, reported the Armenian National Committee of America (ANCA.)
"Armenian Americans in Massachusetts, New
Jersey, Maryland and around the nation appreciate the support of
Senators Kerry, Corzine and Mikulski for S.1557 and look forward
to working with their offices and committee leadership to help secure
passage of this important legislation at the earliest opportunity,"
said ANCA Executive Director Aram Hamparian.
The legislation, S.1557, was introduced this
August by Senators Mitch McConnell (R-KY), Paul Sarbanes (D-MD),
and Barbara Boxer (D- CA). When enacted, it will extend permanent
normal trade relations (PNTR) status to Republic of Armenia. The
companion measure in the House, H.R.528, introduced by Congressional
Armenian Caucus Co- Chairmen Joe Knollenberg (R-MI) and Frank Pallone
(D-NJ), now has 109 cosponsors.
The legislation would ensure lower tariffs on
Armenian imports to the US and give greater Armenian access to US
government credit facilities on a permanent basis. Permanent normal
trade relations (PNTR) status ensures lower duties on Armenian imports
to the US, creating incentives for increased trade and investment
opportunities between the two countries. As such, the measure strengthens
bilateral relations between the two countries and helps reinforce
the enduring friendship between the American and Armenian peoples.
Increased US-Armenia trade and investment also helps to offset the
impact of the Turkish and Azerbaijani blockades, estimated by the
World Bank at up to $720 million a year.
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