Russia, which is one of Kraft Foods' 10 priority countries for its Developing Markets business, is expected to join the World Trade Organization (WTO) in July. This legislation is vital for U.S. companies to realize the full potential of Russia's WTO commitments. The legislation is needed to ensure U.S. companies are on a level playing field when competing with other global companies in this significant and growing market.
Accession to the WTO establishes important commitments on market access and intellectual property protection; streamlines border processing requirements; improves transparency; and provides for international dispute settlement. Ultimately, its passage creates an opportunity for job creation both here and abroad.
Kraft Foods supports passage of this legislation and applauds Senators Baucus, Kerry, Thune and McCain for their leadership on this important issue.