The White House
Office of the Press Secretary
For Immediate Release
June 18, 2012
Joint Statement by the President of the United States of America Barack Obama and the President of the Russian Federation Vladimir Putin
The United States of America and the Russian Federation confirm our commitment to strengthening close and cooperative relations for the benefit of the peoples of our countries, international peace, global prosperity, and security. In recent years, we have laid a solid foundation for expanding our bilateral interaction in a variety of areas. Today we agree to continue this work guided by the principles of the rule of law, respect for human rights, equality, and mutual respect.
One of the key tasks on our shared agenda is the expansion of trade and investment relations, which should foster mutual economic growth and prosperity. To this end, we have agreed to prioritize the expansion and diversification of our bilateral trade and investment through nondiscriminatory access to our markets based on international rules.
An important step in this direction is Russia’s accession to the World Trade Organization (WTO), which has become possible thanks to our joint efforts. In order for WTO rules and mechanisms to apply to our bilateral trade, the Obama Administration is working closely with the U.S. Congress to terminate, as soon as possible, application of the Jackson-Vanik Amendment with respect to Russia and extend Permanent Normal Trade Relations to the Russian Federation. The United States has also welcomed and offered its support to Russia’s pursuit of membership in the Organization for Economic Cooperation and Development (OECD).
Joint Statement by the President of the United States of America Barack Obama and the President of the Russian Federation Vladimir Putin