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Vice President Joseph R. Biden Jr., left, in meetings with Russia’s president on Wednesday, called the country’s accession to the World Trade Organization “the most important item on our agenda,” and promised that the White House would push for the repeal of cold-war-era trade restrictions. But he warned that international investors were watching closely to see whether Russia made progress on corruption and rule of law.
MoreDuring remarks to senior officials from the Asia Pacific Economic Cooperation (APEC) Forum in Washington, Hillary Rodham Clinton, the Secretary of State, emphasized the strong commitment of the United States government to free trade in the region, as long as it is fair, transparent and “delivers results to the American people.” She stressed that the US is seeking free trade partnerships that are governed reasonably, are rules-based, "and that give businesses from all of our economies the chance to compete and that are grounded in shared principles.”
MoreU.S. Vice President Joe Biden said Thursday that Washington supports Russia's accession to the World Trade Organization because it will lead to greater trade between the two countries, what he called the "next frontier" of the relationship. "It's better for America and I believe better for Russia to be able to trade with each other under predictable and transparent rules," he said in a speech at Moscow State University at the end of a two-day visit that included meetings with Russia's president and prime minister.
MoreHANOI, March 10 (Xinhua) -- Vietnam's cashew nut export revenue hits 154 million U.S. dollars in the first two months, posting a year-on-year rise of 43.8 percent, according to a report by Vietnamese General Statistics Office on Thursday. The country exported some 22,000 tonnes of cashew nuts in the first two months this year, up 6 percent year-on-year, said the report. This year, Vietnam is expected to pocket 1.4 to 1.5 billion U.S. dollars from cashew nut export, up 32 percent over 2010, according to Vietnam Cashew nut Association (Vinacas).
More(Reuters) - A top Senate Democrat urged the Obama administration on Wednesday to bundle a valuable free trade deal with South Koreawith two other pacts with Colombia and Panama to meet Republican demands and ensure approval. "It's clear to me that none of these trade agreements are going to pass unless they're all packaged," either in a single piece of legislation or separate bills considered closely together, Senate Finance Committee Chairman Max Baucus told U.S. Trade Representative Ron Kirk at a hearing on trade.
More(Reuters) - A free trade deal with South Korea won't pass Congress unless it is somehow bundled with two other trade deals with Panama and Colombia, Senate Finance Committee Chairman Max Baucus said on Wednesday. "It's clear to me that none of these trade agreements are going to pass unless they're all packaged," either in a single piece of legislation or separate bills sent at the same time, Baucus told U.S. Trade Representative Ron Kirk at a hearing.
More(Reuters) - The United States will step up efforts for free, open and transparent trade across the Asia Pacific region as it seeks to double U.S. exports in five years, Secretary of State Hillary Clinton said on Wednesday. Clinton, addressing officials from the Asia Pacific Economic Forum, said expanding economic engagement with the Asia Pacific region remained a cornerstone of U.S. policy despite doubts at home about whether the global playing field is rigged against the United States.
More(Reuters) - U.S. Vice President Joe Biden praised Dmitry Medvedev's "personal leadership" on Wednesday and backed Russia's bid to join the World Trade Organization, but stopped short of giving a timeline. Medvedev, hosting Biden for a visit designed to bolster economic ties after two years of improving relations between Moscow and Washington, said Russia wants membership this year. "Because of your personal leadership... I think we've proved the skeptics wrong: We have had great progress in the last two years," Biden told the Kremlin chief.
MoreU.S. trade representative Ron Kirk heads to Capitol Hill this morning for what promises to be a testy hearing with lawmakers eager for the administration to move on three pending free trade agreements. The Obama administration is close to submitting its agreement with Korea for Congressional approval, but Kirk will likely be grilled on what amounts to round two: pending pacts with Colombia and Panama that were negotiated by the George W. Bush administration but never sent to Congress.
MoreU.S. Trade Representative Ron Kirk on Monday appealed to congressional leaders to begin work "without delay" toward ratifying a free-trade deal with South Korea, even as Republican leaders continued to press to link such action with movement on trade pacts with Colombia and Panama.
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