CONGRESS ADOPTS KEY U.S.-ARMENIA TRADE PROVISION
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On November 19 USA Senate unanimously acted to permanently normalize trade between the U.S. and Armenia, opening the door to expanded economic relations, new commercial opportunities, and the further strengthening of the longstanding bonds between the American and Armenian peoples.
This provision grants Permanent Normal Trade Relations (PNTR) status to Armenia. By establishment of PNTR application of Jackson-Vanik amendment towards Armenia is being ceased, and the Armenian-American trade and economic relations will henceforth be regulated not only by bilateral contracts but also by the international ones, including the ones of World Trade Organization.
Armenian-American trade and economic relations, including the export from Armenia to USA already show growth trends. Under the data of USA Trade Department, during January-September of 2004, goods of $ 33,2 million were exported from Armenia to USA, which exceeds the showing of the same period of last year by 42%.
