23/10/2014 14:13
RIA Novosti


Companies Need More Say in APEC Policies – Clinton

06:50 08/09/2012
VLADIVOSTOK, September 8 (RIA Novosti)
Tags: APEC summit in Vladivostok, World Trade Organization (WTO), Hillary Clinton, United States, Russia

Businesses of the Asia-Pacific Economic Cooperation (APEC) bloc should have more influence on decision making, pushing governments to do away with protectionism, U.S. Secretary of State Hillary Clinton said on Saturday.

“The private sector needs to stand up for the system that will allow you to thrive over the long run,” Clinton said, addressing the APEC forum in the Russian Far Eastern city of Vladivostok.

“That means pushing governments to support high-standard trade agreements like the [2005] Trans-Pacific [Strategic Economic] Partnership to drop harmful protectionist policies,” she said.

Clinton said American businesses are actively investing in APEC countries, with U.S. exports to the region rising 45 percent between 2009 and 2011.

However, she said, they need open, transparent and fair treatment to succeed, and should be more proactive in fighting protectionism, which is unproductive in the long term.

This includes the United States, where the State Department is lobbying for the repeal of the Jackson-Vanik amendment that imposes formal restrictions on trade with Russia, she said, adding that the Congress may cancel the amendment – a relic of the Cold War – by October.

The amendment, named after Congressmen Henry M. Jackson and Charles Vanik, was introduced in 1974 to restrict trade with the Soviet Union and other non-market economies until they allowed free emigration.

The restrictions imposed by Jackson-Vanik are often waived, but remain in place and are a thorn in the side of Russia-U.S. trade relations.

Clinton also said Russia's recent admission to the World Trade Organization (WTO) was in the interests of Russia, the United States and the global economy.


  • Add to blog
  • Send to friend
  • Share

Add to blog

You may place this material on your blog by copying the link.

Publication code:


RIA NovostiCompanies Need More Say in APEC Policies – Clinton

06:50 08/09/2012 Businesses of the Asia-Pacific Economic Cooperation (APEC) bloc should have more influence on decision making, pushing governments to do away with protectionism>>

Send by e-mail

All fields are required!

Leave a comment
  • bielecThat's the Wall Street way...
    12:57, 08/09/2012
    Businesses should serve the community. If they cannot survive, means they are not needed and they should go bankrupt. That's the healthy way, the "free market way," the way it should be.

    Businesses should not try to take over the political sysytem. They try to do this to avoid regulations that protect local communities and local economies. The result is a colonial model featuring monopoly, exploitation, political corruption, and economic collapse.

    This should never be allowed!
  • PlutardesUSA not important in APEC
    21:35, 08/09/2012
    During the 80's when the American President, Ronald Reagan, met with his Russian Counterpart, Mikail Gorbachev, the Media of the World used to say that the "two most feared men" in the world were meeting. There was an Aura around Reagan. Today, only the Russian counterpart, Putin, has such a "positive" charisma. On Saturday, the Secretary of State of the USA, Hillary Clinton met with Russian Foreign Minister, Sergei Lavrov that then had a lackluster meeting, and a blasée press conference with Hillary. For sure, the USA was not important in the Agenda of APEC, Asia-Pacific Economic Cooperation.
  • savo@oblo.comHillary
    11:05, 14/09/2012
    She represents the econo-social-political system which is bankrupt, so whatever she says it is not good.

    Plus she is a liar, so whatever she says nobody should trust.

© 2014  RIA Novosti
Some material may be inappropriate for those under 18