Tashkent discusses with Washington repeal of the Jackson–Vanik amendment

Tashkent discusses with Washington repeal of the Jackson–Vanik amendment

Uzbekistan is in talks with US to remove the country from the Jackson-Vanik amendment, as well as to provide additional preferences over admission to the World Trade Organization (WTO), correspondent of Podrobno.uz reports citing to the Ministry of Foreign Affairs of Uzbekistan.

The issues including Uzbekistan’s accession to the WTO, obtaining the status of a developing economy (for receiving preferences in negotiations with countries – members of the WTO) and Uzbekistan’s graduation from the Jackson-Vanik amendment were discussed, the Foreign Ministry of Uzbekistan said.

The Jackson–Vanik amendment is a provision in United States federal law, intended to affect US trade relations with countries with non-market economies that restrict freedom of emigration and other human rights. The amendment remains to be valid in trade relations of the US with CIS countries (Azerbaijan, Belarus, Kazakhstan, Tajikistan, Turkmenistan and Uzbekistan), though they were granted a temporary waiver.

Permanent and unconditional most-favored nation treatment in trade relations with CIS countries can be extended to a country subject to the law only if a bill that would repeal the Jackson–Vanik amendment for a country is passed the United States Congress and a bill into law with the adopted amendment repeal is signed. After the collapse of the USSR, this amendment lost its original meaning. In this regard, the United States annually grants a yearly waiver to the provisions of Jackson-Vanik for the CIS countries.