1. Recognizing the mutual benefits to trade relations on the basis of this agreement and in accordance with the nation`s principles most respected in Article I, the parties, on the basis of reciprocity and without prejudice to relations with third countries, improve market access for the other party`s products and services and optimize reciprocal trade opportunities , notably through satisfactory reciprocity of market-opening measures resulting from multilateral negotiations. 2) Given the considerable importance of tourism in establishing mutual understanding between the peoples of the United States and the Soviet Union and the increased role in developing economic cooperation between the two countries, the parties agree to conclude a separate bilateral agreement on tourism. Convinced that an agreement on trade relations between the two parties will best serve their common interests, and 1. The Trade Office is composed of one senior official and no more than three alternate officials and a number of staff agreed upon by mutual agreement, but if the number of approved civil servants and staff can be changed by mutual agreement between the two governments. (d) “organization,” with respect to the United States, a U.S. company and, in the case of the Soviet Union, any economic entity or business (including a company) engaged in foreign minister or other business activities with foreigners or businesses. The AMéricano-Russian trade agreement provides for reciprocal customs treatment of the most favoured nation (MFN) for the products of each country. The trade agreement was concluded with the Soviet Union in June 1990 and approved by the U.S. Congress in November 1991. The United States and Russia agreed to make technical adjustments to the agreement to reflect the creation of an independent Russia. A new agreement from the U.S. Congress is not necessary.
(c) benefits to third countries in accordance with the General Agreement on Tariffs and Trade (GATT) and benefits to developing countries under GATT and other international agreements; and a third factor influencing trade relations with Russia are political measures to limit trade, i.e. sanctions. In July 2014, in response to Russia`s responsibility for the events in Ukraine, the EU adopted economic sanctions against Russia, which target four sectors: access to finance, weapons, dual-use goods and specific oil extraction and exploration technologies. For more information on these measures, click here. The agreement will allow Russia to export goods to the United States while it will receive non-discriminatory treatment of its goods. We expect this agreement to create business opportunities for Russian companies and encourage the development of a market economy in Russia, while laying the groundwork for improved trade opportunities for the United States.