FOR THE RECORD: American Chamber of Commerce supports granting of normal trade relations to Ukraine (02/13/05)

FOR THE RECORD

American Chamber of Commerce supports granting of normal trade relations to Ukraine

KYIV - The American Chamber of Commerce (AmCham) in Ukraine addressed U.S. Sens. Richard Lugar and Carl Levin on their recent statements regarding the introduction of legislation to grant normal trade relations to Ukraine.

The AmCham Board of directors and membership voiced their opinion that the graduation of Ukraine from the Jackson-Vanik amendment to the Trade Act of 1974 is timely and underscored that they fully support the normalization of trade relations with Ukraine.

Such a move will send a strong signal to the leadership and people of Ukraine that continued reform and upholding of democratic principles will further Ukraine's stated Euro-Atlantic aspirations and bring them closer to the global community in which they belong, AmCham noted.

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Following is the full text of the American Chamber of Commerce letter, dated January 25, to Sens. Lugar and Levin.

Dear Sens. Lugar and Levin:

The American Chamber of Commerce in Ukraine (AmCham Ukraine) is pleased to see your recent statements regarding the introduction of legislation to grant normal trade relations to Ukraine.

The American Chamber of Commerce in Ukraine is among the most active non-government, non-profit business organizations operating in Ukraine. One of our principal activities is to represent the foreign investment community, as well as to facilitate the entrance of potential new investors into the Ukrainian market. We advocate on behalf of our members not only to the Ukrainian government, but also to all other governments which are economic partners of Ukraine, on matters of trade, commerce and economic reform.

The over 425 member-organizations of AmCham represent many of the largest companies operating in Ukraine with a majority of the foreign direct investment. Our members collectively employ hundreds of thousands of Ukrainians, providing them with exposure to international business practices and the opportunity to develop into leading Ukrainian professionals. Our members also bring international expertise and business knowledge to Ukraine, are among some of the largest taxpayers in Ukraine, and strive to be good corporate citizens.

Our members have been pleased to witness the transformation of Ukraine, which began upon independence in 1991, from a Soviet-style command and control economy and authoritarian state to an independent market-oriented economy. This transition has been difficult at times, and one of the largest hurdles that needed to be overcome was the opportunity for Ukrainians to cast their ballots in a free and fair election for the presidency of Ukraine.

That is why AmCham was pleased to witness the inauguration of President Yushchenko last Sunday, January 23. It was truly a momentous time in the history of Ukraine that has seen a strong movement towards establishing a free market economy and providing Ukrainian citizens with protections against various forms of discrimination, participation in democratic elections, as well as providing the right to emigrate freely.

The AmCham board of directors and membership believe that the graduation of Ukraine from the Jackson-Vanik amendment to the Trade Act of 1974 is timely, and we fully support the normalization of trade relations with Ukraine. It will send a strong signal to the leadership and people of Ukraine that continued reform and upholding of democratic principles will further Ukraine's stated Euro-Atlantic aspirations and bring them closer to the global community in which they belong.

Thank you for introducing legislation that will grant normal trade relations to Ukraine. The AmCham Ukraine business community stands behind this decision and are pleased to provide any support that may be necessary to pass this important bill.

Sincerely,
Jorge Zukoski
President

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