"In the last five years, Caterpillar exports from the U.S. to Russia have totaled about $2 billion, but we think PNTR will pave the way for increased exports for American made products and agricultural items," Oberhelman said. "Establishing PNTR puts Caterpillar on equal footing with our competitors from other countries, most of who already benefited from Russia's entry into the WTO. We expect it will also benefit our Russian customers. Along with WTO membership, PNTR provides a framework for Russia and the United States to expand trade on a level playing field for both countries, while expanding free market principles," Oberhelman said.
the United States has maintained Normal Trade Relations (PNTR) with
Russia on a temporary, year-to-year basis. The WTO, however, requires its members give each other PNTR, and until today, the U.S. was the only WTO member country that had not established normal trade ties with
About Caterpillar:For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2011 sales and revenues of $60.138 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services and Progress Rail Services. More information is available at: http://www.caterpillar.com.
Forward-Looking StatementsCertain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance, and we do not undertake to update our forward-looking statements.
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