MIDLAND, Mich.--(BUSINESS WIRE)--The Dow Chemical Company (NYSE: DOW) applauds the work of the Government of the Federation of Russia, the US Administration and all the members of the World Trade Organization (WTO) Working Party in finalizing the technical details of Russia’s accession to the WTO. These commercially meaningful terms of entry reflect Russia’s dedicated commitment to a fully open, liberalized, rules-based market.
“This is a tremendous step forward in creating more export opportunities, access to the latest goods, technologies and services, and most importantly, partnerships with foreign investors in the further growth of Russia’s thriving business community,” stated Andrew Liveris, Dow chairman and CEO. “We look forward to working closely with the US Congress to ensure that American companies can fully participate in the new market access that will be made possible by removing the outdated legislation embodied in Jackson Vanick.”
Dow has been a proud member of the Russian business community since 1974. The country’s WTO accession will remove current barriers to market access, streamline customs processing requirements and create substantial export and investment opportunities for American companies.
For Dow, Russia’s accession will further stabilize this impressive investment climate and allow Dow’s US technology – from energy efficiency to water filters to electronic materials to nanotechnology – to play a role in addressing world challenges, and in supporting Russia’s economic modernization agenda.
About The Dow Chemical Company
Dow (NYSE: DOW) combines the power of science and technology with the "Human Element" to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2010, Dow had annual sales of $53.7 billion and employed approximately 50,000 people worldwide. The Company's more than 5,000 products are manufactured at 188 sites in 35 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.