"It is a long-awaited step that will help remove this problem, which is a relic of the Cold War and does not reflect the spirit of the Ukrainian-American strategic partnership," he said.
The bill was sponsored by Sen. Richard Lugar (R-IN), Chairman of the Senate Foreign Relations Committee, and received bi-partisan support from other members of the United States Senate.
In a "Dear Colleague" letter written in late October 2005, Sens. Lugar and Barack Obama (D-IL) emphasized the need for the repeal of the Jackson-Vanik amendment as a means to which, "the U.S. must remain committed to assisting Ukraine in pursuing market economic reforms.
The permanent waiver of Jackson-Vanik and establishment of permanent normal trade relations will be the foundation on which further progress in a burgeoning economic partnership can be made."
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