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Caterpillar Head Testifies

WASHINGTON — Caterpillar CEO Doug Oberhelman testified Thursday before the House Ways and Means Committee and urged Congress to pass legislation establishing permanent normal trade relations with Russia, the company said.

"In the last five years, Caterpillar's exports to Russia from its U.S. factories totaled nearly $2 billion, but Russia's entry into the WTO, combined with [normalized relations], could open the door for greater exports and the American jobs that go along with those exports," Oberhelman said.

"An economy of [Russia's] size should not be just our 31st-largest goods export market. Clearly there is a lot of opportunity to increase U.S. exports to Russia," Oberhelman said.

(MT)

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