AEM looks to boost trade with Russia

The US-based Association of Equipment Manufacturers (AEM) is calling on the US authorities to take positive action that will help boost trade with Russia. With Russia joining the World Trade Organisation (WTO) in the coming months, the AEM is calling on the US authorities to grant Russia Permanent Normal Trade Relations (PNTR).
March 19, 2012 Read time: 2 mins
The US-based 1100 Association of Equipment Manufacturers (AEM) is calling on the US authorities to take positive action that will help boost trade with Russia.

With Russia joining the 4048 World Trade Organisation (WTO) in the coming months, the AEM is calling on the US authorities to grant Russia Permanent Normal Trade Relations (PNTR). This will allow US businesses to benefit from Russia's agreement to lower overall tariff rates, improve intellectual property enforcement and reduce barriers to trade. Unless this move is made, the AEM says that US equipment manufacturers will be at an economic disadvantage in the Russian market.

With critical transportation infrastructure in need of modernisation, Russia is a key market for construction equipment and unless the change is made, US firms will be at a disadvantage against their competitors in other nations. The AEM is encouraging the US authorities to recognise the economic necessity of Russia being given PNTR status. When Russia enters the WTO, all member states will economically benefit by having most-favoured-nation (MFN) status with Russia, except for the US. This is due to an amendment drafted in 1974, when relations between east and west were not as they are now.

For more information on companies in this article

Related Content

  • Geosynthetics revolutionise ground stabilisation
    March 13, 2012
    As powerful fabrics, geosynthetics and geotextiles have a wide range of applications in many civil engineering applications including roads and airfields. Geosynthetics specialist Tensar is introducing a radical new product that it thinks will revolutionise the construction industry. According to the company, its new product represents the "biggest advance in ground stabilisation technology for 25 years. Six years in development, it is said to offer major improvements in aggregate confinement and soil stabi
    Read More
  • IRF Manifesto on Climate Change Adaptation released at COP22
    January 30, 2017
    Released in Morocco during COP22 negotiations, the document has generated enthusiasm in the sector and gained the support of partner organisations beside the endorsement from IRF Geneva membership around the world Under the leadership of the Moroccan Government, adaptation and action on adaptation has gained centre stage at COP22 hosted in Marrakech from 8 to 18 November 2016. As climate change and the threats its poses become increasingly apparent, it is also becoming clear that the transport sector is
    Read More
  • India plans major infrastucture investment
    April 5, 2012
    India says it turned its Commonwealth Games into a world-class success, and now it aims to do the same with its infrastructure. Patrick Smith reports On October, 2010 India put itself on the world stage, and disaster appeared to loom as a catalogue of problems dogged its biggest ever sporting event. Costing nearly US$2 billion to stage, the most expensive Commonwealth Games ever were, according to some, in doubt. After years of planning some projects were incomplete, there were health scares and a br
    Read More
  • India's first construction event a huge success
    April 5, 2012
    The first bC India event has exceeded all expectations and it is set to become a regular event. Patrick Smith reports A major new construction equipment show has been launched in a nation with a huge appetite for such machinery and a growth rate nudging 9% each year. With billions being spent on infrastructure (roads and highways, power stations, railways, ports and airports), India was a prime candidate for a trade fair to display the latest and local international construction machinery, building materia
    Read More

Highlighted Content