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

  • India’s IRTE wins top Prince Michael of Kent Safety Award
    July 4, 2019
    India’s Institute of Road Traffic Education (IRTE) was among the international winners at the annual Prince Michael International Road Safety Awards in London. IRTE picked up the Premier Award for its road injury prevention programme and for being a key partner in the Safer Cars for India project established by Global NCAP, an independent certification body that evaluates the safety of vehicles. Part of IRTE’s strategy has been the setting up of what is believed to be Asia’s first Masters of Science i
    Read More
  • Senior ADB figure urges governments to act on sustainable transport
    September 27, 2013
    Multilateral development banks (MDB) are determined to do all they can to encourage governments of developing countries meet key sustainable transport targets, according to a senior figure at one of the world’s biggest MDB’s. Guy Woodford reports Tyrrell Duncan, Asian Development Bank’s (ADB) director of Transport and Communications Division, East Asia has been at the forefront of MDB efforts to enhance sustainable transport and road safety in developing countries. Speaking during a break in talks at the In
    Read More
  • Building Georgia’s transport connections to its neighbours
    October 26, 2016
    Georgia’s government aspires to turn the country into a regional transport-transit hub, and with renovated and expanded transportation infrastructure it knows that the country can offer significant opportunities to others in the region, and globally – Gordon Feller writes The Caucasus Transit Corridor (CTC) is the key transit-route between Western Europe and Central Asia for oil and gas, as well as dry cargo. CTC is part of TRACECA (TRAnsport Corridor Europe to Central Asia). This is the shortest route
    Read More
  • Russia's key highway development project
    February 8, 2012
    One of the largest construction programmes in Europe is being carried out to get a Russian resort ready for the Winter Olympics. Patrick Smith reports
    Read More

Highlighted Content