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

  • 1st IRF Europe & Central Asia Regional Congress held on in Turkey
    November 18, 2015
    The International Road Federation (IRF) organised its first Regional Congress & Exhibition in Istanbul, Turkey on 15–18 September, 2015 The IRF is a non-governmental, not-for-profit membership organisation founded in Washington, DC in 1948 with the mission to encourage and promote development and maintenance of better, safer and more sustainable roads and road networks around the world.
    Read More
  • IPAF supports FEM position on use of cranes
    January 9, 2014
    IPAF supports the position paper issued by the Fédération Européenne de la Manutention (FEM) Product Group for Cranes and Lifting Equipment, which makes clear that tower cranes are designed and manufactured to lift loads, not people. The paper also highlights that cranes should not be used for entertainment purposes. Such rides will not be permitted at CONEXPO-CON/AGG.
    Read More
  • China looking to export construction machines
    March 16, 2012
    Chinese firms are looking to develop overseas sales but are using very different strategies – Mike Woof reports. Aggressive expansion plans will see Chinese manufacturers boosting overseas sales in coming years. These companies are developing bigger sales profiles around the world, particularly in emergent markets such as Africa, the Middle East and Latin America. It is worth noting too that Chinese products continue to gain in terms of quality and performance. For LiuGong, Sany, Shantui, XCMG and Zoomlion
    Read More
  • New approach needed in Europe to help improve motorcycle safety
    August 22, 2012
    The European Commission is proposing that part of its controversial new Anti-Tampering regulations for motorcycles should be re-written to prevent custom motorcycle builders from using long-forks. This is the latest in a series of requirements in the regulations to attracted criticisms from motorcycle manufacturers, dealers, safety campaigners and enthusiasts groups.
    Read More

Highlighted Content