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

  • Out with Russian bureaucracy, in with foreign road investment
    September 27, 2013
    Transport journalist Eugene Gerden reports on why foreign companies are likely to become keener to invest in Russia’s huge array of major road construction projects The Russian government led by president Vladimir Putin is stepping-up its efforts to get greater foreign company investment in Russian road building by creating favourable trading conditions, including the elimination of bureaucratic and administrative barriers.
    Read More
  • Russia’s trans-continental route
    August 10, 2018
    Russia is spending US$10 billion on building a 2,000km section of road connecting China with the EU – Eugene Gerden reports Russia has now started building a 2,000km section of a new transcontinental route, which will connect China and the EU. According to senior officials from the Russian Ministry of Transport, which is implementing the project, the new road, will be known as the Meridian and will stretch through the Russian territory that borders with Kazakhstan and Belarus. This route forms the Russian
    Read More
  • Zoomlion develops key strategy for expansion
    June 10, 2015
    The implementation of a new strategy looks set to lead to strong development among infrastructure-related industries in export markets for Chinese firms. And as an industry leader in the production of construction machinery, Zoomlion has long been preparing to compete against the major international companies At the bauma China 2014 event in Shanghai, Zoomlion gave an insight into its international ambitions according to the firm. At the show, the senior director in charge of Zoomlion overseas business,
    Read More
  • Certified safe: ARTBA president talks future highways and safety
    January 16, 2020
    What keeps Dave Bauer* up at night? David Arminas caught up with the head of ARTBA at his Washington D.C. office during daylight hours
    Read More

Highlighted Content