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

  • Attitude is key to sustainability, says Volvo CE’s Thomas Bitter
    June 27, 2018
    Whether you are in the global Volvo Ocean Race or working on-site locally, sustainability is about attitude as much as technology. David Arminas reports. Technology, sustainability and safety. We ignore these often related themes at our peril. This was the key point made by Volvo Group chief executive Martin Lundstedt during his brief opening presentation at the start of the Building Tomorrow Conference in Spain last October. The conference took place within the harbour of Alicante that was bustling wit
    Read More
  • European construction machine exports down 15.8% Jan 1-May 31 2013
    August 28, 2013
    European construction machine exports fell 15.8% between January 1 and May 31 2013 to €11.049 billion from €13.096 billion over the same period of 2012, according to new CECE (Committee for European Construction Equipment) figures supplied to World Highways. Germany was the biggest Europe-based export market for European construction machines importing €1.107 billion worth of machinery – down 14.1% on €1.288 billion over the same period the previous year. France was the second biggest Europe export market i
    Read More
  • Powered two wheeler safety plan for Europe
    November 16, 2015
    A new road safety strategy for powered two wheelers in Europe has been set out jointly following discussions. The results of analysis have been set out in a joint position statement by the bodies FEMA, FIM and FIM Europe. In the draft report FEMA and FIM have identified seven major areas of great importance that are in accordance with the positions of the riders’ organisations in Europe and elsewhere. Key recommendations and statements from the OECD-ITF draft report highlight issues for the safety of powe
    Read More
  • Metso looks to develop its international profile following its recent demerger
    March 12, 2014
    Metso CEO and president Matti Kähkönen explained how the company is evolving - Mike Woof reports Finnish crushing and screening specialist Metso is looking to expand its worldwide operations following the recent demerger of the group. CEO and president Matti Kähkönen said that Metso has been a multi-industry business for the last 14 years. The firm’s biggest divisions have been the joint construction and mining division and the pulp and paper business, with its automation sector being the smallest of the
    Read More

Highlighted Content