Higher steel quota expected for Russian exports into the EU
Negotiations regarding the steel export quota for
Russia for the year 2005 are succesfully being held between the Russian and European authorities, as confirmed by various sources in the press.
According to reports, the negotiations are expected to complete towards the end of November and the quota figure for Russian steel exports into the EU will be finalized by that date. The Economic Development and Trade Ministry's press service stated that the parties have already agreed on the quantities of all individual steel items roughly. After completion of the detailed quantity allocations the agreement will be signed between Russian Government and the European Commission.
Russia has also been granted the liberalization from the provisions of the agreement relating to Russian profiled iron supplies to the European market. It is stated that the agreement to be signed before the end of 2004 will remain valid until
Russia's accession to the WTO.
Back in July 2004,
Russia signed an addendum with the EU under which it was granted an additional 438'216 mts against the existing level of 1.384 million tons previously set for 2004. Such increase was granted taking the EU enlargement into consideration. This total figure of 1.8 million mts is expected to be further increased for the year 2005.