Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-295-500"

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"The Russian Federation’s accession to the World Trade Organisation (WTO) has a very positive effect, since it establishes a regulated system of multilateral trade. However, its scheme for foreign investments in the motor-vehicle sector, initiated in 2005 (‘TRIMs 1’) and extended to car components in 2006, was made more stringent in 2010 (‘TRIMs 2’), to the point that it would have been, upon Russia’s accession to the WTO, declared contrary to the Agreement on Trade-Related Investment Measures. This made it necessary to conclude bilateral agreements with Russia to secure legally additional and complementary bilateral trade concessions. As such, the EU has negotiated this bilateral agreement to have a compensation mechanism for EU car-component manufacturers if the risk of falling EU exports of such products to Russia materialises as a result of Russia applying its motor-vehicle investment programme until 2018. I voted for this report for the aforementioned reasons."@en1

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