Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-296-468"
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"en.20120704.25.3-296-468"2
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"I voted for the conclusion of the Agreement between the EU and Russian Government on trade in parts and components of motor vehicles. The EU has negotiated this bilateral agreement to have a compensation mechanism for car component manufacturers if EU exports of such products to Russia decline as a result of the implementation of the Russian car investment programme until 2018. Triggering the compensation mechanism (Article 5) entails that, if EU exports of some car parts and components to Russia fall by 3% during a 12-month period compared to a benchmark calculated on the basis of EU exports to Russia in 2010, Russia must allow the import of parts and components of EU origin at reduced import customs duties in quantities equal to the decrease in EU exports. The compensation mechanism is applied for a minimum period of 12 months and is subsequently reviewed once every 12 months. In exceptional economic circumstances, measured by a significant fall in the total number of new car sales in Russia in the year when the mechanism was triggered, compared to the preceding year, as defined in the agreement, the compensation mechanism does not apply. Russia will administer the compensation quotas by means of an import licensing system."@en1
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