IMPORTANT TO LITHUANIA NEGOTIATIONS ON TRADE IN STEEL BETWEEN EU AND RUSSIA COMPLETES
Created 2004-03-19
After intense consultations between the representatives of the European Union (EU) and Russia on amendment of the Agreement on Trade in Certain Steel Products, an important compromise was reached, allowing to increase the steel import quotas from Russia in consideration of traditional flows of steel products to Lithuania and the other nine new EU member states.
The 133 Committee (Steel) of the European Council approved such result of the negotiations on its session of 18 March.
Considering the flows of steel imported from Russia to Lithuania, the negotiations on the increase of steel quotas had a major significance for Lithuania.
Besides the overall increase in steel import quotas from Russia, Lithuania has officially applied to the European Commission asking to increase the steel quota to the joint Lithuanian-Russian enterprise Nemunas.
During the negotiations, an additional quota of 42 000 tones of steel was granted to the enterprise Nemunas. That was the quota requested by Lithuania, diminished by 12 percent because of the analogous export duties on scrap-iron applied by Russia.
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