US Wants to Ban Russian Import Substitution

0 39

Translated by Ollie Richardson for Fort Russ

8th June, 2016


A letter from the US Committee on the investment measures of the WTO with questions about 13 Russian documents governing the import substitution in the field of automotive industry, engineering, and information technology (at the disposal of Life.Ru) said that the proposal of the Russian government may be contrary to “the Agreement on investment measures relating to the trade regime” (TRIMs). Compliance with this document is binding for all countries participating in the World Trade Organization.

- Advertisement -

In the complaint to the WTO, the US asked to confirm or dispel these fears. As a reminder, on January 28th, 2015, the government of the Russian Federation approved “the plan of priority measures for the sustainable economic development and social stability in the country”. An important part of the document was to support import substitution and the export of a wide range of manufactured goods, including high-tech.

According to the Americans, “Article 2 of the document, “National treatment and quantitative restrictions” indicates that the participating countries can apply measures aimed at granting preferential treatment to local goods in relation to goods imported, to introduce restrictions on the purchase of imports associated with the volume and value of exported goods and goods of local origin”.

Therefore, the partner of the “Zamoskvorechye” legal office, Dmitry Shevchenko, announced possible claims made by the US. In fact, Americans believe “that many of the provisions of the Russian government’s anti-crisis plan is related to state procurement and goes beyond the scope of TRIMs”.

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.

Get real time updates directly on you device, subscribe now.