Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-293-000"
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"en.20120704.25.3-293-000"2
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"The EU exports about USD 9 billion of car parts to Russia. Investors who are involved in infant industries in the automobile sector in Russia are exempted for a transition period from the general WTO rules because of high start-up costs and lack of competitiveness. This means that Russia, which is joining the WTO, can apply temporary protective customs duties. However, extending this period excessively and/or the use of returns to scale by Russian producers, for example by extending markets to Kazakhstan and Belarus, could result in a decrease of imports from the EU and in effect a delocalisation of production.
In order to avoid this eventuality, the agreement provides for a transition compensation mechanism by which Russia, when importing these parts and assemblies from the EU, will reduce the customs tariff by the amount of any reduction in these imports, once this reaches 3% of certain thresholds. On the other hand, companies in that country were or may still be subsidised by the state, which could increase their competitiveness artificially. For this reason a compensation mechanism is required. This is also a signal to EU producers to invest in innovation during the transition period or for example to increase returns to scale. The agreement is beneficial for EU industry and for this reason I voted in favour. It would be good if the Union’s customs zone learned from the Russian example and defended the EU’s economy more effectively."@en1
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