Russia Pact Gives EU Exclusive Benefits On Wood, Car Parts

Law360, New York (May 31, 2012, 2:16 PM EDT) -- The European Parliament’s International Trade Committee endorsed four agreements with Russia on Wednesday that give the European Union exclusive trading benefits in four sectors, including wood exports.

The four bilateral agreements, which also include trade in car parts, duties on raw materials and the services market, are more favorable to the EU than they have to be under World Trade Organization rules, according to a statement from the committee.

The WTO invited Russia into its ranks in December, and the country is expected to formally join...
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