European Union and Russia Sign Trade Agreement on Steel Products
added: 2007-10-29
The European Union and Russia reached an agreement on trade in certain steel products at the EU-Russia Summit in Mafra, Portugal. The deal was signed for the European Union by Trade Commissioner Peter Mandelson and Portuguese Foreign Minister Luis Amado on behalf of the EU Presidency, and on the Russian side by the Minister of Trade and Economy, Elvira Nabiullina. The two sides agreed on quota levels for 2007 and 2008 on certain flat steel and long steel products, in order to replace autonomous EU measures that had been in place since January of 2007. Quota levels were raised to take into account the enlargement of the European Union with Bulgaria and Romania, as well as to cover deliveries to steel service centres in EU member states.
