EU/Russia Agreement: trade in parts and components of motor vehicles

The European Parliament adopted a legislative resolution on the draft Council decision on the conclusion of the Agreement between the European Union and Russia on trade in parts and components of motor vehicles between the European Union and Russia.

Parliament gave its consent to the conclusion of the Agreement not without recalling that the deal on car components protects EU auto-parts companies hit by restrictive Russian measures that will remain in force even after Russia joins the WTO. These measures give foreign auto manufacturers incentives to relocate to Russia, and could discriminate against Russian imports of foreign car components.

Under the agreement, if EU exports of car parts fall by 3% a year, Russia will reduce its import duties for EU car parts by a commensurate amount.