Russia            | New Agreement Announced Expanding Russian TRQs...

Russia           

New Agreement Announced Expanding Russian TRQs

A ground-breaking agreement on meat trade in advance of Russia’s entry into the World Trade Organization (WTO) was announced today (Sept 29) by U.S. President George Bush and Russian President Vladimir Putin. Tariff rate quotas (TRQ) established earlier this year by Russia will be significantly expanded, both beef and pork variety meat products will not be bound by the TRQs, and high-quality “Hilton” products will also not count toward the TRQ tonnage.

“We are encouraged by this agreement,” commented USMEF President & Chief Executive Officer Philip Seng in a news release jointly published with the National Cattlemen's Beef Association (NCBA) and the American Meat Institute (AMI). “It provides the working framework with which to develop the practices and protocol needed for a long-term relationship.”

Seng added that the “Hilton” exemption is of particular importance since the market for U.S. high-quality beef is certain to grow now that it is untrammeled by the quota system.

USMEF currently has offices in both Moscow and St. Petersburg working with U.S. exporters and the Russian trade.

This agreement sets the stage for Russia to become a full and active member in the WTO. USMEF, NCBA and AMI agree that integrating Russia into a rules-based global trading environment will be key to advancing this trading relationship.

Russia           

New Agreement Announced Expanding Russian TRQs

A ground-breaking agreement on meat trade in advance of Russia’s entry into the World Trade Organization (WTO) was announced today (Sept 29) by U.S. President George Bush and Russian President Vladimir Putin. Tariff rate quotas (TRQ) established earlier this year by Russia will be significantly expanded, both beef and pork variety meat products will not be bound by the TRQs, and high-quality “Hilton” products will also not count toward the TRQ tonnage.

“We are encouraged by this agreement,” commented USMEF President & Chief Executive Officer Philip Seng in a news release jointly published with the National Cattlemen's Beef Association (NCBA) and the American Meat Institute (AMI). “It provides the working framework with which to develop the practices and protocol needed for a long-term relationship.”

Seng added that the “Hilton” exemption is of particular importance since the market for U.S. high-quality beef is certain to grow now that it is untrammeled by the quota system.

USMEF currently has offices in both Moscow and St. Petersburg working with U.S. exporters and the Russian trade.

This agreement sets the stage for Russia to become a full and active member in the WTO. USMEF, NCBA and AMI agree that integrating Russia into a rules-based global trading environment will be key to advancing this trading relationship.