December 02, 2008

Russia and China likely to reach understanding on pipe imports

Interfax reported that the Russian Pipe Industry Development Fund expects to sign an agreement with China Iron & Steel Association on imports of pipes to Russia's domestic market by the end of September 2007.

Mr Alexander Deineko director of Russian Pipe Industry Development Fund at a press conference in Chelyabinsk said that "We want to encourage the conclusion of an agreement on parameters of the presence of China's pipe products on the Russian market. This work has been under way over the previous three or four months. The latest trip to China was in late August. We hope that our Chinese counterparts will come here and we will sign an agreement by the end of September."

He added that if such an agreement is not signed, Russia is determined to reserve the right to impose restrictions on imports of pipe products from China.