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Quotas on Russian steel exports to EU to grow 15% in 2007

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Quotas on Russian steel exports to the European Union are to grow 15% in 2007, an economics ministry official said Friday.
MOSCOW, March 23 (RIA Novosti) - Quotas on Russian steel exports to the European Union are to grow 15% in 2007, an economics ministry official said Friday.

Veronika Nikishina, chief expert on access to foreign markets at the ministry's trade negotiations department, said the European Commission's corresponding agreement for 2007-2008 could be signed in April.

"We want to sign the agreement in April," she said. "There is understanding between us and the European Union, and we think we should speed up the signing of the agreement."

She added that the quota will be up 15% from 2.2 million metric tons of steel products exported last year, and that there would another increase in 2008.

Among other things, the substantial quota increase is possible due to the inclusion of Russia's steel deliveries to its traditional partners, Romania and Bulgaria, new members of the EU.

Nikishina said that the wording of the agreement, which had already been coordinated with the European Commission, should be initialed by all 27 members of the European Union.

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