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Russia and New Zealand agreed to commence Free Trade talks in May 2010. This was announced following a visit to Moscow by Trade Negotiations Minister Tim Groser.
This is an exciting development in terms of the potential for New Zealand exporters and anyone interested in international trade and finance.
Coming hard on the heels of the Free Trade Agreement with China (1st October 2008), this would be another significant trade agreement for New Zealand.
For New Zealand,
as the world's largest dairy exporter,
the advantages are clear in having a Free Trade Agreement (FTA) with the world's fifth largest food importer.
For Russia, the main incentive is establishing an FTA with a western nation
as it moves forward with it's application to join the World Trade Organisation.
According to reports following his recent visit,
Tim Groser indicated that the Russia New Zealand Trade Talks process would not be easy and that it would take at least 2 years.
The agreement is apparently likely to include Belarus and Kazhakhstan as well.
We will be following the process with interest and will hopefully build up some useful resources as we go.
Click here for our Russia Trade Talks Resource Page