Russian FTA to further strengthen economic growth

Media release
15 November 2010

Russian FTA to further strengthen NZ economic growth

ExportNZ welcomes the news that negotiations on a free trade agreement between New Zealand and Russia, Belarus and Kazakhstan will start early next year.

Catherine Beard, executive director at ExportNZ, says that if signed, this next agreement due to join New Zealand’s suite of FTAs is significant for a number of reasons.

“Russia is one of the world's emerging powerhouses, offering opportunities for developing New Zealand’s newer international trades such as agri-tech and specialised manufacturing.

“As far as New Zealand’s more traditional exports go, as the world's fifth-largest food importer, Russia is a great fit for New Zealand. For example, Russia is the world's largest importer of butter and cheese, and last year we provided over 50% of its imported butter.

“Russia is the 12th largest economy in the world, and a rapidly growing market.

“New Zealand looks set to be the first country in the world to have an FTA with Russia. Having first mover advantage is an opportunity not to be squandered.

“I’d urge all Kiwi companies to investigate the potential business they can gain from this latest development – FTAs are only worth something if they are used.”

Ends

© Scoop Media