NZIBF Welcomes Russia FTA Negotiation

The New Zealand International Business Forum welcomed the announcement in Yokohama yesterday that New Zealand is to start free trade negotiations with Russia and its Customs Union partners, Belarus and Kazakhstan.

"This is another step forward in securing New Zealand's trading future," said NZIBF Executive Director Stephen Jacobi who attended APEC meetings in Yokohama, Japan, where the announcement was made.

The announcement follows a process of consultations between New Zealand, Russia, Belarus and Kazakhstan, which commenced in May 2010.

"Russia along with its Customs Union partners are emerging markets for New Zealand but there is ample scope to increase New Zealand exports of food and agricultural products and to promote two way trade and investment”.

Mr Jacobi said that Russia’s hosting of APEC in 2012 was driving a greater focus on the Asia Pacific region and New Zealand now had a unique opportunity to enhance the relationship with a major global power.

“New Zealand always does best when we are the first to negotiate. When we have to wait behind others we can be waiting a long time. We congratulate Trade Minister Groser and his officials for their leadership and the Governments involved for their foresight in opening up this new opportunity”.

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