Russia's WTO Membership Impending

Trade Minister Tim Groser today welcomed Russia’s imminent membership of the World Trade Organisation (WTO).

“New Zealand is extremely supportive of Russia’s imminent membership of the WTO”, Mr Groser said. “We have long advocated for Russia’s membership and have worked hard over many years to bring that about. We were the first developed country to conclude our bilateral goods negotiations for Russia’s accession in 2003.”

The WTO Working Party on Russia’s accession today adopted the accession package that will allow Russia to formally accede to the Organisation at the 8th WTO Ministerial Conference next month. The package will now be referred to the Ministers of WTO Members for approval at the Conference.

“The finalisation of this package represents a significant step for the WTO. Russia’s membership will ensure that all of the world’s major economies will be WTO members.”

Russia’s membership of the multilateral rules-based trading system will be complemented by New Zealand’s current bilateral free trade negotiations with the Russia-Belarus-Kazakhstan Customs Union.

“The FTA negotiations will also deliver significant benefits to our relationship with Russia, leading to faster growth for our trade with one of the world’s leading emerging global economies. Negotiations are on track to conclude next year.”