Australian Exporters Set to Gain from WTO Deal with Russia

"Australian exporters will benefit from better access to the Russian market following Australia's successful bilateral market access negotiations with Russia", the Deputy Prime Minister and Minister for Trade, Mark Vaile said today.

The signing of the bilateral agreement in Geneva marks the end of bilateral negotiations between Russia and Australia during the process of Russia's application for membership of the World Trade Organization.

"The outcomes will improve trading conditions for Australian exporters and help provide a secure basis to expand our exports. The deal covers Australian export interests in both goods and services and will enhance access for Australian exports in areas such as meat products, wine, wool, alumina and seafood, as well as mining software and services. The deal will take effect when Russia joins the WTO."

"Russia is a growing market for Australia's exports. In 2005, merchandise trade between Australia and Russia grew nearly 80 per cent to around $436 million, and services trade totalled $97 million," Mr Vaile said.

"It is timely that we have concluded our bilateral agreement just as Australia Week gets underway in Moscow from 11 June, providing opportunities to further develop trade and investment between Australia and Russia."

Mr Vaile said, "Russia has yet to complete bilateral negotiations with a small number of other WTO members, and is still negotiating the overall terms of its membership. Australia is working hard with other WTO members to resolve outstanding issues and looks forward to Russia becoming a WTO member."

Contact: Mr Vaile's Office 02 6277 7420, Departmental 02 6261 1555, Austrade 02 9390 2701