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Textile sector expects free trade pact with Russia to enhance exports
23
Nov '10
Textile industry of New Zealand hopes that a free trade pact with Russia is expected to strengthen its wool exports. The New Zealand government would begin official negotiations regarding the trade pact with Russia and its intended associates in the customs union, since 2011.

Though, dairy products, particularly butter and cheese, continue to remain the country's major exports to Russia, but then it even exports large quantities of wool to Russia.

The textile sector of the country is optimistic about restoring the business, with a focus on finished goods in general and woollen items in particular.

Also a group of trade representatives from New Zealand which visited Russia in the beginning of this year met with a positive response there.

If the country successfully inks this trade pact, it would help the textile sector by enabling it to overcome some of the price barriers.

All the seven textile and clothing firms, together with the two firms vending merino wool-possum fibre products, which happened to be a part of the trade delegation, succeeded in receiving orders from Russia.

Fibre2fashion News Desk-India

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