Russian Wine Analysis
...(Department of Foreign Affairs and Trade 2008)
• Since 2000, Russia has adopted a more assertive stance on foreign policy (Department of Foreign Affairs and Trade 2008)
• Russia is a permanent member of the United Nations Security Council
• Russia is a member of the
o G8
o Asia-Pacific Economic Cooperation
Economy:
• Russia has been undertaking WTO accession negotiations since 1995
• In 2007, Russia’s GDP grew 8.1 per cent to reach US$1.29 trillion (Department of Foreign Affairs and Trade 2008)
• Russia’s current account surplus is expected to be US$76.6 billion (Department of Foreign Affairs and Trade 2008)
• Inflation was 9.0 per cent in 2007 (Department of Foreign Affairs and Trade 2008)
Trade Relationship with Australia:
• Australia and Russia signed a bilateral agreement in relation to Russia’s WTO accession in June 2006 (Department of Foreign Affairs and Trade 2008)
• Australia and Russia concluded a bilateral Double Taxation Agreement, which came into effect in Russia on 1 January 2004 and in Australia on 1 July 2004 (Department of Foreign Affairs and Trade 2008)
• Both countries wants to stimulate the flow of investment in both directions by concluding negotiations on an Investment Protection and Promotion Agreement (IPPA) (Department of Foreign Affairs and Trade 2008)
• The IPPA has not yet been concluded
• Two-way merchandise trade between Australia and Russia was worth $788 million in 2007, which means an increase of 9.7 per cent on the previous year (Department of Foreign Affairs and Trade 2008)
• Key Australian exports to Russia in 2007
o Meat (Kangaroo)
o Raw hides and skins
o Live animals
• Australia’s exports of services to Russia in 2006-07: $85 million AUS (Department of Foreign Affairs and Trade 2008)
• Russia’s exports of services to Australia in 2006-07: $74 million AUS (Department of Foreign Affairs and Trade...
View Full Essay
