Textiles NZ says the trade mission it led to Moscow this month resulted in several joint venture proposals between New Zealand and Russian firms.
Chief executive Elizabeth Tennet said the Russian carpet manufacturing industry had collapsed in the post-Soviet era.
Russia wanted to resurrect that industry, she said.
"They arelooking to buy more wool and they're also looking to enter into joint ventures with New Zealand companies."
She said all the delegation members received serious business proposals from Russian firms.
The mission included representatives of Canterbury Leather, Wool Equities, Designer Textiles, Possumdown and Manukau Knitting Mills.
Mike Langhorne, managing director of Possumdown, an Auckland-based manufacturer of possum knitwear, said he was now in talks with a Russian company over a possible joint venture.
He would not name the Russian firm, or give any more details about the joint venture, but said Possumdown had also entered talks with Russian retailers and distributors.
"[Russian's] love fur," Langhorne said.
"It gets extremely cold there and there's a lot of money around.
"A lot of people are under the misconception that Russia is difficult to deal with and bureaucratic and corrupt ... that's actually far from the truth."
Tennet said she was unable, for privacy reasons, to name the other New Zealand delegation members now involved in joint venture talks.
The visit coincided with Trade Minister Tim Groser's talks in Moscow, with his Russian counterpart, over a proposed Free Trade Agreement between the two countries.
Tennet said Russia currently placed tariffs of up to 55 per cent on finished New Zealand textiles and up to 140 per cent when Kiwi exporters worked through local distributors.
"In our discussions with the Russian companies, they also were very pleased at the prospect of the FTA and the reduction of those tariffs and duties."
She said an FTA would also make it easier to build business relationships between New Zealand and Russian firms.
Federated Farmers meat and fibre chairman Bruce Wills said only a small amount of New Zealand wool and wool products were being exported to Russia.
"If Russia's showing interest that will be great news to sheep farmers and wool growers."
