b'5. The UK leaving the EU5.1. The Russian Federation Russia provides a relevant historic example. When the USSR broke up in 1991, all the trade agreements that had been made with the USSR were transferred quickly and smoothly, within a matter of weeks, to the new Russian Federation. Even the Soviet Unions trade agreement with the United States, signed in 1972 and updated with a further agreement in 1990, was adjusted and transferred to an independent Russian Federation in June 1992. (This agreement provides for reciprocal most favoured nation (MFN) treatment for each countrys products.)Two decades later, in 2012, the Russian Federation joined the WTO.20 5.2. Greenland Greenland became part of the then EECThe Greenland Treaty, signed in 1984, when Denmark joined in 1973. Thisallowed Greenland to leave; however, this was because Greenland was financiallywas after considerable negotiations. After dependent on Denmark and governed fromthese negotiations, Greenlands withdrawal Copenhagen. It is relevant that over 70% offrom the EU became effective on 1 February Greenlands voters voted against joining the1985. The EU granted Greenland the status EEC in 1973.of an Overseas Territory. The EU also signed a tailor-made FTA with Greenland known In 1979 Greenland became a self-governingas The Greenland Fisheries Partnership province of Denmark. This enabledAgreement (FPA). (Greenlands exports were Greenland to determine its own status withthen largely fish and fish products.) the EEC. The FPA had a 10-year duration; Greenland In 1982 Greenland held a consultativehad the ability to renew the FPA automatically referendum on its membership of thefor periods of six years. The FPA remains in EU. The result was 53% of Greenlandersforce to this day.22voted to leave the EU. The vote against EU membership may have been in part due toManyincluding the US Geological Survey the EUs attempts to ban the hunting of seals consider that Greenland has substantial and whales. Greenland now does not havemineral resources. These are as yet to follow the EUs regulations on endangereduntapped. Greenland is in talks with China species.21 on investment. Greenland is able, at some stage, to enter into a FTA with China. This is167'