TPP High On Agenda for PM’s Visit to Washington

by | Jun 16, 2014 | Uncategorized

Remove

Prime Minister Key leaves for Washington this week.  He needs to take with him a strong message on TPP – the deal can be finished only if there is an ambitious outcome on the table and only if all share equally in the benefits.  There is no room for dodgy bilateral deals on the side of TPP.

The Prime Minister’s visit takes place as reports abound of the imminent demise of TPP.  Such reports are greatly exaggerated.  While some momentum has certainly been lost in recent months, TPP is still very much a “live” negotiation and economies are re-engaging in a flurry of bilateral consultations in advance of another Lead Negotiators’ gathering in July.

A quick and dirty end to the negotiation serves no-one’s interest, especially not New Zealand’s as we push for a high quality, ambitious and comprehensive outcome, one that advances our market access needs in Japan, the United States, Canada and Mexico.  The recent Australia-Japan FTA has set a low benchmark for tariff elimination in products of interest to New Zealand like beef and dairy products – this cannot be accepted as a basis for TPP.  If, as some are suggesting, the United States has conceded to Japan that TPP might not be fully comprehensive, then as Trade Minister Groser has suggested, these two need to demonstrate how the goal of a high quality agreement can be reached.  The US and Japan also need to be unequivocal that benefits of tariff elimination in TPP will apply to all parties. It is only on this basis that others can reasonably be expected to participate in the wider rule-making process.

At the same time New Zealand needs to pay close attention to those new trade rules – they need to be made in a way which meets the needs of our economy in terms of encouraging investment, promoting innovation, fostering competition, reducing costs and improving the ease and speed of doing business.  New Zealand has interests beyond market access even if tariffs on agricultural products are the most visible benefits from a successful TPP.  Getting this right – and in a way that avoids unintended consequences – takes time.

REGISTER WITH TRADE WORKS

Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.

 

Remove

 

Latest News

NZIBF 2022 Chair Report

ANNUAL GENERAL MEETING 2022 CHAIR’S REPORT I am pleased to present my second report on the activities and achievements of the NZ International Business Forum (NZIBF) for 2022-23, our fifteenth year of operations.  At the outset I would like to thank Members for...

NZ BUSINESS LEADERS AT APEC 2022

New Zealand business will be represented at the APEC Leaders’ Week in Bangkok, commencing 13 November, by members of the APEC Business Advisory Council (ABAC). New Zealand’s three members – Rachel Taulelei, Malcolm Johns and Anna Curzon – supported by Stephen Jacobi...

Submission to MFAT for CPTPP Review

30 September 2022 Phil Mellor Economic Division, Ministry of Foreign Affairs and Trade, Wellington (By email) Dear Phil, Thank you for your email of 1 September, seeking our comments on the three year review of the Comprehensive and Progressive Agreement for Trans...

WHAT’S IN A NAME?

The now widespread use of the term “Indo Pacific” to describe the region to which New Zealand belongs brings a risk of geographical confusion. When did the “Asia Pacific” become the Indo Pacific?   For thirty years or more New Zealand has sought to enhance...

NZ Herald: Turbulence in global trade

Amidst the political topsy turvy of recent weeks came the news that the Government has refreshed its Trade Recovery Strategy.  That’s good news because, for exporters and the global economy as a whole, it’s tough out there. The pandemic is by no means over, there...

Address to World Affairs Forum, 22 August 2022

ADDRESS TO THE WORLD AFFAIRS FORUM AUCKLAND, 22 AUGUST 2022 STEPHEN JACOBI EXECUTIVE DIRECTOR NZ INTERNATIONAL BUSINESS FORUM TURBULENCE IN GLOBAL TRADE Thanks to Greg Thwaite for inviting me to speak to you this evening. It’s good to be back in the habit of meeting...

Trade and Climate Change: State of Play

TRADE AND CLIMATE CHANGE: STATE OF PLAY. A discussion paper prepared for the NZIBF by Adrian Macey, June 2022. Download here. Update: NZ-EU FTA The NZ-EU FTA has been finalised.  Article X.6 of the  trade and sustainable development chapter is on trade and...