Minister of Trade Todd McClay has welcomed the second reading of the Trans-Pacific Partnership Agreement (TPP) Amendment Bill in Parliament today.
“TPP is our biggest trade deal to date, and presents a huge opportunity for our economy, adding an estimated $2.7 billion a year to New Zealand’s GDP once it has been fully phased in,” says Mr McClay.
Trade Minister Todd McClay says New Zealand and Australia have outlined a series of initiatives and agreed a process to reinvigorate the New Zealand-Australia single economic market agenda.
"The Closer Economic Relations agreement (CER) with Australia was New Zealand's first free trade agreement over thirty years ago, and today we are two of the most integrated economies in the world.
"The single economic market agenda is about reducing barriers and encouraging trans-Tasman economic growth," says Mr McClay.
Trade Minister Todd McClay will visit China and Hong Kong for a series of trade discussions, and participate in the Regional Comprehensive Economic Partnership (RCEP) Ministerial meeting in Cebu, Philippines.
Trade Minister Todd McClay and EU Trade Commissioner Cecilia Malmström have agreed on the importance of working in the World Trade Organisation (WTO) towards reducing non-tariff barriers (NTBs), addressing harmful fisheries subsidies that contribute to over fishing, and reform of domestic support in agriculture.
"Commissioner Malmström and I are committed to progressing these important issues in Geneva as part of preparations for the next WTO Ministerial Conference in 2017," say Mr McClay.
Trade Minister of Todd McClay has established a trade policy dialogue with his United Kingdom counterpart, Secretary for International Trade Liam Fox in London today.
"For New Zealand, this is about being ready to cement our formal trading relationship with our fifth largest trading partner, once the UK is in a position to negotiate independently of the European Union.
"I discussed with Secretary Fox the importance of remaining closely engaged, particularly as New Zealand advances our priority of a free trade agreement with the European Union.
Trade Minister Todd McClay has announced a review of New Zealand’s Free Trade Agreement (FTA) with South East Asia, which has helped increase trade with the region by 25 per cent since 2010, saying he was concerned that New Zealand businesses are “leaving money on the table”.
The ASEAN-Australia-New Zealand FTA (AANZFTA) covers New Zealand, Australia, Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam.
Trade Minister Todd McClay travels to Europe tomorrow for discussions on trade with the European Union (EU) and the United Kingdom (UK).
Mr McClay will visit London to meet UK Secretary of State for Trade Liam Fox, to discuss post-Brexit trade relations, and will further progress an EU-New Zealand Free Trade Agreement (FTA) with EU Trade Commissioner Malmström in Norway.
Trade Minister Todd McClay today continued engagement with iwi leaders at a Rotorua hui on the refresh of the government's Trade Policy Strategy.
Trade Minister Todd McClay is calling for the public and businesses to actively engage in the trade agreements being negotiated by New Zealand, and to play a direct role in the way they are shaped.
Next week, there is an opportunity to learn more about the negotiations on the Trade in Services Agreement (TiSA), which will make it easier for New Zealand services exporters to do business in international markets.
Trade Minister Todd McClay and his Saudi Arabian counterpart, the Minister of Commerce and Investment, have agreed to work towards early completion of the Gulf Cooperation Council (GCC) - New Zealand free trade agreement (FTA).
"This is an extremely pleasing outcome from my mission to Saudi Arabia. We can now see a way forward towards the completion of the FTA," says Mr McClay.
Minister of Trade Todd McClay today welcomed the rapidly widening commercial engagement between New Zealand and the United Arab Emirates and said the two governments were committed to growing the trade relationship further.
Mr McClay is leading a New Zealand business delegation to Dubai and Sharjah in the UAE and Riyadh in Saudi Arabia.
The UAE is the gateway for many New Zealand businesses into the Middle East and North Africa, and our eleventh largest trading partner with two-way goods trade of around $1.3 billion
Minister of Trade Todd McClay says he is encouraged by prospects for New Zealand’s beef and horticultural exports to Indonesia following a meeting with his counterpart in Jakarta today.
Mr McClay is currently in Indonesia, where he met for the first time with the new Indonesian Minister of Trade Enggartiasto Lukita.
Minister Lukita took office at the end of July.
Trade Minister Todd McClay travels to Indonesia and the Gulf this week.
In Indonesia, Mr McClay will meet with new Trade Minister Enggartiasto Lukita, as well as deliver a keynote speech at the World Renewable Energy Congress.
“I am pleased to be returning to Indonesia and look forward to continuing our productive discussions on bilateral trade priorities, including market access for New Zealand beef and horticultural exports,” says Mr McClay.
Trade Minister Todd McClay says more discussions are now needed between officials on the Pacer Plus trade agreement.
Trade Minister Todd McClay is traveling to Fiji next week to attend the Fiji-New Zealand, Fiji-Australia Joint Business Council Conference and to progress the Pacific Agreement on Closer Economic Relations (PACER) Plus free trade agreement.
“Good progress was made by the 16 participating countries in Christchurch recently when the negotiating texts were agreed, however the momentum needs to be maintained in order to ensure the benefits of PACER Plus are available to all Pacific Island countries and their citizens,” says Mr McClay.
Trade Minister Todd McClay has announced two further public sessions on the Trade in Services Agreement, to be held in Christchurch and Dunedin in early October.
“South Island businesses make a significant contribution to New Zealand’s services export performance. TiSA represents a significant opportunity for all services firms looking to expand their export activity,” says Mr McClay.
The sessions follow on from similar events held in Wellington and Auckland in June.
Trade Minister Todd McClay has called a series of meetings where the public can share their views on the shape of a refreshed Trade Policy Strategy for New Zealand.
“Our current strategy has been in place for 20 years. It has been a key driver of the Free Trade Agreements we have negotiated with China, Korea, Singapore, Brunei, Thailand, Malaysia and ASEAN, as well as agreements with Hong Kong and Chinese Taipei, as well as valuable results from the WTO that are delivering significant benefits for New Zealanders,” says Mr McClay.
Trade Minister Todd McClay has welcomed the progress made towards finalising a landmark trade and development agreement for the Pacific region.
Senior representatives from 16 countries met today in Christchurch to negotiate the final terms of the ‘Pacific Agreement on Closer Economic Relations Plus’ (PACER Plus) agreement, which aims to create jobs, raise standards of living and encourage sustainable economic development in the Pacific region.
Trade Minister Todd McClay will Chair a meeting of Trade Ministers and senior representatives from 16 countries in Christchurch on Friday 26 August to negotiate the final terms of a trade and development deal for the Pacific region, called the Pacific Agreement on Closer Economic Relations Plus (PACER Plus).
“This agreement is of significant importance to the economic integration and prosperity of the region,” says Mr McClay.
Trade Minister Todd McClay today issued a call for public submissions on the likely impact of Brexit on New Zealand businesses that export goods or services to the United Kingdom, or which have investments in the United Kingdom.
This follows the referendum on 23 June 2016 that saw the UK electorate vote to leave the European Union – a result that is now being implemented by the British Government.
Trade Minister Todd McClay is travelling to Laos today to participate in a series of Ministerial meetings in the capital city of Vientiane, including the fourth Regional Comprehensive Economic Partnership (RCEP) FTA Ministerial Meeting.
“Following New Zealand’s hosting of the 13th RCEP round in Auckland in June, the Ministerial Meeting will review the overall state of negotiation and look to address key issues, including in services, investment and goods,” says Mr McClay.
