Trade Minister welcomes passage of US trade deals

Trade Minister Tim Groser welcomed the passage in the United States Congress of the US's Free Trade Agreements with Panama, Colombia, and Korea. The deals were ratified overnight, with (strong) bipartisan support in the United States House of Representatives and the Senate.

“The passage of these agreements sends a strong signal to the world about the commitment of the United States to trade liberalisation and regional integration. It reaffirms the important role the United States can play as an Asia-Pacific power, especially in ongoing efforts to draw the economies of the Asia-Pacific closer together.”

“These trade agreements have been long stalled in the US Congress and linked with the provision of continuing adjustment assistance to facilitate trade liberalisation, which I note was also passed in both the House and the Senate.

In an obviously difficult international political and economic environment, it has taken skilful political management by political leaders in both Houses of Congress and the Administration to establish the consensus necessary for ratification. What is particularly pleasing is that the votes reveal a reasonably solid majority in favour of moving forward on trade.”

“This is exactly the shot in the arm that our own trade negotiations with the United States and our other partners in the TPP, or Trans-Pacific Partnership Negotiations, need. We have a few more weeks before the APEC Meeting in Honolulu where Trade Ministers, and APEC Leaders, will have an opportunity for a high level political stocktake of the negotiations. TPP provides yet another outstanding long-term trading opportunity for New Zealand. We look forward to conclusion of a high-quality, forward-looking Trans Pacific Partnership agreement that will generate jobs across the region, make it easier for firms to get ahead, and provide a possible pathway to achieving an eventual Free Trade Area of the Asia Pacific. We are encouraged by these developments in Washington and look forward to continuing to work closely with the United States.”