Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Liberalisation in the Global Trade in Services

Fonterra Supports Further Liberalisation in the Global Trade in Services

"Fonterra fully supports the New Zealand government in the WTO services negotiations under the General Agreement on Trade in Services (GATS)", Chief Executive Craig Norgate said today. "We agree with the ten guiding principles that will provide the basis for New Zealand's initial offer to WTO members".

"Although concerned principally with liberalisation in the international trade of goods, specifically in agriculture, Fonterra recognises the value in ensuring that there is a set of clearly defined rules that bring transparency and consistency to the way New Zealand's trading partners regulate trade in services".

Furthering the reform of services trade begun in the Uruguay Round will have particular benefit for Fonterra in the area of business services and transport, two issues that have been highlighted by the New Zealand government in its initial work on the WTO services negotiations.

Mr Norgate noted that Fonterra is an international business with operations in well over 100 countries and over 20,000 employees. "It is vital that our subsidiaries and people can operate freely without discrimination from local regulations". Such barriers may include restrictions on the scope, scale or structure of our companies or impediments to an individual's ability to work offshore in a particular sector.

With customers and operations in more than 140 countries and more than 50 per cent of its employees offshore, Fonterra also has a keen interest in the liberalisation of transportation and communications services. The ability to access the most cost-competitive, innovative and efficient services in these sectors plays an important role in mitigating the inherent disadvantage that New Zealand exporters face due to our geographic isolation.

Global trade in services has grown significantly over the past decade, with its share of total international trade destined to rise in the years ahead as technological advances in areas such as telecommunications make the world a smaller place. Fonterra believes it is imperative that the General Agreement on Trade in Services continues to evolve in recognition of this trend.

© Scoop Media

Business Headlines | Sci-Tech Headlines


A Fuel And His Money: Petrol Prices Hit Records

The cost of 91 octane in Wellington and the South Island hit $2.30 a litre last week, beating the previous high set in 2013. Crude oil prices have been rising globally while the New Zealand dollar has fallen, making the cost of fuel more expensive. More>>


NZentry: EU And NZ To Start Free Trade Talks

A free trade deal between New Zealand and the European Union (EU) has taken a major step forward with the announcement overnight that the EU’s Foreign Affairs Council has approved its negotiating mandate. More>>


You'd Hope: Employers Told To Pay Minimum Wage

Advertisers offering jobs to backpackers are being told they must pay the minimum wage or risk prosecution. Last week, RNZ revealed a job website - Backpackerboard - was advertising roles below the $16.50 per hour minimum wage. More>>


Still Gaining: More Migrants Head Back Overseas

Annual net migration is down 4,800 from a high point a year ago, largely because more non-New Zealand citizens are leaving the country, Stats NZ said today. More>>

Christchurch: Red Zone Used To Boost Endangered Bee Population

“May 20 has been declared World Bee Day by the United Nations, and I am pleased to announce today that we have been able to use the red zone to protect and grow our native bee stocks,” says Minister Megan Woods. More>>

Trips, Support, Conferences For Agents: Insurers Spend $34 Million On Soft Commissions

“We are concerned that insurers are designing and offering incentives that potentially set advisers up to fail in complying with their obligations.” More>>


Privacy Commissioner: Facial Recognition Tech Not Reliable

The Privacy Commissioner says businesses should take great care when using facial recognition technology because there is a high risk of misidentification. More>>

Compliance Costs: Cheesemakers "Have A Reason To Smile"

Delighted to be a guest at The Great Eketahuna Cheese Festival today, Mr O’Connor launched the Food Safety Template for Cheesemakers – a tool to help cheesemakers producing cheese for New Zealand and Australia to meet food safety requirements. More>>