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


Cancun Collapse A Lost Opportunity, Says Fonterra


Fonterra Chairman Henry van der Heyden expressed surprise and disappointment at the break-up without agreement of the WTO Ministerial talks in Cancun today.

"These talks were a major opportunity to push the Doha Development Round forward. It's very disappointing that they have fallen over - apparently because of issues other than agriculture."

"The failure will inevitably put back the timeframe for completing the Round, but we remain optimistic that we will eventually get there."

Mr van der Heyden noted that a considerable amount of work had gone into a draft text on agriculture over the past few days. While it still fell short of Fonterra's hopes for the outright elimination of export subsidies and substantial market access improvements in dairy, he described the final draft text as a substantial piece of work, and an advance on where we were going into Cancun.

He commented that trade rounds were traditionally a roller-coaster ride of sudden progress punctuated by stalling. Similar failures had preceded the completion of the Uruguay Round in 1993.

"This underlines just how hard it is to overcome the politics around trade and agricultural issues. It is frustrating that for once agriculture does not seem to have been the immediate cause of the failure.

But that also gives us some hope that negotiators will be able to put this behind them relatively quickly, and pick up from where we have left off at Cancun".

Mr van der Heyden paid tribute to the efforts of Minister Jim Sutton and NZ officials, who he said have worked hard and effectively to ensure that NZ interests, including dairy, were at the heart of the agricultural negotiations.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news