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

 


Government Reneges on APEC Trade Deal


Government Reneges on APEC Trade Deal

Import News from the Importers Institute of New Zealand 30 September 2003 - Government Reneges on APEC Trade Deal

The government of New Zealand has reneged on an APEC commitment to eliminate tariffs by 2010.

In the 1994 Bogor "Declaration of Common Resolve," all APEC governments agreed to achieve the goal of free and open trade and investment in the region no later than 2010 for the industrialised economies.

But today the government decided not to eliminate tariffs on clothing and shoes. Trade Minister Jim Sutton said there is "international uncertainty surrounding tariff liberalisation" in APEC. He also said that "the government is not prepared to move to a zero tariff regime at this time" and "will still retain some trade negotiating coin."

Daniel Silva, Secretary of the Importers Institute, condemned the decision. He said, "this talk of 'negotiating coins' amounts to much the same as saying that we will hold our breath until the faces of our larger trading partners turn blue."

Mr Silva added, "This government's trade policy (if it ever had one) is in tatters. It earlier failed to secure a trade agreement with Hong Kong to protect a handful of local clothing and shoe makers. Now, the decision to renege on an APEC commitment sends a clear message that New Zealand is closed for business."

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

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>>

ALSO:

Half A Billion Accounts: 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>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news