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


Trade Network Welcomes APEC Developments

Hooray for FTAs! Trade Network Welcomes APEC Developments

New Zealand is a net beneficiary of lower barriers to trade, said Suse Reynolds, Executive Director of the Trade Liberalisation Network.

She was responding to developments at the APEC meeting in Santiago, Chile in recent days. Three of these were particularly relevant to New Zealand business.

"The APEC Business Advisory Council's proposal for a Free Trade Area of the Asia Pacific is terrific. It sends an important message both regionally and internationally to governments that business leaders representing 21 countries and 70% of world trade are right behind their governments' efforts to make international trade easier," said Reynolds.

"The added impetus given to the P3 agreement to create a trade agreement between New Zealand, Chile and Singapore is also welcome. Not only does it provide the starting point for an APEC wide agreement but raises awareness of the tremendous trading opportunities for New Zealanders on both sides of the Pacific."

While these two developments were important, Reynolds said the announcement that China and New Zealand would commence negotiations as soon as possible on a trade agreement was likely to have the most immediate impact.

"This announcement is great news for all New Zealanders. At its heart it is about more opportunities and more jobs for us all," said Reynolds.

She acknowledged that concluding an agreement with China was likely to require adjustment in some industries, particularly for those in the

clothing, footwear and textile industries.

"These industries are, however, as aware as any New Zealand businesses is, that they must be internationally competitive.

"The Government's tariff policy, World Trade Organisation developments, and even exchange rate movements which in the last two years have made Chinese imports 40% cheaper, have all been sending strong signals about the need to prepare for increasingly open markets. Furthermore the environment for job creation could not be better in New Zealand, with unemployment at record low levels," Reynolds pointed out.

"Claims that concluding an agreement with China will perpetuate the plight of child labourers, political prisoners and sweatshop workers are misleading. On the contrary agreements like these bring greater wealth and greater exposure to the international community, both of which bring pressure to bear on the elimination of these appalling practices."

© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


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>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news