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TLN Hails Trade Bridge Across The Pacific

3 June 2005

TLN Hails Trade Bridge Across The Pacific

“On behalf of our key export interests, the New Zealand Trade Liberalisation Network warmly greets today’s confirmation of a New Zealand – Singapore -Brunei- Chile free trade agreement” said TLN Chair and Positively Wellington Business CEO Philip Lewin this afternoon.

Mr Lewin was commenting in response to the announcement by Ministers from the four countries, meeting in the margins of an APEC session in Korea, that negotiations have succeeded on this four-way partnership.

“Although full details of each country’s new commitments are yet to appear, on the basis of today’s information we are confident that this latest trade deal for New Zealand meets the liberalizing litmus test - that is, “open regionalism” and more trade between the four countries. Trade creation – not simply trade diversion – is the name of the game”

“This agreement, to be known as the Trans- Pacific Strategic Economic Partnership (TPSEP), should enhance progress towards our nation’s global objectives at the World Trade Organisation, not detract from them” said Mr Lewin

“In terms of the Asia –Pacific region, it’s also a boost for APEC and that organization’s wider objective of free trade and investment among Asia-Pacific economies. Earlier this month in Beijing, APEC’s Business Advisory Council strongly reaffirmed this goal”

“Both in terms of helping the bigger picture and for its own sake, the TPSEP is a win for New Zealand. TLN therefore congratulates our Government negotiators on this very positive outcome” Mr Lewin concluded.

The New Zealand Trade Liberalisation Network Inc (“TLN”) is a business organisation aimed at encouraging broad public understanding and support for trade. The TLN was established in October 2001. Funded and led by New Zealand’s leading export interests, TLN is an incorporated society which works with other like-minded individuals and organisations sharing similar goals.

ENDS

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