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

 


Japan-Australia deal makes TPP even more important

Media Release

8 April 2014

Japan-Australia deal makes TPP even more important

The recently-concluded economic partnership agreement between Australia and Japan makes a high quality TPP outcome even more important, according to the New Zealand red meat sector.

The bilateral agreement will lower Japan’s tariffs on Australian beef products, over time, to about half of the 38.5% that is applied to exports from other countries, including New Zealand. This will give Australian beef producers a significant advantage in the Japanese market.

“Without a comprehensive, high quality TPP, we’re now going to have a competitive disadvantage in our fifth-largest beef market, and our largest market for chilled beef. We’ve always placed a lot of importance on a successful and high quality TPP deal that removes all tariffs on our exports,” said Meat Industry Association Chairman Bill Falconer.

“We’re confident that New Zealand’s negotiators are doing their best to get us there, regardless of this kind of distraction.”

Beef + Lamb New Zealand Chairman James Parsons said the Australia-Japan deal was much less ambitious than a typical New Zealand FTA and was “in a completely different league” to the ongoing TPP negotiations.

“A high quality deal means complete tariff elimination on all products of trade interest – that’s basically what New Zealand has achieved in its FTAs. It’s disappointing to see Australia and Japan not get up to that standard, particularly while we’re all in the middle of trying to finish a very high quality TPP agreement.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news