Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

New Zealand ratifies CPTPP

Hon David Parker
Minister for Trade and Export Growth

25 October 2018 PĀNUI PĀPĀHO
MEDIA STATEMENT


New Zealand ratifies CPTPP during trade minister’s trip to Ottawa and Washington

It’s a big week for New Zealand in trade and investment.

The ban on foreign buyers of existing homes took effect on Monday.

This cleared the way for us to pass the Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP) legislation.

This in turn allowed us to ratify the agreement.

New Zealand has today ratified the CPTPP taking to four the number of countries that have formally ratified the Asia-Pacific trade deal.

Minister for Trade and Export Growth David Parker today handed a copy of the notification of ratification to New Zealand’s High Commissioner to Canada Daniel Mellsop. New Zealand is the official depository for the 11 nation agreement.

David Parker is in Ottawa during a six day trade trip to the United States and Canada for talks focussed on the future of the World Trade Organisation (WTO).

“The importance of CPTPP has grown over recent months with the rapid escalation of protectionist measures around the world.”

In recent days he held talks with the top US trade official, Trade Representative Ambassador Robert Lighthizer, his deputy Ambassador Jeffrey Gerrish and other trade experts in Washington DC.

At the White House he met the Director of the National Economic Council Larry Kudlow and had a private meeting with President Donald Trump’s deputy Chief of Staff, New Zealander Chris Liddell.

David Parker said the CPTPP will come into effect 60 days after six countries ratify the deal.

New Zealand joins Japan, Mexico and Singapore that have already ratified. Australia and Canada are expected to join very soon. That means the tariff reductions and increased exports will begin very early in 2019.


“New Zealand’s ratification means that from day one our businesses will be able to take advantage of improved trading conditions and lower tariffs. We have not previously had a trade agreement with Canada, Mexico nor with the world’s third largest economy Japan.

“Economic modelling shows exports, the New Zealand standard of living, and wages, will increase as a consequence, David Parker said.

The CPTPP markets are collectively home to 480 million consumers and make up 13.5 per cent of world GDP.”

“Important changes were made in CPTPP, compared with the original TPP, to deliver on this Government’s bottom lines including, protecting drug agency Pharmac, the Treaty of Waitangi, and the Government’s right to regulate in the public interest,” David Parker said.


• New Zealand's implementing legislation was passed into law by Parliament on Wednesday with the support of all parties except the Greens. The foreign buyer ban was supported by all parties except National and Act.
• The 11 countries involved in the CPTPP are New Zealand, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, and Viet Nam.
• More information on the CPTPP, including the full legal text and a National Interest Analysis, is available at www.mfat.govt.nz/cptpp

ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Child Poverty Monitor: Food Poverty Due To Inadequate Income, Housing Cost

The latest Child Poverty Monitor released today by the Office of the Children’s Commissioner reveals alarming facts about children suffering the impacts of family income inadequacy, says Child Poverty Action Group (CPAG).

The report found that one in five children under the age of 15 - amounting to between 161,000 and 188,000 children - experience moderate-to-severe food insecurity, meaning they can’t count on having regular nutritious meals. More>>

 

Open Government: Proactively Release Of Ministerial Diaries

All Government Ministers will for the first time release details of their internal and external meetings, Minister for State Services (Open Government) Chris Hipkins announced today. More>>

ALSO:

Billion Trees: Questions Over Shanes Jones Carbon Claims

“Officials estimate the actual value of the One Billion Trees (OBT) scheme will be just a third of the amount Mr Jones claimed, at about $900 million, and that he padded the number by including $800 million of ETS benefits and $1 billion of business-as-usual activity..." More>>

'Sovereignty Concerns': Plans To Sign UN Migration Pact

New Zealand is likely going to sign up to a United Nations migration pact this week as long as it can iron out a concern around sovereignty. More>>

ALSO:

Most Vulnerable Face Most Risk: Sea Level Rise Threatens Major Infrastructure

The burden of sea-level rise will weigh on the most vulnerable unless a new approach is developed and legislated, a new report says. More>>

ALSO:

Gordon Campbell: On The Pope Of Parliament

’Tis the season of goodwill towards all humankind… except it would seem, towards the Speaker of Parliament... More>>

ALSO:

Abortion: Hundreds March To Call For Decriminalisation

About 300 protesters marched to Parliament this afternoon calling on MPs to vote in favour of decriminalising abortion. A recent report by the Law Commission to the government recommended removing it from the Crimes Act. More>>

ALSO:

Secondary Negotiations: PPTA Rejects 'Another Inadequate Offer'

Hard on the heels of an overwhelming rejection of the government’s second offer, the union’s representatives did not believe that the latest offer was good enough to take out to members... More>>

ALSO:

eGates And Social Security: PM Meets With Korean President Moon Jae-In

Our shared values and challenges, the situation on the Korean Peninsula and the opportunity to do more together were features of the meeting between Prime Minister Jacinda Ardern and the President of the Republic of Korea Moon Jae-in today in Auckland. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels