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Trade talks breakdown ominous
Friday, June 22nd, 2007
Trade talks breakdown ominous
The break-down of the trade talks in Potsdam could spell the end of hope for better access for New Zealand's manufactured exports as well as agricultural products, the Employers & Manufacturers Association (Northern) said today.
"The Potsdam breakdown signals a bleak future for the current WTO Doha trade round, said Bruce Goldsworthy, EMA's Manager of Manufacturing Services.
"Its another blow to investor confidence.
"More emphasis will now swing onto achieving improved trade access through bilateral and other free trade agreements.
"But these were never going to deliver as much as solid agreement at the WTO talks, and will hinder growth in some of our major markets thereby reducing opportunity for New Zealand business."
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