Export New Zealand welcomes fantastic US FTA news

Media statement

September 23rd, 2008

Export New Zealand welcomes fantastic US FTA news

Achieving a comprehensive free trade agreement with our second largest export market, the United States, would deliver a fantastic boost to exporters' confidence," says Export New Zealand chief Bruce Goldsworthy.

"The P4 agreement represents an ideal mechanism to achieve a comprehensive FTA outcome for both the US and New Zealand," Mr Goldsworthy said.

"After Australia, the US is also New Zealand 's second largest trading partner worth over $8 billion a year both ways.

"The FTA will deliver good value far beyond our farm, fish and forestry industries - indeed New Zealand's manufactured exports to the US, not including processed dairy, meat, fish, wood pulp or wool, were worth $2.1 billion for the year ended February 2008.

"The figure includes exports to the US of $260million of processed food, $180m of beverages including wine, $376m of sawn timber and wood products, $120m of iron and steel, $160m of non-ferrous metals, $236m of electronic equipment, $127m of household appliances, and $152m of industrial plant and machinery.

"Our exporters recognize the value of the P4 agreement with Singapore, Chile, and Brunei as a trade trail blazer in bilateral agreements spanning the Asia-Pacific region and the Americas.

"With the US on board we are optimistic the P4 agreement will quickly become P5, P6 and more as other countries seek to join, and this process would bring with it further export opportunities.

"The P4 model is likely to become attractive as a model for other FTA negotiations that other countries will emulate."

ENDS

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