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

 

TPP agreement safeguards New Zealand’s export sector

TPP agreement safeguards New Zealand’s export sector

Federated Farmers congratulates Prime Minister Jacinda Ardern and the coalition government for recognising the importance of free trade to New Zealand.

Following a frenetic few days of negotiations at the APEC summit in Vietnam, the New Zealand Trade delegation has succeeded in brokering agreement with 11 countries from the Asia-Pacific region- to move the deal forward.

Federated Farmers thanks all the Ministers and officials involved for their dedication and resolve.

"This is a great outcome for not just the primary sector but all New Zealanders. It ensures our country will be part of a critical trade deal now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), says Andrew Hoggard, Federated Farmers National Vice President.

"It’s vital that these international trade agreements exist, without it, there’s a real risk of more countries retreating to economic protectionism, which would hamper our access to key and emerging markets.

"This would have major concerns for our ability to trade and be competitive. It would also have repercussions for our future prosperity."

The Federation believes CPTPP will safeguard New Zealand’s economic interests and further strengthen our export sector.

"Trade deals like this ensure we are on an equal footing globally and particularly with the likes of Australia and the European Union, while presenting us with immense opportunities as an exporting country, opening up the markets of Japan, Mexico, Peru and Canada.

"For example, frozen beef into Japan currently faces a 50 percent tariff while Australia only faces a tariff of 22 percent.

"Being part of this trade agreement is essential if the new Government is to realise its aspirational goals for New Zealand. The Federation is delighted that the Prime Minister has been pragmatic and assertive to keep this agreement moving forward, and we await its completion in a timely manner," says Andrew.

Federated Farmers' position on Trade

Over 75% of merchandise exports come from the primary sectors - generating $38 billion in primary sector export earnings due to our ability to trade with other countries.

In some key global economies there is clamour for a retreat towards economic nationalism and protectionism. In light of these international threats, it is more important than ever that New Zealand remains committed to realising the benefits of free trade and promoting and pursuing trade liberalisation.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


REINZ: Market Activity And Prices Continue To Ease, First Home Buyers Start To Return To The Market

New Zealand’s winter property market continues its recent trend, slowing from the pace of sales and price rises of last year — properties stay on the market longer and median prices dip... More>>

FMA: Cigna Admits Making False And Misleading Representations
Cigna Life Insurance New Zealand Limited has admitted to making false and/or misleading representations to customers in proceedings brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko... More>>


Statistics: Retail Card Spending Down 0.2 Percent In July
Retail card spending fell $11 million (0.2 percent) between June 2022 and July 2022, when adjusted for seasonal effects, Stats NZ said today... More>>



ASB: Full Year Results: Building Resilience Today And For Our Future

In its 175th year, ASB has reported a cash net profit after tax of $1,418 million for the 12 months to 30 June 2022, an increase of $122 million or 9% on the prior year... More>>


Commerce Commission: Draft Determination On News Publishers’ Association’s Collective Bargaining Application
The Commerce Commission (Commission) has reached a preliminary view that it should allow the News Publishers’ Association of New Zealand (NPA) to collectively negotiate with Meta and Google... More>>


Heartland: Retirees Facing Pressure From Higher Cost Of Living And Increasing Debt In Retirement

Heartland has seen a significant increase in Reverse Mortgages being used to repay debt. Among the most affected by the increasing living costs are retirees, many of whom are trying to get by on NZ Super alone... More>>