Hon Phil Goff
Minister for Trade Negotiations

27 February 2007

New Zealand to participate in Asia wide FTA study.

New Zealand will join a study into a comprehensive economic partnership in East Asia (CEPEA), which could lead to free trade among the members of the East Asia Summit (EAS) , Trade Minister Phil Goff announced today.

"Last month, EAS Leaders meeting in Cebu, endorsed the launch of a 'Track Two' study into the CEPEA, and I welcome the fact that the study is moving forward quickly" said Mr Goff.

"I am pleased that Dr Brent Layton, the Chief Executive of the New Zealand Institute of Economic Research, has agreed to participate in a group of regional experts that will undertake the study.

"New Zealand was one of the first countries to signal its strong support for the Japanese-led CEPEA initiative.

"Free trade amongst the EAS membership, which includes China, Japan and India, would bring significant trade and economic benefits to New Zealand. This study will provide leaders and Ministers with important information on the CEPEA, that will allow us to take informed decisions on how to best progress it.

"Initiatives designed to enhance regional economic integration such as CEPEA, and the APEC-led Free Trade Area of the Asia Pacific (FTAAP), are important elements of New Zealand's engagement with the Asia Pacific region.

"While it is clear that such initiatives are complex, and are likely to take years to implement, it is important that New Zealand is engaged in their development from the outset.

"Dr Layton's involvement in the CEPEA Track Two Study is an important contribution, and will ensure that New Zealand expertise, views and interests are taken into account as the CEPEA initiative moves forward", Mr Goff said.

ENDS

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