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

Hope For Nature: A New Deal For The Commons

Joseph Cederwall on The Dig: The disruption and destruction of the interconnected biodiversity of Earth is the most serious challenge humanity has ever faced. This is an ecosystem emergency on an extinction scale. It is also a serious threat to the inherent rights of the diversity of non-human life, ecosystems and human Cultures on Earth to exist and thrive. The current global paradigm is devastating life everywhere by disrupting vital “ecosystem services” like the food, water, and climate regulation systems that both humanity and biodiversity depend on in an interconnected balance. It is increasingly clear that the primary driver of this crisis is the limiting and infectious worldview around land and resource use so central to the global capitalist system. To fully understand the biodiversity crisis and explore what comes next, it is necessary to address this mind-virus at the heart of our modern civilisation – the dominion worldview. More>>

 

Gordon Campbell: On The Farming Sector’s Persecution Complex

The narrative that our farmers are ‘doing it tough’ plays into a number of wellworn stereotypes ... More>>

ALSO:

corrections, prisonCorrections: Independent Review Of Prisoner Mail Management

The independent review into the prisoner mail system has today been released, with Corrections accepting all 13 recommendations and making a number of changes to strengthen the management of prisoner mail. More>>

ALSO:

IPCA: Unlawful Detention Of Teenager; Influence Of Investigation

The Independent Police Conduct Authority has found that former Inspector Hurimoana Dennis unlawfully detained an Auckland teenager in 2015, and improperly influenced the outcome of a criminal investigation into his own son in 2014. More>>

ALSO:

SOP For Gun Bill: New Measures For Modified Pistols

The new controls will • Prohibit short-barrelled semi-automatic rifles which currently are defined as pistols because they are shorter than 762 millimetres. • Introduce tighter controls over pistol carbine conversion kits… • Prohibit firearms which contain a part known as a centrefire lower receiver… More>>

'Culturally Arranged Visitors Visa': Fix For Marriage Visa Issue

Earlier this year Immigration New Zealand issued guidance to front line Immigration staff that made it significantly harder for people to get visas to visit their partner. That guidance no longer applies with today’s announcement. More>>

ALSO:

Conflict Of Interest For Key Member: Budget Data Breach Investigation Shut Down

State Services Commissioner Peter Hughes has today terminated the investigation into how Budget-sensitive material was accessed at the Treasury and appointed a new inquirer. More>>

RNZ Report: Mysterious Foundation Loaning NZ First Money

A mysterious foundation that loans money to New Zealand First is under scrutiny, with a university law professor saying although it's lawful, it fails to provide the transparency voters need in a democracy. More>>

Justice: Criminal Cases Review Commission Established

“We’ve seen how our justice system can very occasionally get things spectacularly wrong, even with rights of appeals, and there needs to be a chance for the innocent on the right grounds to seek a final review of their case...” More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels