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Penk Travels To Peru For Trade Meetings

Minister for Land Information, Chris Penk will travel to Peru this week to represent New Zealand at a meeting of trade ministers from the Asia-Pacific region. He is travelling on behalf of Trade Minister Todd McClay.

The annual Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade meeting will be held on 17-18 May in Arequipa.

In Peru, Mr Penk will hold meetings with Ministers from Australia, Indonesia, Peru, Malaysia and the UK. He will also engage with New Zealand businesses focused on the Peruvian and Latin American markets.

“APEC’s 21 economies receive over 75 per cent of our exports and represent nearly 60 per cent of global GDP. This meeting is an exciting opportunity to intensify our connections with these major economic partners and support New Zealand exporters.

“The Government has committed to the ambitious target of doubling exports by value in 10 years. Growing our relationships with partners across the Asia-Pacific region is integral to achieving this.

“There is no substitute for fronting up and participating in the conversation. Attending APEC is part of the Government’s efforts to raise the energy in international engagements.”

During his visit, he will also attend a ministerial meeting on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which will focus on the General Review of the Agreement and the CPTPP accession process. He will also be exploring non-tariff measures and non-tariff barriers to trade.

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“CPTPP is a critical piece of trade architecture for New Zealand which covers $17.3 trillion of global trade.

“A laser focus on promoting international trade opportunities is part of our broader plan to rebuild the economy and create a more prosperous quality of life for all New Zealanders,” Mr Penk says.

Notes

  • Peru is the fourth largest export destination for New Zealand goods and services in Latin America.
  • In 2023, New Zealand exported over $122 million of total goods and services to Peru.

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