Media release

20 June 2012

Power of multilaterals

Mexico’s bid to enter TPP negotiations demonstrates the power of multilateral trade deals, says ExportNZ.

The Trans Pacific Partnership started life as a relatively small agreement between four disparate countries – Brunei, Chile, Singapore and New Zealand - but is now the subject of negotiations with several major Pacific economies.

ExportNZ Executive Director Catherine Beard says the decision by those initial four countries to work towards an independent trade deal, because of the lack of progress of the Doha world trade negotiations, was a good call.

“The TPP has now attracted Mexico, the world’s 14th largest economy, into the negotiations.

“Significantly, this move has occurred with the full support of the US, another member of the TPP negotiations, and a country whose full membership of TPP would have major benefits for New Zealand.

“Full credit to New Zealand’s trade negotiators for this milestone in their work on behalf of our exporters and economy,” Ms Beard said.

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