Monday, May 27, 2024

NZ to host CPTPP meeting

New Zealand will host Trade Ministers and delegations from 10 Asia Pacific economies at a meeting of Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Commission members in July, Minister for Trade and Export Growth Damien O’Connor announced today.

“New Zealand is the chair of CPTPP this year and the Ministerial Meeting, held in Auckland, will be the centrepiece of our host year,” Mr O’Connor said.

“Trade is a major priority for this Government as we know that trade grows businesses, creates jobs, and boosts our economy. One in four New Zealanders’ jobs depend on exports.”

Since 2017, the Government has secured four new Free Trade Agreements and upgraded three more, he said.

“In addition, the proportion of our exports now covered by FTAs has increased to 73.5%, up from only 52.5%.”

“CPTPP economies represent $17.3 trillion of global trade and our membership has saved kiwi business $300 million in tariffs in just the first two years. In the primary sector there have been massive gains – significant exports such as kiwifruit and wine saw all tariffs eliminated immediately.

“Alongside the benefits and savings secured in the Regional Comprehensive Economic Partnership, the United Kingdom FTA, and the EU FTA, this Government has delivered for our exporters – and for the people and households that they support.

“Chairing the CPTPP Commission allows us to build on the success we’ve had opening trade opportunities by working with the membership to further regional economic integration and promote inclusive and sustainable trade that delivers economic opportunity, prosperity and benefits for all New Zealanders,” Mr O’Connor said.

The seventh CPTPP Commission in Auckland will be biggest international meeting Aotearoa has hosted since the COVID-19 pandemic.

“We look forward to warmly welcoming Trade Ministers to Aotearoa New Zealand and showcasing our country internationally,” the Minister said.

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