Friday, July 19, 2024

Trade Minister bound for Tokyo

Trade Minister, Damien O’Connor will travel to Tokyo tomorrow to meet with Japanese counterparts and engage with New Zealand businesses in market as part of New Zealand’s 2023 export growth agenda.

“Continuing to build on our strong trade momentum is a priority for the Government in order to provide greater economic security to all New Zealanders,” Mr O’Connor said.

“Japan is New Zealand’s fourth-largest trading partner and we continue to build on last year’s very successful trade mission to Japan, with two way trade between our countries worth over $9.6 billion and growing,” he said.

While in Tokyo, Mr O’Connor will meet with Japanese Trade Minister Nishimura Yasutoshi to discuss the ongoing trade relationship and Japanese Minister for Economic Revitalization (with responsibility for the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP)), Goto Shigeyuki.

New Zealand is the 2023 Chair of the CPTPP and as Japan is the chair of the United Kingdom’s Accession Working Group, discussion around the progressive trade deal is expected to be on the agenda.

“New Zealand’s two-way trade with CPTPP economies is close to $50 billion and the agreement has already saved Kiwi businesses over $300 million in tariffs in the two years since it entered into force,” Minister O’Connor said.

“Our chairing of CPTPP this year is an opportunity to work with the membership to further regional economic integration, which will provide New Zealand future economic security.

“Japan is the chair of the UK’s Accession Working Group and as such plays a vital role in ensuring that the UK’s accession to CPTPP sets a good precedent for future aspirants.

“Negotiators will head to Viet Nam next week for a formal negotiating round on the UK’s accession. New Zealand is committed to completing the accession process as swiftly as possible if the remaining issues can be resolved to the satisfaction of all parties and the UK,” he said.

The two-day programme sees him also meeting with New Zealand business leaders in Japan to talk about opportunities in the Japanese market and the Government’s response to Cyclone Gabrielle.

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