Monday, May 27, 2024

Trade Minister to attend Commonwealth talks in London

Trade and Export Growth Minister, Damien O’Connor, will head to London tomorrow to represent New Zealand at the Commonwealth Trade Ministers’ Meeting, before travelling to Paris to vice-chair the OECD Ministerial Council Meeting.

“My travel to the United Kingdom is well-timed, with the United Kingdom Free Trade Agreement (UK FTA) entering into force this week,” the Minister said.

“New Zealand exporters have seen $37 million in tariffs immediately eliminated and the deal will boost our GDP by up to $1 billion dollars.”

He said the Commonwealth Trade Ministers’ Meeting provided an opportunity to connect with Commonwealth partners and discuss important issues for the region – such as outcomes on climate change and the commitment to a multilateral rules-based trading system.

“The Chris Hipkins Government understands that our exporters need diverse options and opportunities when it comes to trade. Since 2017, we have secured or upgraded seven FTAs and 73.5% of our export goods are now covered by an FTA – bringing savings for Kiwi businesses,” Mr O’Connor said.

The Minister will then travel to France to vice-chair the OECD Ministerial Council Meeting in Paris.

“Trade is key to our economic growth; one in four jobs depend on trade and we know that employment grows up to 12 per cent faster when businesses start exporting. Our job is to open as many doors as possible for Kiwi firms and to continue to advocate for their interests on the world stage,” Mr O’Connor said

“The OECD Ministerial Council Meeting brings together representatives from 38 Member States under the theme Securing a Resilient Future. As vice-chair, I will have the chance to highlight the ways in which New Zealand is already focussed on a resilient future with our Trade for All agenda and our commitment to open and inclusive trade.”

Mr O’Connor will also meet with trade counterparts from the Agreement on Climate Change, Trade, and Sustainability (ACCTS), the Digital Economic Partnership Agreement (DEPA), and the European Union.

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