Thursday, June 13, 2024

Trade Minister to attend CPTPP talks in Singapore

Minister for Trade and Export Growth, Damien O’Connor will travel to Singapore this week for the Sixth Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) Commission Meeting.

“Continuing to build on our export growth is a key part of the Government’s economic plan. Our two way trade with the CPTPP bloc accounts for 27% of our total trade, and growing this further will better secure the economic future of all New Zealanders,” Mr O’Connor said.

“It is the world’s premier open, multi-party free trade agreement, signed by 11 economies, which represent over 13% of the world’s GDP. Around $20 billion a year of our exports go to CPTPP partners.”

Delivering serious export growth has been a top priority this year, the Minister said.

“We have concluded our FTAs with the UK and the EU, and have prioritised trade related meetings with partners such as the USA, Japan, ASEAN member states, Canada and Australia, and most recently the G20 Trade Ministerial meeting in Indonesia,” he said.

“I’m very much looking forward to working with my CPTPP counterparts to further advance New Zealand’s trade agenda.”

The 2022 Commission Meeting is the first held in-person since COVID-19 hit.

“The discussions will focus on collaboration on digital trade, strengthening supply chains, and promoting trade and investment in green goods, services and technologies through CPTPP,” the Minister said.

New Zealand will take over as Chair of CPTPP from Singapore in 2023. Mr O’Connor said this will provide an opportunity to further highlight New Zealand’s progressive approach to international trade as set out in our Trade for All agenda.

While in Singapore, the Minister will also meet with members of the New Zealand Chamber of Commerce, and visit a vertical farming facility to learn more about how Singapore is tackling its food security challenges.

He departs for Singapore on Friday and will return to New Zealand on 10 October.

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