Stephen Jacobi, NZIBF Executive Director, speaks to the Confederation of Indian Industry Partnership Summit in New Delhi about The Future of Multilateralism.
Issued by NZ International Business Forum (NZIBF)
15 November 2016 – Business leaders have welcomed the passage of the Trans Pacific Partnership (TPP) Implementation Act in the New Zealand Parliament.
“This legislation says clearly to the world that New Zealand is open for business and ready and capable of completing high quality, comprehensive and ambitious trade agreements” said NZ International Business Forum (NZIBF) Chair Malcolm Bailey.
“At a time when the future of global trade is uncertain at best, New Zealand cannot turn aside from the important effort to seek better rules for trade and investment. New Zealand has been built on trade and open global markets benefit business, workers, their families and communities”.
NZIBF brings together leaders from some of the largest New Zealand exporters and international businesses including from the dairy, meat, wood, horticulture and seafood sectors as well as the peak business associations.
Mr Bailey congratulated Trade Minister Todd McClay and Select Committee Chair Mark Mitchell MP for their work in steering the TPP implementing legislation through the House.
“We have seen a great exercise in democracy as TPP has been subject to rigorous examination by stakeholders presenting to the Select Committee and by MPs in Parliament. That is how we make good treaties in New Zealand and TPP has been no exception.”
Mr Bailey expressed disappointment that parties traditionally strongly supportive of New Zealand’s trade interests did not support TPP.
“We have said this before: if TPP were to proceed without New Zealand the economic consequences would be dire. Without TPP there is now a risk that our competitors especially in Japan and the United States will enjoy better market access”.
“That is now something we urgently need to address and we urge all political parties to work together to restore the traditional bipartisan approach to trade policy in New Zealand”, concluded Mr Bailey
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