Wanted! New FTA partners

by | Jun 29, 2021 | Media Releases, Trade Works

Remove

Media release, 29 June 2021

New research commissioned by the NZ International Business Forum (NZIBF) identifies options for New Zealand’s next tranche of trade negotiations.

“Trade is the country’s lifeblood and trade has boosted the economy during the pandemic,” says NZIBF Executive Director, Stephen Jacobi.   

“New Zealand has done incredibly well over the last thirty years or so to open new markets around the world.  There’s more work to do to finish existing negotiations, upgrade existing agreements and to make progress with key partners where FTAs have proved elusive like the United States and India.  But the great wave of trade liberalisation that was ushered in after the conclusion of the Uruguay Round is coming to an end.  That’s why we need to look to the future”.

NZIBF has commissioned Sense Partners to provide a forward-looking, data-driven assessment of potential priority partners for the future.  The report – “Wanted: New FTA Partners” –  is being released at simultaneous events in Auckland and Wellington on 29 June.

“The report notes that despite our success New Zealand still has no existing or planned preferential market access with almost 40 percent of the world’s economy and consumers.  While the United States comprises a significant proportion of this, there is plenty of scope to start now to look at expanding trade relations with a range of other partners”.

The report uses a “FTA Partner Suitability Index” to identify some 22 economies which New Zealand should be thinking about seriously with an eye to future trade growth.   

“Exporters will all have their own lists but what is important is that we start the process of thinking about future partners and how best to engage with them, whether on the basis of high quality and comprehensive FTAs or other means. We should be thinking too both about our traditional areas of export strength and also how to include new sectors like services, digital and the creative economy as well as the needs of Māori business”.

“The report is a means to develop a conversation with exporters, stakeholders and the Government about where our priorities might lie in the future, recognising that we have a busy agenda today to get on with and finish” concluded Mr Jacobi.

Read and download the full report here.

REGISTER WITH TRADE WORKS

Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.

Latest News

AMIDST THE STORM: ABAC MEETS IN AUCKLAND

Perhaps a cyclone was after all a fitting backdrop for the meeting of the APEC Business Advisory Council (ABAC) which was held in Auckland on 12-14 February – the global environment against which the meeting took place is decidedly stormy.  In the event the wind...

A YEAR FOR RECONNECTING

As I write this end of year dispatch, NZIBF is preparing to host the first meeting for 2023 of the APEC Business Advisory Council (ABAC).  We are looking forward to welcoming the 200 or so business leaders and senior officials from APEC member economies across the...

NZ Herald: Time to lift our game in India

Following his recent visit to India our Executive Director Stephen Jacobi penned this article advocating a more strategic approach to the further development of the relationship. The article was published by the NZ Herald on 9 December.

APEC Rolls out Priorities for 2023

Issued by the Informal Senior Officials’ Meeting - Honolulu, The United States, 13 December 2022 Aiming to provide tailwinds for member economies to strengthen recovery and resilience, as well as advance broad-based economic growth, the United States rolled out its...

NZIBF 2022 Chair Report

ANNUAL GENERAL MEETING 2022 CHAIR’S REPORT I am pleased to present my second report on the activities and achievements of the NZ International Business Forum (NZIBF) for 2022-23, our fifteenth year of operations.  At the outset I would like to thank Members for...

NZ BUSINESS LEADERS AT APEC 2022

New Zealand business will be represented at the APEC Leaders’ Week in Bangkok, commencing 13 November, by members of the APEC Business Advisory Council (ABAC). New Zealand’s three members – Rachel Taulelei, Malcolm Johns and Anna Curzon – supported by Stephen Jacobi...

Submission to MFAT for CPTPP Review

30 September 2022 Phil Mellor Economic Division, Ministry of Foreign Affairs and Trade, Wellington (By email) Dear Phil, Thank you for your email of 1 September, seeking our comments on the three year review of the Comprehensive and Progressive Agreement for Trans...