INDEPENDENT NEWS

Case for Regional Trade Deals like TPP Remains Strong

Published: Wed 25 Jan 2017 09:14 AM
Media release by the Dairy Companies Association of New Zealand (DCANZ)
CASE FOR REGIONAL TRADE DEALS LIKE TPP REMAINS STRONG
The Dairy Companies Association of New Zealand (DCANZ) says the case for regional (and other) trade deals remains very strong, regardless of the recent decision by the US to withdraw from the TPP agreement. DCANZ emphasises the importance of New Zealand continuing to prioritise regional and global agreements within an ambitious agenda for trade liberalisation.
“The link between trade and the prosperity of nations is well established and strong” says DCANZ Chairman Malcolm Bailey. “By expanding market opportunities, trade creates jobs, promotes resource use efficiency, and better positions economies to invest in infrastructure, education and social services. Agricultural trade supports food security and geopolitical stability”.
The TPP agreement includes some useful, but limited, steps in dairy market liberalisation, and some significant steps in liberalising trade for a range of other goods and services. The deal was concluded on the basis that it would have lifted economic development for each participant and for the region as a whole.
“The US withdrawing from TPP is a lost opportunity to alleviate some of the distortions in dairy markets” says Bailey. “However, this scenario has been signalled for some time and comes ahead of implementation, meaning it is unlikely to result in any disruption to current trade”.
DCANZ hopes that the proven benefits of trade will bring the US back to the regional trade table in the future. Meanwhile, DCANZ supports the New Zealand Government in continuing to progress an ambitious trade agenda via the WTO, with the remaining TPP signatories, and through the proposed EU, UK, India, RCEP, GCC, Sri Lanka and China (FTA upgrade) agreements.
“We are pleased to hear that Prime Minister Bill English, and Trade Minister Todd McClay, have had useful meetings with counterparts from a range of other markets in recent weeks” says Bailey. “We also welcome their stated commitment to building a positive relationship with the new US administration”.
ENDS

Next in Business, Science, and Tech

Services lead GDP growth
By: Statistics New Zealand
Letter to Immigration Minister From Early Harvesting Growers
By: One Plus One
Scientists discover one of world’s oldest bird species
By: Canterbury Museum
Helping regions fill skills shortages and Kiwis come first
By: New Zealand Government
Report: Govt Inquiry into Auckland Fuel Supply Disruption
By: Inquiry into The Auckland Fuel Supply Disruption
NZ economy grows 0.5% in June quarter, beating expectations
By: BusinessDesk
Don’t blame President Trump for slowing economy
By: New Zealand National Party
Labour's big government economic policies continue to fail
By: ACT New Zealand
Kiwi economic growth slows. We need fiscal caffeination
By: Kiwibank
Weakening economic growth shows need for tax cuts
By: New Zealand Taxpayers' Union
Employers pen open letter to Minister in ‘desperation’
By: New Zealand National Party
Dismissive Minister out of touch with reality
By: ACT New Zealand
Labour issues in booming sector
By: Bayleys
Migrant Workers Association criticises work visa overhaul
By: RNZ
More detail needed on migrant worker policy
By: BusinessDesk
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media