Todd McClay Warns of Tougher Global Trade Environment for NZ
The stark realities of the world trade that New Zealand is having to face have been revealed by Trade Minister Todd McClay.
Trade Minister, Tim Groser, met with EU Trade Commissioner, Cecilia Malmströmn, this week in Brussels to discuss the potential of a bilateral free trade agreement.
The meeting followed an announcement earlier by John Key, the European Commission president Jean-Claude Juncker and the European Council president Donald Tusk.
Key, Juncker and Tusk announced their shared commitment to engage in the process leading towards a high-quality free trade agreement.
Both sides agreed that the future deal should comprehensively address all of the issues concerning the current trade and investment relation.
The shared aim is to create rules that correspond to the reality of global supply chains and the increasing international interdependence in manufacturing and provision of services.
The future agreement would also promote transparency of rules, the fight against corruption and coherence between economic benefits, workers' rights and environmental protection.
Malmström, and Groser also used this opportunity to exchange views on the preparation for the upcoming 10th Ministerial Conference of the World Tarde Organisation (WTO) and the ongoing talks on a Trade in Services Agreement (TiSA) in which both the EU and New Zealand participate.
