Tuesday, 12 July 2016 09:55

G20 bodes well for NZ trade interests

Written by 
Trade Minister Todd McClay. Trade Minister Todd McClay.

Trade Minister Todd McClay says outcomes of the G20 Trade Ministers' meeting held in Shanghai July 9-10, are likely to be extremely important for New Zealand's trade interests.

"This was a positive meeting for our core interests in trade and investment," says McClay.

"There is a clear political will to build on the successes of the World Trade Organisation (WTO) Nairobi Ministerial last year, which agreed to eliminate agricultural export subsidies, and to make progress towards concluding an Environmental Goods Agreement."

In respect of the WTO, G20 ministers have committed to advance negotiations in a number of areas, including on the trade-distorting effects of agricultural domestic support.

McClay says this is vitally important to New Zealand's export interests and would be welcome news to our rural sector.

"While much remains to be done, this meeting has been a useful step in the process toward the next WTO ministerial in 2017," says McClay.

G20 ministers negotiating the WTO Environmental Goods Agreement also reaffirmed their intention to conclude an ambitious agreement and to do so quickly, seeking to finish later this year.

"New Zealand has been a strong advocate of the Environmental Goods Agreement and I have pushed for an outcome that has clear benefits for both trade and the environment whilst in Shanghai. A successful outcome in this area could be beneficial for New Zealand trade," says McClay.

While at the G20 meeting, McClay had bilateral discussions with counterparts from a number of countries including Argentina, United States, Korea, Saudi Arabia, Indonesia, Mexico, Laos, Russia, and China.

"The diversity of New Zealand trade means we are active in a wide range of markets. This meeting was an invaluable opportunity to progress our specific bilateral trade issues with these countries."

New Zealand was one of only two non-G20 members to be invited by China to attend the trade ministers' meeting.

More like this

Hawke's Bay to the world

Rockit chief executive Mark O'Donnell says consumer awareness for the brand continues to improve each year.

Editorial: Passage to India

OPINION: Even before the National-led coalition came into power, India was very much at the fore of its trade agenda.

Featured

Vaccinate against new lepto strain

A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.

TV series to combat food waste

Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.

National

Celebrating success

The Director General of MPI, Ray Smith says it's important for his department to celebrate the success of a whole…

Cyclone's devastating legacy

One of the country's top Māori sheep and beef farms is facing a five-year battle to get back to where it…

Machinery & Products

Factory clocks up 60 years

There can't be many heavy metal fans who haven’t heard of Basildon, situated about 40km east of London and originally…

PM opens new Power Farming facility

Morrinsville based Power Farming Group has launched a flagship New Zealand facility in partnership with global construction manufacturer JCB Construction.

» Latest Print Issues Online

The Hound

Cut with care

OPINION: The new government has clearly signalled big cuts across the public service.

Bubble burst!

OPINION: Your canine crusader is not surprised by the recent news that New Zealand plant-based ‘fake meat’ business is in…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter