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

Editorial: KiwiSaver to the rescue?

OPINION: Farmers are rightly urging the Government to relax the rules around KiwiSaver and allow young farmers to use their savings towards purchasing either a house, cows or a farm.

Editorial: Winston's words of wisdom

OPINION: Foreign policy is a real strength of Winston Peter and this is recognised by Ministry for Foreign Affairs and Trade (MFAT) officials who, so the story goes, wanted him in his present role because of his experience in that field.

NZ supports rules-based system

Deputy Prime Minister Winston Peters often describes NZ as a small and isolated nation situated 'just north of the penguins' but says in terms of global affairs, NZ and other small nations should be judged on the quality of their arguments and not the size of their military.

Featured

National

Machinery & Products

New Holland combines crack 50 years

New Holland is celebrating the 50th anniversary of the introduction its Twin Rotor threshing and separation technology, which has evolved…

Iconic TPW Woolpress turns 50!

The company behind the iconic TPW Woolpress, which fundamentally changed the way wool is baled in Australia and New Zealand,…

» Latest Print Issues Online

The Hound

Double standards

OPINION: Imagine if the Hound had called the Minister of Finance the 'c-word' and accused her of "girl math".

Debt monster

OPINION: It's good news that Finance Minister Nicola Willis has slashed $1.1 billion from new spending, citing "a seismic global…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter