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.
Speaking at the NZ Dairy Industry Awards in Queenstown, he highlighted the simmering trade dispute between NZ and Canada over the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
New Zealand initiated the dispute because Canada was not complying with CPTPP rules, blocking dairy exporters' access to its market.
A CPTPP arbitration panel ruled decisively in New Zealand's favour. Canada had until 1 May to change how it administered its tariff quotas - to stop giving its own domestic industry priority access, and to allow exporters to benefit fully from the market access negotiated in good faith between Canada and New Zealand.
McClay says NZ takes its trade obligations seriously and expects other countries to do the same.
"Canada is a great friend of NZ, we work together well around the world, but they must deliver on their obligations," he says. "And on your behalf the government reserves the right to use any instrumental at our disposal."
