Trade Minister attends CPTPP Commission meeting
Trade and Export Growth Minister Damien O’Connor will travel to Singapore this week for the sixth meeting of the Commission of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP).
“Continuing to focus on the growth of our exports is a key element of the government’s economic plan. Our two-way trade with the CPTPP bloc represents 27% of our total trade, and developing this trade will better secure the economic future of all New Zealanders,” said Damien O’Connor.
“This is the world’s first open, multi-party free trade agreement, signed by 11 economies, which represent more than 13% of global GDP. About $20 billion a year of our exports go to CPTPP partners.
“Serious export growth has been a top priority this year. We have concluded our FTAs with the UK and EU, and have prioritized trade-related meetings with partners such as the US, Japan, ASEAN member states, Canada and Europe. Australia, and more recently the G20 Trade Ministerial Meeting in Indonesia.
“I look forward to working with my CPTPP counterparts to advance New Zealand’s trade agenda.
“The 2022 Commission meeting is the first in-person meeting since the COVID-19 crisis and an excellent opportunity for Ministers to discuss the implementation of the Agreement and the expansion of its membership, in the context of a difficult global economic environment.
“Discussions will focus on collaborating on digital trade, strengthening supply chains and promoting trade and investment in green goods, services and technologies through the CPTPP.
“New Zealand will succeed Singapore as CPTPP Chair in 2023. This will be an opportunity to further highlight our progressive approach to international trade as set out in our Trade for All agenda, as well as our commitment to openness, trade and regional exchanges. economic architecture,” said Damien O’Connor.
While in Singapore, Damien O’Connor will also meet with members of the New Zealand Chamber of Commerce and visit a vertical farming facility to learn more about how Singapore is tackling its food security challenges.
He leaves for Singapore on October 7 and will return to New Zealand on October 10.