Phil Twyford to progress ASEAN trade upgrade talks
Minister of State for Trade and Export Growth Phil Twyford will travel tomorrow to Cambodia for trade negotiations with the Association of South East Asian Nations (ASEAN).
“Making sure we have high-quality trade deals in place which ensure New Zealand businesses continue to grow in key markets is central to the Government’s economic recovery plan, and will deliver greater economic security for all New Zealanders,” Phil Twyford said.
“In Phnom Penh, I will meet with my ministerial counterparts for negotiations on the upgrade to the ASEAN-Australia-New Zealand FTA (AANZFTA), to continue negotiations to secure a high-quality outcome that will further support New Zealand businesses trading and investing in the ASEAN region.
“South East Asia is the third largest market in the world, and the ASEAN bloc is New Zealand’s third largest two-way trading partner. In 2021 we sent almost 10 percent of our total exports to ASEAN countries. The AANZFTA has supported this growth and in the 12 years since the Agreement’s entry into force, our goods exports alone to ASEAN have grown by 44 percent to $7.37 billion in the year to June 2022.
“The AANZFTA upgrade process provides an opportunity to ensure that this high-quality free trade agreement remains modern and fit for purpose whilst boosting the region’s economic integration.
“I am looking forward to constructive discussions with my ministerial counterparts from across the ASEAN member-states, where I will be keeping the importance of supporting our exporters and ensuring the benefits of trade deliver for all at the centre of my conversations,” Phil Twyford said.
Phil Twyford will depart New Zealand on 9 November and return to New Zealand on 12 November.