Arrangement to forge new economic pathways for Indigenous Peoples
Foreign Affairs Minister Nanaia Mahuta and Trade and Export Growth Minister Damien O’Connor have announced a new initiative to strengthen economic empowerment for Indigenous Peoples.
“Aotearoa New Zealand remains committed to inclusive trade and economic growth for all, including Indigenous Peoples. The Indigenous Peoples Economic and Trade Cooperation Arrangement (IPETCA) is a first of its kind plurilateral arrangement that will enable economies and Indigenous Peoples to work effectively together,” Nanaia Mahuta said.
“This Arrangement is an important step towards harnessing the unique potential of Indigenous Peoples and creating connections amongst these communities.
“Economies who join the initiative will commit to supporting critical areas of importance to Indigenous Peoples, including growing economic prosperity and preserving Indigenous values and cultural knowledge,” Nanaia Mahuta said.
The IPETCA is open for any APEC Member economy, WTO Member or any other economy to join. It will be overseen and implemented by the Partnership Council, a joint decision-making body of both economy representatives and Indigenous Peoples.
“Indigenous Peoples have a long and rich history of trading and commerce, which this Arrangement will build upon. Unlocking the economic potential of Indigenous economies to enable more effective trade and addressing some of the key challenges that Indigenous Peoples face, will be a focus of the IPETCA,” Damien O’Connor said.
“The Arrangement will ensure greater cooperation across a range of sectors and areas, including responsible business conduct, traditional knowledge, opportunities for micro, small and medium sized enterprises, digital trade and e-commerce, and others,” Rino Tirikatene, Parliamentary Under Secretary for Trade and Export (Māori Trade) said.
“We invite economies to join us on this journey towards achieving greater economic empowerment for Indigenous Peoples through the IPETCA,” Nanaia Mahuta said.
More information can be found on the Ministry of Foreign Affairs and Trade website.