Minister welcomes progress on TPP negotiationsTrade
Trade Minister Tim Groser today welcomed the significant progress made during the Trans Pacific Partnership (TPP) Ministerial meetings in Singapore over the last four days.
Speaking at the press conference where Ministers responsible for TPP negotiations spoke about the progress achieved, Mr Groser said, “I am pleased to report that we have substantially advanced the negotiation here in Singapore. My colleagues and I were able to make good progress across the negotiating agenda, keeping true to the objectives Leaders have set for the negotiation. In many areas we have identified potential landing zones that will guide the final phase of work.”
While more work remains to be done, Mr Groser said that momentum is accelerating in the negotiation and he was confident that conclusion of a comprehensive, high quality, 21st century agreement was in sight.
“However, we will not short change ourselves. We will take as long as needed to achieve a deal that eliminates trade barriers for New Zealand exporters and can advance our vision of regional economic integration in the Asia Pacific. The gains a high quality TPP would generate for the New Zealand economy demand we get this right.”
TPP Ministers and negotiators have agreed to next meet in January.
TPP is a negotiation for a regional free trade agreement among 12 countries: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, the United States, Singapore, and Viet Nam. Together these countries represent a combined GDP of US$27 trillion, include five of New Zealand’s top ten trading partners, and account 45 percent of New Zealand exports.