New Zealand hosts first round of Gulf States Free Trade talks

  • Phil Goff
Trade

New Zealand begins the first round of negotiations for a free trade agreement with the six nation Gulf Cooperation Council in Wellington today.

Trade Minister, Phil Goff says that the Gulf states – Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates and Oman – represent a major trading partner for New Zealand and that trade will be enhanced by a Free Trade Agreement.

"New Zealand exports to the GCC states were last year worth nearly $800 million", Mr Goff said.

"Collectively it represents our seventh largest trading partner and one of our fastest growing markets.

"Our export growth to the Gulf region has averaged 10 percent a year over the last six years, outperforming our export growth globally.

"The Gulf states are a major market for us in food and beverage. But market opportunities are becoming more diverse and growing. ICT and advanced industrial goods and services including education and tourism have all become an important part of our trading relationship", Mr Goff said.

"An FTA will enable us better to achieve the potential of this relationship.

"The negotiating process itself is a significant aspect of building a partnership.

"This is the first time that we have had a delegation representing the six states in New Zealand and focussed on what our country has to offer.

"An FTA gives us the chance to secure a stable strategic relationship with the rapidly growing region. It recognises New Zealand as a preferred supplier. We hope the outcome will be to protect and expand our market share, eliminate barriers to trade and improve market access in areas such as services and investment.

"New Zealand businesses and non-government agencies working in the region have made a valuable input into preparation for negotiations", Mr Goff said.

The First Round of Negotiations from 25-27 July will commence with discussions between New Zealand negotiators and business interests, followed by an official welcome at the Duxton Hotel in Wellington attended by Mr Goff and the GCC delegation. The FTA discussions at officials level begin on 26 July.