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Trade Minister Todd McClay today welcomed the World Trade Organization's (WTO) decision upholding New Zealand's challenge to 18 agricultural non-tariff barriers imposed by Indonesia.

New Zealand and the United States jointly brought the case against Indonesia in 2013 over a range of barriers imposed on agricultural imports since 2011. These included import prohibitions, use and sale restrictions, restrictive licence terms and a domestic purchase requirement.

Trade Minister Todd McClay says Japan’s passing of TPP legislation demonstrates their support for international trade liberalisation.

“It’s good to see the world’s 3rd largest economy join New Zealand and show leadership on trade,” says Mr McClay.

With the Upper House endorsement on Friday (9 December), Japan has now completed its parliamentary process for the approval of the TPP Agreement. This follows New Zealand’s passage of the primary legislation necessary to ratify the agreement on 15 November.

Trade Minister Todd McClay will meet Brunei’s Second Minister of Foreign Affairs and Trade tomorrow.

The Minister, Pehin Lim Jock Seng is visiting New Zealand along with Brunei’s Industry Minister, Pehin Yasmin Umar.

“Brunei is a good friend of New Zealand, working cooperatively with us within ASEAN and beyond,” says Mr McClay.

“Brunei and New Zealand cooperate in trade, defence, and education – and Brunei is also a strong supporter of trade liberalisation.

Trade Minister Todd McClay says New Zealand education institutions stand to benefit following the signing of an education cooperation agreement in Iran today.

Mr McClay is leading New Zealand's first Trade Mission to Iran in more than a decade, and believes the visit has strengthened the New Zealand-Iran relationship following bilateral talks in Tehran.

Trade Minister Todd McClay leads a senior-level business delegation on New Zealand’s first trade mission to Tehran in twelve years, today. 

Iran and New Zealand have a long-standing trade relationship, dating back to 1975 when New Zealand established an Embassy in Tehran, its first in the Middle East.

“There is enormous opportunity for Iran and New Zealand to work together to boost two-way trade,” says Mr McClay.

Trade Minister Todd McClay today published a summary of what New Zealand businesses think about Brexit and the impact they believe it could have on trade with the United Kingdom – New Zealand’s fifth largest trading partner.

This follows a public consultation held earlier in the year to better understand the position of New Zealand exporters and investors into the UK market.

Trade Minister Todd McClay has welcomed the release of two studies which shed new light on the cost and impact of unnecessary red tape and arbitrary trade rules on New Zealand’s exports.

“Technically referred to as non-tariff barriers, these unfair obstacles are costing New Zealand businesses US$5.9 billion every year,” says Mr McClay.

Italian Deputy Minister for Economic Development, Ivan Scalfarotto and New Zealand Minister of Trade, Todd McClay, have jointly hosted a business event in Milan today committing to doubling two-way trade between the two countries.  

Mr McClay is on a trade promotion visit to Europe and today joined his Italian counterpart at a Business Roundtable with 30 New Zealand and Italian businesses.

Trade Minister Todd McClay and opposition MPs will travel to Europe and Iran over the next week to take part in a number of trade-related events.  
 
Mr McClay says New Zealand needs to engage more broadly in trade-related activities in Europe and this mission would offer a valuable opportunity to promote New Zealand goods and services in these lucrative markets.  

"Italy, France and the United Kingdom are collectively worth more than $9.2 billion of two-way trade and are home to 190 million consumers.  That is significant.

Trade Minister Todd McClay has welcomed strong export growth to Korea during the first year of the New Zealand-Korea Free Trade Agreement (FTA).

“There is no doubt this agreement has created jobs and prosperity in our regions,” says Mr McClay.

At an event to mark the upcoming one-year anniversary of the FTA, Mr McClay told members of the Korean and New Zealand business community that New Zealand exporters are enjoying the benefits of preferential tariff access to the Republic of Korea.

Trade Minister Todd McClay and Malaysian Minister of International Trade and Industry YB Dato’ Sri Mustapa Mohamed met at APEC in Lima today to conclude the first General Review of the Malaysia-New Zealand Free Trade Agreement (MNZFTA).

The FTA entered into force on 1 August 2010.

“The strong trade and investment flows between the two economies are underpinned by a close and cooperative working relationship,” says Mr McClay.

Trade Minister Todd McClay travels to Peru today to attend the annual Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting in Lima where he expects to hold talks on RCEP, FTAAP and TPP.

Mr McClay will join trade and foreign ministers from 20 other APEC economies which account for half of global trade and 60 per cent of world GDP.

Trade Minister Todd McClay has welcomed the third reading of the Trans-Pacific Partnership Agreement Amendment Bill in Parliament today.

The passage of this Bill is a significant step towards New Zealand ratifying the Trans-Pacific Partnership (TPP).

Minister of Trade Todd McClay has welcomed the second reading of the Trans-Pacific Partnership Agreement (TPP) Amendment Bill in Parliament today.

“TPP is our biggest trade deal to date, and presents a huge opportunity for our economy, adding an estimated $2.7 billion a year to New Zealand’s GDP once it has been fully phased in,” says Mr McClay.

The NZ Super Fund and the Accident Compensation Corporation’s purchase of minority stakes in Kiwibank has been welcomed by Finance Minister Bill English and State Owned Enterprises Minister Todd McClay.

“The deal keeps Kiwibank in public ownership and gives the bank access to additional sources of capital,” Mr English says.

“It also returns a dividend of about $200 million to the Government which can be used for other high priorities.”

The sale of Solid Energy’s mines provides the best outcome for employees, creditors and communities, Finance Minister Bill English and State Owned Enterprises Minister Todd McClay say.

Solid Energy announced today that it had reached agreement on the sale of the Stockton, Strongman and Liverpool mines on the West Coast, the  Rotowaro and Maramarua mines in the Waikato and the New Vale and Ohai coal mines in Southland.

Trade Minister Todd McClay says New Zealand and Australia have outlined a series of initiatives and agreed a process to reinvigorate the New Zealand-Australia single economic market agenda.

"The Closer Economic Relations agreement (CER) with Australia was New Zealand's first free trade agreement over thirty years ago, and today we are two of the most integrated economies in the world.

"The single economic market agenda is about reducing barriers and encouraging trans-Tasman economic growth," says Mr McClay.

Trade Minister Todd McClay will visit China and Hong Kong for a series of trade discussions, and participate in the Regional Comprehensive Economic Partnership (RCEP) Ministerial meeting in Cebu, Philippines.

Trade Minister Todd McClay and EU Trade Commissioner Cecilia Malmström have agreed on the importance of working in the World Trade Organisation (WTO) towards reducing non-tariff barriers (NTBs), addressing harmful fisheries subsidies that contribute to over fishing, and reform of domestic support in agriculture.

"Commissioner Malmström and I are committed to progressing these important issues in Geneva as part of preparations for the next WTO Ministerial Conference in 2017," say Mr McClay.

Trade Minister of Todd McClay has established a trade policy dialogue with his United Kingdom counterpart, Secretary for International Trade Liam Fox in London today.

"For New Zealand, this is about being ready to cement our formal trading relationship with our fifth largest trading partner, once the UK is in a position to negotiate independently of the European Union.

"I discussed with Secretary Fox the importance of remaining closely engaged, particularly as New Zealand advances our priority of a free trade agreement with the European Union.

Trade Minister Todd McClay has announced a review of New Zealand’s Free Trade Agreement (FTA) with South East Asia, which has helped increase trade with the region by 25 per cent since 2010, saying he was concerned that New Zealand businesses are “leaving money on the table”.

 The ASEAN-Australia-New Zealand FTA (AANZFTA) covers New Zealand, Australia, Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam. 

Trade Minister Todd McClay travels to Europe tomorrow for discussions on trade with the European Union (EU) and the United Kingdom (UK).

Mr McClay will visit London to meet UK Secretary of State for Trade Liam Fox, to discuss post-Brexit trade relations, and will further progress an EU-New Zealand Free Trade Agreement (FTA) with EU Trade Commissioner Malmström in Norway.

Trade Minister Todd McClay today continued engagement with iwi leaders at a Rotorua hui on the refresh of the government's Trade Policy Strategy.

Finance Minister Bill English and State Owned Enterprises Minister Todd McClay announced today that Trevor Janes will be the next chair of KiwiRail, and former State Owned Enterprises Minister Tony Ryall will be the next chair of Transpower.

Mr Janes has been appointed a director of KiwiRail from today and will take over as chair from 1 November. He succeeds John Spencer who has chaired KiwiRail for four years and before that its predecessor, the New Zealand Railway Corporation, for two.