The PACER Plus Trade Agreement will be signed by 14 Pacific Island countries including Australia and New Zealand on June 14 in Nuku’alofa, Tonga.
Pacific Alliance countries are in talks to expand the trade bloc outside Latin America and into high-growth Asia as the future of established deals, such as NAFTA and the evolving Trans-Pacific Partnership (TPP), hang in the balance.
New Zealand has formally ratified the Trans-Pacific Partnership trade deal just days before Prime Minister Bill English heads to Japan for discussions over its future without the United States.
One of Prime Minister Narendra Modi’s most insightful, if low key, foreign policy initiatives was to work to deepen relations with more than a dozen island nations of Oceania.
But 14-nation deal may be largely symbolic without Fiji and Papua New Guinea.
An idea has emerged that the Trans-Pacific Partnership can take effect among at least five nations including Japan, Australia and New Zealand.
There were promises that the agreement would be for the benefit of the Pacific. But it has been shaped more by the advantages to Australia and New Zealand exporters than the aspirations of the Pacific’s people.
New Zealand hopes to bring forward the phasing out of restrictions on tariff-free dairy trade, industries from avocados and apricots to forestry and paper were wanting help to ease the path for exports into China.
Chief negotiators from the non-US TPPA countries will meet in Canada in early May to prepare a plan for the side meeting of TPP trade minister’s during the APEC meeting in Hanoi.
New Zealand Economic Development Minister Simon Bridges will make a further push to secure a long-stalled trade agreement with Arab states on a visit to the United Arab Emirates.
Russia is willing to restart free trade talks with New Zealand that were halted after the annexation of the Crimean peninsula, but Trade Minister Todd McClay says it is too soon to resume negotiations with the world’s 12th-biggest economy.
As the Government seeks to renegotiate the China Free Trade Agreement, we need to reflect on the broader priorities and risks in that relationship for the future.
New Zealand and China announced they would open talks soon to expand a successful free-trade deal in place for nearly a decade.
Pacific Island countries are expected to sign the proposed regional trade deal called PACER Plus next month.
The European Union is seeing increased impetus around the world to move forward with Free Trade Agreements (FTA) with the bloc, which will make the most of uncertainty over the outlook for U.S. trade policy.
As a next step, the European Commission will ask member states for a mandate to negotiate on behalf of the EU.
New Zealand is optimistic it will complete its stalled free trade deal with the Gulf states this year as part of efforts to deepen economic ties with the region
Australia and New Zealand have agreed to work together to try to breathe life into the stalled Trans-Pacific Partnership trade agreement.
New Zealand and China will soon hold a series of high-level meetings and work to promote free trade
New Zealand trade officials are hoping for a bilateral free trade deal with Washington, even while a Trans-Pacific Partnership deal excluding the US remains on the table.