President Bachelet reportedly asked her Korean counterpart to come to the negotiating table next March in Singapore, where countries including New Zealand, Singapore, Chile, Brunei, the United States, India, Peru and Australia are expected to start negotiations on a multilateral FTA. According to Korean Presidential spokesman Lee Dong-kwan, President Lee gave a positive response to the proposal.
Singapore, Brunei, Chile, New Zealand and the US have warmly welcomed the announcement by Australia and Peru that they intend to join negotiations on the Trans-Pacific Strategic Economic Partnership (TPP).
The free trade agreement begun by New Zealand, Singapore, Chile and Brunei - known as the P4 - two years ago is set to expand even further with two more countries , Australia and Peru, as well as the United States wanting to join.
The New Zealand defence industry is renewing calls for a free trade agreement with the United States, which would allow New Zealand companies to compete for a slice of US military contracts.
As New Zealanders have learned from the China FTA, we would be foolish to listen uncritically to the promises already being made for a trade deal with the US. The US drives a hard bargain.
Canberra sees the transpacific partnership as a potential stepping stone to a broader regional agreement, and as a means of ensuring Australia is not damaged by the growing number of free trade agreements throughout the Asia Pacific.
Concerns are being raised by the Green Party as to how a free trade agreement with the United States might affect domestic drug-funding agency Pharmac.
The US has reinvigorated its trade policy with the announcement it will enter into comprehensive Free Trade Agreement (FTA) negotiations to become a full partner to the Trans-Pacific Partnership (P4).
The United States’ dairy industry is more open to a free trade deal with New Zealand than in the past, US trade representative Susan Schwab says.
The proposed expansion of the Trans-Pacific Strategic Economic Partnership (NZ, Chile, Brunei, and Singapore, commonly known as the P4 Agreement) to include investment and financial services, and to add the US to its membership, was bad enough. But for this to suddenly morph into a fullblown Free Trade Agreement with the US is catastrophic for any remaining economic sovereignty that New Zealand has.
Australia, Peru and Vietnam have expressed interest in joining a budding Asia-Pacific tariff-busting plan which received a boost on Monday with the participation of the United States, officials said.
The US National Milk Producers Federation said today it would seek the full exclusion of New Zealand’s dairy products under the newly-announced Transpacific free trade agreement. This stance is because of the New Zealand dairy industry’s unique structure and excessive manipulation of dairy markets globally and in the US.
The New Zealand National Party’s trade spokesman Tim Groser believes the dairy sector is likely to emerge as the big winner from the United States’ decision to negotiate a free trade pact with New Zealand and three other countries because the deal could break down strict tariff barriers for dairy products entering the US. He also predicts Australia will want to get involved in the deal.
The New Zealand Alliance Party says a proposed new free trade deal with the USA is a race to the bottom that will be great for big business and terrible for workers. The party’s trade spokesperson Victor Billot says any free trade deal is coming at a strange time as the global financial system teeters on the edge of collapse and Fonterra’s venture into China has ended in disaster.
The United States has agreed to join Singapore, New Zealand, Chile and Brunei in a free trade agreement which could set the pace for a broader Asia-Pacific free trade area, officials said.
The NZ Ministry of Foreign Affairs and Trade recently announced the opening of negotiations with Singapore, Chile and Brunei to extend a two year old trade and investment agreement (the grandly named Trans-Pacific Strategic Economic Partnership - often known as the P4) into investment and financial services.
The United States decision to get involved in forging a trade accord involving New Zealand is a major milestone in the quest for a US-NZ free trade agreement, says the American Chamber of Commerce in New Zealand (AmCham). AmCham has been lobbying hard for a US-NZ FTA for nearly 10 years now.
The NZ Green Party is calling on Labour to halt discussions on an investment treaty because of the threat the treaty poses to our sovereignty and our environmental standards. This follows the announcement today that the United States is seriously considering joining negotiations about an investment treaty between the P4 treaty partners of New Zealand, Chile, Singapore and Brunei.
Trade Minister Phil Goff has welcomed the United States decision to join negotiations with New Zealand and three other countries on a joint financial services and investment agreement.
It would appear that Washington is most interested in forging a deal with the Pacific Four nations (New Zealand, Singapore, Chile and Brunei) who have forged a Trans-Pacific Strategic Economic Partnership (known as P4).