- Hon Todd McClay
Trade and Investment Minister Todd McClay has welcomed progress towards Costa Rica joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in Melbourne today.
Ministers will meet again before the end of the year with a view to announce the substantial conclusion for Costa Rica's accession working group. Costa Rica is set to become the second economy to accede to the Agreement following the United Kingdom, which joined CPTPP in December 2024.
CPTPP Members have also decided to initially commence accession processes with Uruguay this year as well as Indonesia, the Philippines and the United Arab Emirates in 2026.
They also agreed to continue discussions with other aspirant economies towards meeting the Auckland Principles that guide the accession process.
"CPTPP remains a gold standard trade agreement, at a time of great turbulence in the global trading system. That is why there is such strong interest from countries seeking to join the agreement" says Minister McClay.
The inaugural Trade and Investment Dialogues between the CPTPP and the European Union (EU) and the Association of Southeast Asian Nations (ASEAN) were also held.
"International trade rules, which small economies like New Zealand rely upon, are under threat. These dialogues demonstrate there is still support for a system governed by rules. Upholding and expanding trade rules is critical for New Zealand exporters," Mr McClay says.
CPTPP Members will work on concrete next steps with the EU and ASEAN to strengthen cooperation across a range of areas, including digital trade, supply chain resilience, trade integration, and in support of the WTO reform process.
