- Hon Todd McClay
Today New Zealand, Singapore, the United Arab Emirates and Switzerland, have announced the establishment of a new partnership to generate trade and investment opportunities and support economic growth, Trade and Investment Minister Todd McClay announced.
The Future of Investment and Trade (FIT) Partnership brings together Brunei, Costa Rica, Iceland, Liechtenstein, Morocco, New Zealand, Norway, Panama, Paraguay, Rwanda, Singapore, Switzerland, the United Arab Emirates and Uruguay.
Discussions on the establishment of the FIT Partnership began 12 months ago between the four countries, who reached agreement during a quadrilateral meeting of Trade Ministers in Switzerland in May this year.
"We are a group of small and medium-sized, trade-dependent nations determined to take a proactive approach to opening markets, attracting investment, and removing barriers," Mr McClay says.
"The focus will be on practical initiatives that make a real difference for businesses - strengthening supply chains, reducing non-tariff barriers, improving investment flows, and harnessing new trade technologies."
Mr McClay says New Zealand's involvement as a founding member will give exporters and investors more opportunities and stronger connections.
"With one in four New Zealand jobs dependent on trade, it's vital we are out hustling and shaping new opportunities. This partnership will help ensure our companies are well placed to compete and succeed, and will contribute to the Government's goal of doubling the value of exports in 10 years."
More information on the Partnership is available here: https://www.mfat//fitp
