Minister for Trade and Export Growth David Parker heads to Tokyo later this week for the first Commission meeting of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) trade agreement, which came into force on 30 December 2018.
“This is a significant milestone. The CPTPP – a major trade agreement among 11 Asia/Pacific economies – is already delivering improved access for our exporters, including into Japan, Canada and Mexico where we have not previously had an FTA,” David Parker said.
“CPTPP is also important in the current uncertain global trading environment. It provides a level of insurance for New Zealand against strains in the multilateral rules-based trading system.
“New Zealand has valued Japan’s leadership in helping to bring this agreement into force. Our joint efforts to implement the agreement serve as an example of how New Zealand and Japan can work together as strategic partners in our region.”
“The meeting in Tokyo is an early opportunity to bring into effect the CPTPP’s institutional arrangements and ensure the smooth operation of the agreement.”
So far the agreement has been ratified by seven countries – New Zealand, Australia, Canada, Chile, Japan, Mexico, Singapore, and Viet Nam.
“The remaining four signatories are working to complete their domestic procedures and I expect more will soon notify New Zealand as Depositary that they are ready to join the agreement.
“Alongside the CPTPP meeting, I will hold talks in Tokyo with my Ministerial counterparts to discuss working together to progress inclusive trade outcomes and address wider global trade issues.”
David Parker will also meet New Zealand business representatives and the Japan-New Zealand Parliamentary Friendship League.