- Hon Todd McClay
Prime Minister Christopher Luxon and Minister for Trade and Investment Todd McClay joined their Singaporean and Chilean counterparts today to launch negotiations for the Green Economy Partnership Agreement (GEPA) in the Republic of Korea.
"New Zealand, Singapore, and Chile have a proud history of shared leadership in developing innovative trade agreements to drive integration and economic growth in our region," Mr McClay says.
"This agreement is an opportunity to work together to position our businesses to seize trade and investment opportunities in the growing global green economy, the value of which is estimated to more than quintuple to US$11 trillion by 2040."
The agreement will boost trade and investment and will involve the partners working together on issues like environmental credit markets, sustainable finance and investment, green goods and services, sustainable agriculture and food systems and low and zero emissions fuel alternatives.
"New Zealand is committed to meeting its climate targets, and this innovative agreement will help drive our transition to a greener, more resilient economy," Mr McClay says.
Negotiations are set to begin immediately and will continue into 2026. The launch closely follows the signature of the Comprehensive Strategic Partnership with Singapore on 10 October and the agreement will be a flagship initiative under the Climate Change and Green Economy, and Trade and Economics pillars.
It also comes after successful Asia-Pacific Economic Cooperation (APEC) meetings and bilaterals this week.
"In an increasingly fragmented and unpredictable international trading landscape, APEC remains a leading platform for international dialogue on trade and economic issues.
"Trade with APEC economies constitutes around 75 per cent of New Zealand's exports, and accounts for about 60 per cent of global GDP.
"Meeting with important trading partners presented a valuable opportunity to strengthen ties with key economic partners and advance the interests of New Zealand exporters."
