Trade talks next month

Donald Trump. Photo: ODT files
Donald Trump. Photo: ODT files
The China free trade agreements (FTA) upgrade talks will begin on April 25, giving exporters hope of increased trade following the withdrawal of the United States from the TPP.

US President Donald Trump cancelled US participation in the Trans Pacific Partnership agreement on taking office.

Yesterday, Prime Minister Bill English met Chinese Premier Li Keqiang in Wellington.

The FTA with China had been an enormous success, Mr English said following the meeting.

Since it came into force in 2008, two-way trade between the countries had tripled to $23billion, creating jobs and opportunities for people in both counties.

``An upgrade will ensure this momentum continues and ensure the FTA remains a modern agreement that tackles barriers our exporters face.''

The upgrade would assist progress towards the target of $30billion of two-way trade by 2020, he said.

The agreement to start negotiations also confirmed the commitment of both countries to open trade and economic growth.

Trade openness and strong ties in the region were critical to New Zealand's economic growth, prosperity and job creation, Mr English said.

The meeting with Premier Li provided an opportunity to reflect on the successes achieved since New Zealand established diplomatic relations with China 45 years ago, and set the agenda for the future.

``Premier Li and I also reiterated the value we see in people-to-people links between our two countries, including the nearly 35,000 Chinese students studying in New Zealand and the 400,000 Chinese who visit annually.''

Both countries also confirmed their commitment to open trade, sustainable development and stability in the Asia-Pacific region, Mr English said.

Not everyone was happy with the deals announced yesterday by Mr English, including New Zealand First leader Winston Peters who is demanding transparency over the ``secret deals''.

China's Belt and Road plan, driving its global inter-connectivity, might suit China's economic and international plans but there were questions whether it would suit New Zealand, he said.

``It's not coincidental Northland Regional Council has held secret meetings and signed a memorandum of understanding with China Rail, to include other Chinese companies, over road and rail links, including Northland.

``New Zealand is not a Third World country and has largely built New Zealand's infrastructure ourselves. Offers of soft loans for development is simply not in our interests.''

New Zealand had resources China needed and there was no need for New Zealand to negotiate from weakness or to act in the subservient way it had, Mr Peters said.

The Northland MP accused the Government of making countless promises on infrastructure years downstream without defining where the resources were coming from.

``It's high time for the Government to show some guts instead of waving a white flag,'' Mr Peters said.

 

Add a Comment