News | Politics
22 Aug 2017 13:44
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Olympic Games
  • Ski Report
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Politics

    Trade ministers mull future of TPP

    Attempts are under way at a trade ministers' meeting in Vietnam to create a process to take the TPP agreement forward without the US.


    A meeting of trade ministers in Vietnam is a chance for the 11 remaining countries in the Trans-Pacific Partnership (TPP) to decide what happens next, says New Zealand's Trade Minister.

    Todd McClay is in Vietnam for the annual Asia-Pacific Economic Cooperation meeting of trade ministers, where he will also co-chair a meeting on the next steps for the TPP.

    Twelve countries that border the Pacific Ocean signed up to the TPP in 2016, representing roughly 40 per cent of the world's economic output.

    The pact aimed to cut tariffs and foster trade but all 12 nations needed to ratify it before it could come into effect.

    US President Donald Trump has withdrawn the US from the TPP, keeping a campaign promise.

    Mr McClay says the meeting in Vietnam follows a successful visit to Japan with Prime Minister Bill English where Japan and New Zealand firmly committed to work together to progress TPP11.

    "This TPP meeting will be important for the future of the agreement. This is a chance for the 11 remaining countries to collectively decide upon a process for next steps," he says.

    "New Zealand recently joined Japan in ratifying TPP because the agreement still has real value to the Asia-Pacific both strategically and economically," he says.

    The Asia-Pacific is the world's fastest growing region and it consumes more than 70 per cent of New Zealand's exports.

    "That's a big part of why fighting for a common set of high-quality rules that will secure lower tariffs and better access for our exporters is so important."

    Mr McClay will also meet bilaterally with a number of key regional trading partners, participate in the APEC Ministers Responsible for Trade meeting and attend a separate meeting with Ministers from Regional Comprehensive Economic Partnership (RCEP) countries.


    NZN




    © 2017 NZN, NZCity


     Other Politics News
     22 Aug: Donald Trump looked directly at the eclipse, ignoring his own government's safety advice
     22 Aug: Now's the time for CGT: Greens
     22 Aug: AA wants 10,000 park and rides urgently
     21 Aug: Another campaign shock as Dunne quits
     21 Aug: Dunne quits, election now 'drag race': PM
     21 Aug: Labour promises Auckland to Tauranga rail
     21 Aug: Govt puts up $3m for teachers in Auckland
     Top Stories

    RUGBY RUGBY
    Black Ferns boost bench for US semi-final More...


    BUSINESS BUSINESS
    Comvita gains as earnings beat guidance More...



     Today's News

    Law and Order:
    Great Barrier policing cleared 13:27

    Entertainment:
    Robin Thicke and Paula Patton have reached a custody agreement 13:16

    Politics:
    Donald Trump looked directly at the eclipse, ignoring his own government's safety advice 13:07

    Law and Order:
    Inquest begins into Kiwi rocker's death 13:07

    Business:
    Comvita gains as earnings beat guidance 12:57

    Entertainment:
    Lady Antebellum’s Hillary Scott is pregnant with twins 12:46

    Business:
    Ingham's posts 2.5pc gain in FY earnings 12:27

    Entertainment:
    Kendra Wilkinson Baskett won't "sugarcoat" her parenting 12:16

    Environment:
    Rare birds released at Mackenzie Basin 11:57

    Entertainment:
    Kate Beckinsale is “scared” to let her daughter leave home 11:46


     News Search






    Power Search


    © 2017 New Zealand City Ltd