BusinessNZ has welcomed progress towards the new Trans Pacific Partnership, now CPTPP.
BusinessNZ Chief Executive Kirk Hope says a successful conclusion to negotiations would mean new income and jobs in New Zealand.
“The value and volume of our exports increase enormously in countries where we reach a free trade agreement, and every extra billion dollars in exports equates to 8,500 new jobs.
“But New Zealand has not yet achieved many trade agreements – only 8, with 16 countries, far fewer than many other comparable countries have.
“The CPTPP would greatly increase this number, cutting tariffs in many more places and increasing diversity in markets, helping insulate us against any economic headwinds we may face in the future.
“New Zealand exporters are typically smaller than their global competitors and have further to go to get their goods to market. They currently find it hard to compete in markets where we don’t have trade agreements.
“A successful conclusion to the CPTPP would be a huge boost for New Zealand’s exports.”