8. H V ROSS ROBERTSON (Labour—Manukau East) Link to this
to the Minister of Trade
What feedback has he received from the outcome of New Zealand’s negotiations with Viet Nam over its accession to the World Trade Organization?
Hon PHIL GOFF (Minister of Trade) Link to this
I have received very positive feedback, in particular from our major exporters such as the dairy, meat, wool, and seafood industries. Fonterra’s estimate, for example, is that New Zealand’s dairy producers will be better off by around $12 million as a result of the negotiations. Although it is never possible to get all that one wants from negotiations, New Zealand clearly achieved significantly improved market access for both goods and services. I congratulate Jim Sutton and the Ministry of Foreign Affairs and Trade team on that result.
H V Ross Robertson Link to this
Can the Minister tell the House what the significance of achieving those outcomes is?
The outcome was significant because our trading relationship with Viet Nam is of growing importance. Our current goods exports, for example, are $140 million and rising, and Viet Nam is the second-fastest-growing economy in South-east Asia. That means that our service exports also have real potential there. These talks were, in fact, a one-off opportunity for New Zealand, and ended with a deal, after hard negotiations, that was regarded as fair and acceptable by both sides.
H V Ross Robertson Link to this
Can the Minister tell the House what areas, apart from dairying, will benefit from the outcome of the negotiations?