8. JOHN HAYES (National—Wairarapa) Link to this
to the Minister of Trade
What recent developments have there been in furthering New Zealand’s international trade agenda?
Hon TIM GROSER (Minister of Trade) Link to this
The trade Ministers of Australia, New Zealand, South-east Asia, and the giant economies of east Asia—Japan, Korea, and China—agreed some 10 days ago in Bangkok to recommend to their leaders a study, from an essentially academic level up to a formal inter-Government level, of a free-trade agreement amongst those countries. If that recommendation is endorsed by East Asia Summit leaders in October, it will be a considerable strategic advancement for Australia and New Zealand.
If endorsed by leaders, these recommendations, or the formal study of the concept of a free-trade agreement, will ensure that Australia and New Zealand are now definitively part of the Asian economic regional integration process. Asia accounts for over half of New Zealand’s exports, at some $21 billion, and offers some very exciting long-term opportunities.