Trade decision great for New Zealand Inc.

The US decision to join negotiations for part of a trade deal involving New Zealand is very good for this country, says Business NZ.

The P4 trade deal between New Zealand, Chile, Singapore and Brunei is in the process of being completed, with financial services and investment agreements being negotiated now. The US decision to join in this part of the agreement could turn the P4 into a wider Asia-Pacific deal.

Business NZ Chief Executive Phil O’Reilly says he’s particularly pleased that the US is not only getting engaged in this part of the negotiation but is investigating whether to take part in a more comprehensive way.

“The fact that this process has started is a result of concerted work by New Zealand Inc.

“The Government has been very positive and proactive engaging with the private sector and enabling the New Zealand case to be heard in Washington.

“The Government, Trade Minister, MFAT and the business people and organisations involved are to be congratulated in creating the framework and environment for this to occur.”

Business will continue to advance the case for a comprehensive free trade deal with the US, Mr O’Reilly said.