Conclusion of ASEAN FTA negotiations welcomed

Business NZ is welcoming greater trade access to the Asia-Pacific region following conclusion of the ASEAN – Australia -- New Zealand free trade agreement negotiations.

An official conclusion for the FTA between Australia, New Zealand and the 10 ASEAN countries was officially reached during the annual ASEAN-CER ministerial meeting in Singapore yesterday. The final agreement is expected to be signed in December.

Business NZ chief executive Phil O’Reilly says all the indications point to a comprehensive and high quality deal.

“It’s a great outcome for New Zealand’s trade future given the ASEAN economies are some of the fastest growing and most significant in the world,” he says.

“Add this to the China FTA concluded in April and we now have a superb network of agreements in Asia with the possibility of more to come, particularly with the possibility of Japan and Korea following at some stage.

“Not only is the deal welcome from a trade perspective, but it also secures New Zealand’s plans as a key partner with ASEAN in the future.”

Mr O’Reilly commends New Zealand’s negotiators in Singapore for securing this significant opportunity on behalf of New Zealand.

“Negotiating with ten countries that are all at very different stages of development is incredibly challenging. We should congratulate our team for getting a good deal and commend the ASEANs for taking those extra steps.”

He says Export NZ, now a division of Business NZ, is looking forward to working with the Minister of Trade and his team to exploit the opportunities this presents as soon as possible.