Tim Groser Address to third Japan-New Zealand Partnership Forum: Japan and New Zealand - Overcoming Adversity, Building the Future

Minister of Trade, Tim Groser addressed political and business leaders from Japan and New Zealand at the third Japan-New Zealand Partnership Forum in Tokyo, on the 11th of July, 2011. During his keynote speech, Minister Groser commented on the importance of regional integration and the economic, strategic and geo-political importance of trade rules and domestic legislation around doing global business.

Minister Groser acknowledged Japan’s central role in the global supply chain trading system and attributed Japan with championing the ‘just-in-time’ low inventory approach, which has come under immense strain since the devastating events of March 11.

He commented that production facilities may need to be spread geographically to reduce the risks associated with just-in-time manufacturing. He also noted that countries in the Asia/Pacific region are standing ready to make the most of the new opportunities this change may signify, which will lead to further diversification of supply chains within the region.

“The challenges of reconstruction within a changing regional and global market present a momentous challenge for Japan. Decisions around how to engage with the Trans Pacific Partnership Agreement (TPP) process are part of this challenge” Minister Groser also said that New Zealand was encouraged by suggestions last year that Japan may engage in the TPP and noted “It was the most important statement by Japan on trade in 25 years.”

Japan is a very important partner in trade and investment terms “New Zealand can help in Japan’s food and mineral security needs through the reliable delivery of contractual supply commitments. Given the tightening of global supply, it is important to maintain a strong relationship with New Zealand for the benefit of many of Japan’s industries and consumers.”

“Engagement with Japan in a bilateral FTA with New Zealand in conjunction with TPP developments would not only enhance this cooperation, but would further complement regional initiatives to secure for Japan the food and energy resources currently in high demand.” The Minister concluded “Together we have the ability to create opportunity out of adversity. We need to take the opportunity to join and participate in the activities of this fast-growing region.”

For more information please click here http://feeds.beehive.govt.nz/speech/keynote-address-3rd-japan-new-zealand-partnership-forum-japan-and-new-zealand-%E2%80%93-overcoming-ad