Reading Time: 2 minutes The National Party has pledged to pursue negotiations for seven new trade agreements over the next five years if it is re-elected. The pledge is the centrepiece of National’s election year trade policy announced at the weekend. Those to be targeted are Brazil, Nigeria, Bangladesh, Switzerland, Argentina, Uruguay and the European Free Trade Association countries of Iceland, Norway and Liechtenstein. The countries have a combined population of 700 million people and GDP of US$5 trillion. “Our exports to these countries are
currently worth just $1.8 billion, demonstrating the scale of the opportunity for our exporters,” Trade Minister Todd McClay said. Sri Lanka, South Africa, Türkiye, Colombia, Morocco and Mauritius would form a second group with which negotiations would be prioritised over the coming decade. The Meat Industry Association said it welcomed more trade agreements but didn’t say which ones were priorities for meat exporters. “Our exporters already reach more than 100 markets around the world, and this diversity helps the sector navigate volatility in global markets,”
MIA chair Nathan Guy said. The MIA also welcomed a separate pledge by the National Party to eliminate non-tariff barriers costing exporters $1 billion. National said it would do this by expanding paperless trade and digital customs. “Non-tariff barriers are still estimated to cost the sector about $1.5bn each year,” Guy said. “Reducing those barriers would deliver benefits from farms and processing plants through to local services and households.” Among the countries prioritised by National for new trade negotiations, Bangladesh was recently singled out by
the dairy industry. In its submission to the parliamentary select committee considering the India-NZ free trade agreement, the Dairy Companies Association said NZ dairy exporters have been put on the back foot in the Bangladesh market following the country’s recent agreement to eliminate tariffs on dairy imports from the United States. NZ dairy exports to Bangladesh are worth $500m a year and it had been a growing market. “NZ’s experience of tariff disadvantages to other exporters has been one of trade erosion and if NZ
doesn’t move forward with this market we risk moving further backwards,” DCANZ said.
National Party, trade deals, Todd McClay, Nathan Guy, non-tariff barriers, paperless trade, digital customs, Bangladesh, dairy industry, DCANZ, Meat Industry Association