New Zealand could act as “trading bridge” between South America and South East Asia, according to Todd McClay, New Zealand’s trade minister.
McClay’s assertion came amidst calls for public submissions on FTA negotiations with Pacific Alliance countries in Latin America, namely Mexico, Chile, Colombia and Peru.
McClay said a trade pact with these nations could generate 10,000 jobs in provincial New Zealand, as well as providing a valuable link to fast-growing Latin American markets and production bases.
“Mexico, Chile, Colombia and Peru combined have 221m consumers and a GDP of US$3.85 trillion, which is equivalent to the world’s sixth largest economy,” McClay explained.
“This is an important market for us now, and we want the public and the business community to consider how they might take advantage of the increased opportunities for both trade and investment that will result from an FTA.”
Negotiations with the Pacific Alliance will begin over the coming months and are expected to progress swiftly.
“The Government will be pushing hard for a high-quality agreement,” McClay added. “It’s important we hear from New Zealanders about what they would like to see prioritised and progressed during negotiations.”
