Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

New Zealand in free-trade push ahead of China Premier Li visit

Published 03/23/2017, 06:30 PM
Updated 03/23/2017, 06:40 PM
© Reuters. New Zealand Prime Minister English during news conference at the chancellery in Berlin

© Reuters. New Zealand Prime Minister English during news conference at the chancellery in Berlin

WELLINGTON (Reuters) - New Zealand Prime Minister Bill English on Friday announced a renewed push to promote free trade in his first major trade policy announcement since taking over as leader last December.

New Zealand's $180 billion economy depends on exports, and the country lobbied hard in favor of the Trans-Pacific Partnership trade deal. It wants to push for an expansion of a free-trade agreement with China at a meeting with Chinese Premier Li Keqiang on Monday.

English said on Friday his center right government wants free-trade agreements to cover 90 percent of goods exported by 2030, up from just over half currently.

"The biggest threat to our economic success at the moment is disruption of international trade," English said at a business event in Auckland on Friday.

The new policy includes funds for an expanded trade bureaucracy, including new diplomatic posts in Dublin and Colombo.

The New Zealand government is in the process of negotiating trade deals with the Gulf states and the European Union.

English's remarks echo comments from New Zealand's Reserve Bank governor, Graeme Wheeler, who earlier this month said U.S. protectionism was the greatest source of uncertainty for the world economy.

The announcement comes ahead of a general election in September, with English's National party currently leading opinion polls.

© Reuters. New Zealand Prime Minister English during news conference at the chancellery in Berlin

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.