Members of the Future of Investment and Trade (FIT) Partnership have committed to practical initiatives aimed at enhancing trade and reducing barriers at their meeting in Auckland today, says Trade and Investment Minister Todd McClay and Chair of the ministerial meeting.

“It was a pleasure to host ministers and representatives from Africa, the Middle East, Asia, Europe, Latin America and the Pacific, in Auckland. New Zealand is well respected for its principled approach to rules-based trade and reduced trade barriers. This was a chance to show the world how we do things and what we have to offer.

“The outcomes achieved illustrate the shared desire of ministers to take practical steps to enhance trade.

“I was pleased to lead the new arrangement focused on tackling non-tariff barriers (NTBs). For New Zealand alone, they impact an estimated $9 billion of trade, hitting the primary sector hardest,” Mr McClay says. “As small and medium sized economies, they directly affect whether our exporters can compete in-market.”

Outcomes from the meeting included:

“The meeting also welcomed three new members – Korea, Peru and Thailand – bringing the total membership to 19, demonstrating the value of the work the FIT Partnership is undertaking. We also welcomed Ministers from Fiji and Samoa as guests of the chair.”

For more information on the meeting outcomes go tohttps://www.mfat.govt.nz/en/trade/the-future-of-investment-and-trade-partnership/the-future-of-investment-and-trade-partnership