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Stephen Jacobi.
Although it is in “cold storage” for now, there is always hope for the Trans Pacific Partnership, says trade expert Stephen Jacobi.
Jacobi was commenting from APEC in Lima, Peru, on the passage of the TPP Implementation Act through the New Zealand Parliament this week. He joined other agri-business leaders in welcoming the legislation.
Jacobi told Rural News even though we are a small country New Zealand must show leadership in trade and that is why we needed to pass TPP.
“Remember we started TPP in the first place and now Japan is about to ratify,” says Jacobi, NZ International Business Forum (NZBIF) executive director.
NZIBF chair Malcolm Bailey says the legislation clearly tells the world that New Zealand is open for business and ready and capable of completing high quality, comprehensive and ambitious trade agreements.
“At a time when the future of global trade is uncertain at best, New Zealand cannot turn aside from the important effort to seek better rules for trade and investment,” Bailey says.
“New Zealand has been built on trade and open global markets benefit business, workers, their families and communities”.
NZIBF brings together leaders from some of the largest New Zealand exporters and international businesses including from the dairy, meat, wood, horticulture and seafood sectors as well as the peak business associations.
Bailey congratulated Trade Minister Todd McClay and select committee chair Mark Mitchell MP for their work in steering the TPP implementing legislation through the House.
“We have seen a great exercise in democracy as TPP has been subject to rigorous examination by stakeholders presenting to the Select Committee and by MPs in Parliament. That is how we make good treaties in New Zealand and TPP has been no exception.”
Bailey was disappointed that parties traditionally strongly supportive of New Zealand’s trade interests did not support TPP.
“We have said this before: if TPP were to proceed without New Zealand the economic consequences would be dire. Without TPP there is now a risk that our competitors especially in Japan and the United States will enjoy better market access,” he says.
“That is now something we urgently need to address and we urge all political parties to work together to restore the traditional bipartisan approach to trade policy in New Zealand.”
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