Tim Groser and Economic Development Minister Steven Joyce have outlined an update of the Business Growth Agenda in relation to export markets.
Tim Groser and Economic Development Minister Steven Joyce have outlined an update of the Business Growth Agenda in relation to export markets.
Trade Minister Tim Groser says he remains 90 per cent certain that negotiations towards the Trans-Pacific Partnership agreement will be completed later this year.
"There is no formal timetable, but as I have now been arguing for a long time, the absence of a formal timetable is essentially irrelevant," Groser told business leaders at a Business Growth Agenda event in Auckland this morning. "Formal timetables are themselves, in my opinion, not worth the paper they are written on."
What did matter, he said, was the "informal consensus" and the only areas that remained to be resolved were issues around intellectual property in pharmaceuticals, dairy and the automotive industry.
"Everything else is pretty clear where the landing zone is," Groser said. "When we have the right basis for taking some quite tough political decisions in those three areas ... then we will get this [the TPP] over the line."
Talks between the 12 nations involved in the TPP broke down in Hawaii in late July.
Groser said completion of the deal was "enormously important" to US President Barack Obama and Japanese Prime Minister Shinzo Abe, as well as being "a huge prize" for New Zealand and Australia.
Thousands of people took part in anti-TPP demonstrations across New Zealand last month.
There are concerns that the deal could disadvantage New Zealanders, including through making pharmaceuticals more expensive.
Meanwhile, Groser and Economic Development Minister Steven Joyce this morning outlined an update of the Business Growth Agenda in relation to export markets.
The updated strategy, which comes amid a darkening outlook for the Chinese economy, includes "lifting linkages" for New Zealand firms around the Pacific Rim and into Europe.
"The strategy reflects the changing global environment and will ensure the New Zealand economy remains well positioned to ride out economic shocks - as well as enabling businesses to make the most of new and existing relationships," the two ministers said in a statement.
Joyce said the ongoing fragility of the world economy highlighted the importance of strengthening relationships with key trading partners, particularly those in the Asia Pacific region.
Economic Development Minister Steven Joyce.
"This BGA update lays out a full programme over the next year as we work to strengthen existing relationships in South East Asia, China and Latin America, while also looking to advance a free trade agreement with the European Union."
"Actions in the Export Markets programme include seeking a strategic partnership with South East Asian nations, developing a new partnership with the Pacific Alliance countries in South America, pursuing the launch of an EU-NZ FTA negotiation, negotiating an FTA upgrade with China, and seeking a successful conclusion to the TPP negotiations." the statement said.
Minister of Foreign Affairs Murray McCully also announced this morning that New Zealand would open an embassy in Bogota, the Colombian capital, next year.
Groser, who was in the Middle East last week, said the Government's longer-term policies included "bringing in" other key markets such as the Gulf states and India.
"We've already got huge coverage of the Asia Pacific when and if we get TPP over the line," he said. "We've already been focusing with increasing force over the last five or six years of our government on non-Asian emerging economies."
Joyce said the Government hadn't "just suddenly woken up" - following China's economic downturn - and started talking about market diversification.
"We've been working on this for a while and we're just highlighting it and accelerating it," he said. "Tim [Groser] has been working on the Pacific Alliance discussions for a good two or three years ... everybody is recognising that while China will continue to be very important, there is a need to move on to the next opportunities and diversify further."
The ministers said the Government remained committed to its goal of lifting exports to 40 per cent of GDP by 2025.
