US open to free trade deal with New Zealand, Latest World News - The New Paper
World

US open to free trade deal with New Zealand

This article is more than 12 months old

WELLINGTON The United States has indicated that it is open to a free trade agreement (FTA) with New Zealand, New Zealand's Trade Minister said yesterday.

Mr Todd McClay visited Washington for high-level trade talks with the administration of US President Donald Trump, meeting with Commerce Secretary Wilbur Ross, newly-appointed US Trade Representative Robert Lighthizer and other advisers to the president.

"I've welcomed their interest in an FTA as a demonstration of the good shape our trading relationship is in," Mr McClay said.

Mr McClay said his centre-right government wants free trade agreements to cover 90 per cent of goods exported by 2030, up from just over half currently.

Two-way trade between the two countries reached US$16 billion (S$22 billion) last year, making the US New Zealand's third-largest individual trading partner, according to New Zealand's Ministry of Foreign Affairs and Trade.

New Zealand's US$180 billion economy depends on exports, and the country lobbied hard in favour of the Trans-Pacific Partnership (TPP) trade deal.

New Zealand is trying to negotiate a deal with the 11 remaining countries of the TPP after the US withdrew.

- REUTERS

New ZealandTRADINGunited states