Source: New Zealand Government
Minister of State for Trade Nicola Grigg will travel to Laos this week to attend the Association of Southeast Asian Nations (ASEAN) Economic Ministers’ Meetings in Vientiane.
“The Government is committed to strengthening our relationship with ASEAN,” Ms Grigg says.
“With next year marking 50 years since New Zealand became an ASEAN dialogue partner, these meetings present a valuable opportunity to work with our ASEAN partners to further build on our trade and economic relationship.
“Collectively, ASEAN is New Zealand’s third-largest trading partner in two-way trade. Last year, New Zealand exported more than $9 billion of goods and services to the 10 ASEAN countries, counting for almost 10 percent of our total exports.”
While in Laos, Ms Grigg will attend meetings on the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) and it’s expected Ministers will announce the forthcoming entry into force of the AANZFTA Upgrade.
Ms Grigg says that New Zealand goods exports to ASEAN have almost doubled since AANZFTA’s entry into force in 2010.
“The upgrade will modernise the agreement, reduce red tape, and provide improved conditions for investors and service providers.
“This will help build on this momentum to meet the Government’s ambitious target of doubling the value of our exports over the next 10 years.
“Trade is integral to boosting our economy. It sustains New Zealanders across many sectors and is invaluable for supporting the growth that Kiwis deserve.
“Through our continued focus on enhancing trade settings with our overseas partners, this Government is committed to making meaningful changes that remove barriers to doing business, put more money in people’s pockets, and ultimately improve lives.”
Ms Grigg will also attend meetings on the Regional Comprehensive Economic Partnership (RCEP), and the East Asia Summit Economic Ministers Meeting.
