ISDS Case Map
New Zealand
New Zealand is to forge ahead with trying to secure a free trade deal with Gulf states.
Trade minister Toshihiro Nikai's announcement earlier this month that Japan plans to start talks with 15 other nations in 2008 to create an Asia-Oceania free-trade zone took many by surprise -- not only experts but also those within government -- sparking speculation about the ministry's true intentions.
Asean has told New Zealand, whose big dairy and meat product trade to the regional grouping has slowed in recent years, that it risks losing market share to newer competitors muscling their way into the area unless its exporters turn more creative and move quickly to meet changing regional consumer needs.
New Zealand will probably end up dealing with 10 schedules for the gradual phase-out of tariffs, one for each of the Asean countries.
Japan's proposed Asian regional free trade agreement got tepid support today from Trade Minister Phil Goff, who told the Gateway to Asean Summit in Auckland that the plan was "consistent" with other activities already well underway.
New Zealand could be sidelined from trading with some of the world's fastest-growing economies if it fails to push ahead with a network of Asian free trade deals, Associate Minister for Trade Negotiations Jim Sutton says.
New Zealand is on track to become the first Western country to clinch a free trade agreement with China after the leaders of both countries set a goal to secure such a deal within one to two years.
Japan's sponsorship of a vast free trade area including most of Asia, Australia and New Zealand is expected to be on the agenda when Associate Trade Minister Jim Sutton visits Tokyo later this month.
The Japanese government plans to propose the formation of an Asian free-trade zone which could include half the world's population and rival the EU and NAFTA, an official of the trade ministry said.
A delegation of New Zealand political and business leaders is heading for the United States to forge closer links between the countries, despite fading hopes of a free trade deal in the short term.
