30 January 2005
Media Statement

WTO negotiations get great boost

A joint experts group is to be formed to recommend ways of strengthening bilateral trade and investment between New Zealand and Mexico, Trade Negotiations Minister Jim Sutton said today.

Mr Sutton and his Mexican counterpart, the Hon. Fernando Canales, signed the agreement in Davos Switzerland, while both were attending WTO trade talks.

Mr Sutton said the agreement was a welcome development.

“Mexico is an important trade partner for New Zealand, our largest in Latin America and 15th largest overall last year. Total trade with Mexico in the year to June 2004 was exports from New Zealand $433 million, imports from Mexico $97 million.”

The joint experts group, which will have representation from government, business and academic communities, will meet and report back to the two Governments on ways to further promote trade and investment.

Mr Sutton said the dates of the first meeting and the membership of the group were being worked out.

“I personally hope this will be a further step towards New Zealand and Mexico starting negotiations on a closer economic partnership.”

ENDS

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