9 October 2013

Bali keeps TPP on right track, say NZ businesses

The NZUS Council and NZ International Business Forum have both welcomed the progress made on the Trans Pacific Partnership (TPP) at the Bali APEC meetings.

"TPP Leaders have confirmed that TPP is on track to deliver an ambitious, high quality and comprehensive outcome – that's what we were looking for from these meetings," said Stephen Jacobi who has been in Bali this week. Stephen is Executive Director of both NZUS Council and NZ International Business Forum.

Mr Jacobi said Bali was never about resolving all the remaining areas of difficulty but about narrowing the differences and giving political direction to negotiators to get the job done by the end of the year

"TPP is still a work in progress. Negotiators have more hard talk to get through. The issues under discussion are substantive and getting it right is important. But the Leaders' statement is pretty clear about what they expect to happen and the business community will be watching this process and doing all it can to ensure that TPP is brought home."

Mr Jacobi reaffirmed that while business wanted to see a conclusion to TPP by year end, substance was critical.

"TPP has the opportunity to transform the way business is done in the Asia Pacific region. Something as important as this cannot be left to a quick fix. Negotiators will undoubtedly do their best to deliver on the Leaders' expectations but if it takes longer then so be it."

Mr Jacobi congratulated Prime Minister John Key, Trade Minister Tim Groser and their officials for the efforts they had made in Bali.

"New Zealand has shown great leadership this week. There is a lot at stake from a successful outcome to TPP and we can be happy with a good week's work," said Mr Jacobi.

Note to Editors: A copy of the Bali statement can be found at http://iipdigital.usembassy.gov/st/english/texttrans/2013/10/20131008284173.html

The New Zealand United States Council is committed to fostering and developing a strong and mutually beneficial relationship between New Zealand and the United States. Founded in 2001, the Council is an advocate for the expansion of trade and economic links between the two countries including a comprehensive free trade agreement achieved either bilaterally or in the context of an expanded Trans Pacific Partnership (TPP). The Council works closely with business groups in New Zealand and with government agencies, especially the Ministry of Foreign Affairs and Trade and the New Zealand Embassy in Washington. For more information, visit www.nzuscouncil.com.

About the NZ International Business Forum
NZIBF is a business organisation which aims to generate wealth for New Zealanders by helping ensure that New Zealand enterprises are fully integrated and engaged in the global economy and New Zealand’s global competitive position is maximised. NZIBF participants represent companies and sectors with a turnover of over $20 billion. NZIBF also provides policy advice to the New Zealand members of the APEC Business Advisory Council (ABAC). For more information, visit www.nzibf.co.nz.

About Trade Works
Trade Works is an initiative developed by the NZ US Council and leading New Zealand business organisations to encourage the New Zealand public to understand the benefits of trade and investment for New Zealand and the potential benefits of TPP. For more information, visit www.tradeworks.org.nz.

ENDS

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