The New Zealand Prime Minister John Key is to lead a trade delegation to Mexico, Colombia, Chile and Brazil, in an effort to capitalize on trade opportunities and strengthen bilateral relations.

Key's trip will begin on March 4, and he will be accompanied by the Primary Industries Minister Nathan Guy. Taken together, Mexico, Colombia, Chile and Brazil have a combined gross domestic product (GDP) of around USD4 trillion.

Key will hold bilateral talks with his counterpart in each jurisdiction. He regards his upcoming meetings with the new Mexican President, Peña Nieto, and with Sebastián Piñera, the Chilean President, as opportunities to discuss their participation in and progress on the Trans Pacific Partnership (TPP) negotiations. It is hoped that a deal will be concluded by October. Key said of the TPP: "We are pursuing an ambitious, high-quality agreement with the potential to boost trade, employment and economic growth in our countries."

In Colombia, the focus will be on trade liberalization and future co-operation in this area, both bilaterally and through forums like the World Trade Organization. Finally, although Key describes current levels of trade with Brazil as "modest," he believes there is "a lot of room for both countries to do more, particularly in agricultural collaboration and specialized manufacturing."

Announcing the mission, Key said: "Mexico, Colombia, Chile and Brazil are countries where New Zealand’s skills and expertise in areas like agri-business, renewable energy and education are a natural fit. They are also markets which present valuable opportunities for New Zealand businesses looking to export their services and expand their operations."

“The four countries, like New Zealand, are big producers of the food the rest of the world wants, particularly beef and dairy products. There is a lot of scope for greater collaboration between our countries as we focus on meeting the global demand for reliable, efficiently produced food and beverages,” Key stressed.

February 26, 2013

Source: Tax News

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