Trade Minister Todd McClay travels to Vietnam today to hold talks with Prime Minister Nguyen Xuan Phuc and Trade Minister Tran Tuan Anh to discuss developments for the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP) Agreements.
“New Zealand and Vietnam are both parties to the TPP Agreement and the RCEP negotiation and we have a mutual commitment to high-quality trade deals that create opportunity for our citizens,” Mr McClay says.
“The Asia-Pacific is the fastest growing region in the world and this presents a huge number of opportunities for our farmers, growers, exporters and our wider economy.”
Vietnam is due to host the APEC trade Minister meeting beginning on the 21st of May, where meetings on both the TPP and RCEP will also take place.
“We appreciate Vietnam’s hosting of APEC and its commitment to trade liberalisation. It has also rapidly grown into an important market for New Zealand exporters,” Mr McClay says.
“Since the ASEAN Australia New Zealand Free Trade Agreement (AANZFTA) came into force in 2009 our two-way trade with Vietnam has more than tripled from $430 Million in 2009 to $1.3 billion last year.
“This visit will be an important opportunity to take stock of what has been achieved and discuss how we can continue to deepen this hugely beneficial relationship for our economies.”