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The UK’s bid to join the CPTPP is being celebrated by New Zealand’s red meat sector, saying it proves the high-quality and expandable free trade framework model.
The UK’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is being celebrated by New Zealand’s red meat sector, saying it proves the high-quality and expandable free trade framework model.
Sam McIvor, Chief Executive of Beef + Lamb New Zealand (B+LNZ) said the CPTPP was founded with a vision for regional agreement that provided for the accession of new members. As the world’s sixth largest economy, the UK’s accession demonstrates the continued value of the agreement and its relevance to economies in the Indo-Pacific region and now to those across the Atlantic Ocean.
“The UK’s CPTPP accession complements New Zealand’s bilateral Free Trade Agreement (FTA), which is due to come into force in the coming months. Under the FTA, New Zealand’s beef and lamb will ultimately have quota and tariff-free access into the UK for the first time in decades.”
Sirma Karapeeva, Chief Executive of the MIA said, “The growth of the CPTPP makes its membership even more valuable, and the industry sees its continued expansion as a pathway to further integrate trade within the region and beyond.
“The CPTPP has come a long way since its beginnings as the P4 agreement, including Brunei, Chile and Singapore and shows that by starting small, with likeminded partners, taking creative approaches to securing free trade can achieve commercially meaningful outcomes for New Zealand’s red meat sector.”
“The continued growth of the CPTPP demonstrates the commitment to free trade amongst CPTPP members. It also sends an important message to the wider trade community, including the WTO, on the importance of the rules-based trading systems. There remains an appetite to expand trade rules, build closer trade relationships, and enhance regional supply chains for the benefit of businesses and consumers.”
ENDS