New Zealand seeking free trade growth at G20 Trade Ministers Meeting

0 Comment(s)Print E-mail Xinhua, July 16, 2014
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New Zealand Trade Minister Tim Groser will attend the G20 Trade Ministers Meeting in Sydney this weekend as the country seeks to strengthen links with the organization representing the world's major economies.

"While not a core member of the G20, New Zealand is supportive of the G20's aims, in particular its aspirations to lift global economic growth," Groser said in a statement Wednesday.

"G20 countries represent almost 85 percent of global GDP, 75 percent of international trade, and two-thirds of the world's population. Given the importance of trade for a small and distant economy such as New Zealand, any actions that will support stronger and more sustainable global growth are clearly in our interests."

Discussions would focus on trade actions that member countries would take to bolster growth, comprising a mix of domestic policy actions aimed at raising the level of G20 output by at least 2 percent above the currently projected level in the next five years.

Ministers would also discuss how to forge a stronger global trading system.

In the margins of the meeting, Groser would meet with G20 counterparts and business representatives to discuss trade and investment opportunities in New Zealand as well as progress on New Zealand's free trade agreement agenda.

As chair of the G20 for 2014, Australia has invited New Zealand to participate in all G20-related activities as a guest.

Australia's G20 year will culminate in a leaders summit on Nov. 15 and 16 in Brisbane. Endi

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