Upgraded AANZFTA Practical And Forward-looking -- NZ Trade Mnister
By Maizatul Jamny Muhammad Rosli
KUALA LUMPUR, Sept 25 (Bernama) -- New Zealand has described the upgraded ASEAN-Australia-New Zealand free trade agreement (AANZFTA) as a strong example of how the two countries and the grouping address current economic challenges practically and progressively.
NZ Trade and Investment Minister Todd McClay said his country marked 50 years of dialogue with ASEAN and the value of this close and trusted partnership cannot be overstated.
“I have spoken with many regularly this year and discussed our shared commitment to open markets and a strong rules-based trading system. It is good to be here today reaffirming that commitment,” McClay said at the 30th AEM-Closer Economic Relations (CER) consultation today.
He said the upgraded AANZFTA is delivering real benefits to businesses and strengthening regional resilience at a time when it is most needed.
Meanwhile, Australia’s Trade and Tourism Minister Don Farrell said in his opening remarks that the partnership is anchored in trust and friendship.
“(The partnership) allows us to discuss new and emerging challenges in global trade policy. I look forward to this productive meeting, particularly in discussing the implementation of AANZFTA, including how Australia and New Zealand’s regional trade and development programme is supporting ASEAN member states,” he said.
Chairing the meeting, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said Australia and New Zealand are among ASEAN’s most important economic partners, in terms of investments and trade.
“This year holds special significance as we celebrate the 50th anniversary of ASEAN’s dialogue relations with New Zealand and the 51st anniversary with Australia. This milestone serves as a testament to the depth of our partnership and the trust cultivated over years of constructive engagement,” he said.
Tengku Zafrul said the discussions included updates on the implementation of the second protocol to amend the AANZFTA and cooperation under the implementation support programme.
The meeting also addressed the outcomes of the ASEAN-CER Integration Partnership Forum on digital economy integration, with forward-looking discussions on World Trade Organization (WTO) reform and regional economic developments.
The 30th AEM-CER consultation was held in conjunction with the 57th ASEAN Economic Ministers’ (AEM) meeting, which started on Monday.
-- BERNAMA