Trade ministers from 16 member economies, along with observers from five additional countries, have gathered in Auckland for the second Future of Investment and Trade (FITP) Partnership Ministerial Meeting, one of New Zealand’s largest international trade events in recent decades.
Chaired by Trade and Investment Minister Todd McClay, the meeting brings together around 100 delegates from 21 countries to discuss reducing trade barriers, simplifying regulations and strengthening global trade rules.
McClay said the talks come “at a time when the world trading system is under real pressure” and are focused on “reducing barriers and boosting trade”. Discussions will also cover tackling non-tariff barriers, which McClay said affect around $9 billion of New Zealand trade, as well as promoting paperless and digital trade, addressing trade-distorting subsidies, and reinforcing international trade rules. The meeting includes founding FITP members from Europe, Asia, the Middle East, Africa, Latin America and the Pacific, with Korea, Peru, Thailand, Fiji and Samoa attending as observers.
Image credit: Eric Feng
