Ardern: no bailing on trade deal

''Everyone brings their own interests to the table.'' Prime Minister-elect Jacinda Ardern

Prime Minister-elect Jacinda Ardern faces a tough sell to impose last-minute changes on a free trade agreement between the 11 Pacific Rim countries, as they prepare to close the deal next month.

But walking away from the Trans-pacific Partnership 11 deal (TPP 11) was ‘‘not necessary’’, she said. It is unclear how receptive the 10 countries will be to major last-minute inclusions and whether such moves might open negotiations further as the international partners try to gain ground elsewhere.

Ardern has confirmed she will be heading to Vietnam in November for the Asia Pacific Economic Co-operation (Apec) leaders forum. She told TVNZ’S current affairs showq+a she would be seeking protections against foreign property speculators.

Apec will be her first international engagement as the leader of a country and she will rub shoulders with the leaders of the United States, Australia, Britain, Canada and Japan.

New Zealand has also been asked to again co-chair a TPP 11 ministerial meeting at Apec in November. The new trade minister is yet to be announced.

The leaders involved were hoping to sign the new agreement on the sidelines of Apec, which meant a tight timeline for trade officials to gain concessions while working to hold ground in other areas. Ardern said she was confident a Labour government policy to ban foreign ownership would not force her to walk from the deal.

‘‘I refuse to accept they’re mutually exclusive,’’ she said.

‘‘Our view is that it will be possible to balance our desire to make sure that we provide housing within our domestic housing market, that’s affordable, by easing demand and banning foreign speculators from buying domestic homes, whilst meeting our trade goals as well.’’

She said both parties she had formed the government with saw the need to grow exports, and to gain extra value exporters. Green Party concerns over investor state dispute clauses would continue to be worked through.

New Zealand has been deeply involved in the closing rounds of negotiations for the TPP 11. It remains the world’s largest free trade agreement, despite the withdrawal of the US by President Donald Trump.

The inclusion of Japan as the world’s third largest consumer economy was seen as a particular jewel to place in New Zealand’s free-trade crown, and modelling under the previous Government estimated the deal could add $2.5 billion annually to the economy and save New Zealand companies $222 million each year through the elimination of tariffs.

Ardern refuted the idea that moves to close off property ownership to foreign buyers would create a perception New Zealand was ‘‘closed to the world’’. ‘‘I want us to be seen to be open to ideas but a world leader in areas like the environment and climate change.

‘‘Not closed-minded, but outward facing, but looking after our interests. Given that most of our trading nations that we’ve recently signed free trade agreements with have done exactly the same thing, I doubt they would look upon us doing anything they wouldn’t consider doing for themselves.’’

She acknowledge her Apec agenda would be tough but she would not be forced into a TPP 11 she did not agree to.

‘‘My job is to go there and convince them to sign to an agreement that will be in our best interests as well. I’m not going to set out on this task having already decided it’s too hard.

‘‘I’ve operated in an international environment, albeit a slightly different one before. I’m used to different forms of negotiation in that kind of environment. Absolutely, everyone brings their own interests to the table,’’ she said.

‘‘That’s what a negotiation is, that’s what we’ve just had for the last 10 days. But my job will be to advocate on behalf of New Zealanders; both homeowners, potential home buyers and exporters.’’

Banning foreign property speculators has been laid out in Labour’s 100-day plan, which meant legislation likely had to be passed before Christmas.

Such legislation would also require the renegotiation of New Zealand’s free trade agreement with South Korea.