Federated Farmers give RCEP deal thumbs up

The prospect of reduced red tape from a single set of trade rules for the Asia Pacific is a major reason why New Zealand producers and exporters will give theRCEPdeal the thumbs up, according to Federated Farmers.

“Anything that takes us further along the path of ironing out border costs and delays, and reducing protectionist tariffs, for our exports has to be a good thing for farmers, and for New Zealand,” says Federated Farmers president Andrew Hoggard. “A degree of scepticism has been voiced about how quickly our GDP would be boosted by the estimated $2 billion a year from the Regional Comprehensive Economic Partnership agreement signed at the weekend, givenwe already have free trade agreements in one form or another with all of the 14 other signatory nations.

“But new opportunities should eventually flow. This is now the largest free trade agreement in the world, covering nations with nearly one third of the world’s population. It includes clear mechanisms to us to address any non-tariff barriers put up against our exported goods by the other signatories.”

RCEP delivers additional tariff elimination on a number of NZ food products into Indonesia, including sheepmeat, beef, fish and fish products, liquid milk, grated or powdered cheese, honey, avocados, tomatoes and persimmons.