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WELLINGTON, Oct. 13 (Xinhua) -- New Zealand Trade Minister Tim Groser Thursday welcomed the ratification with strong bipartisan support in the United States Congress of the U.S. free trade agreements with Panama, Colombia, and Korea.
"This is exactly the shot in the arm that our own trade negotiations with the United States and our other partners in the TPP, or Trans-Pacific Partnership Negotiations, need," said Groser.
"The passage of these agreements sends a strong signal to the world about the commitment of the United States to trade liberalization and regional integration. It reaffirms the important role the United States can play as an Asia-Pacific power, especially in ongoing efforts to draw the economies of the Asia- Pacific closer together."
The agreements had been long stalled in the Congress and linked with the provision of continuing adjustment assistance to facilitate trade liberalization, which was also passed in both the House of Representatives and the Senate.
"In an obviously difficult international political and economic environment, it has taken skillful political management by political leaders in both Houses of Congress and the Administration to establish the consensus necessary for ratification. What is particularly pleasing is that the votes reveal a reasonably solid majority in favor of moving forward on trade," said Groser.
"We have a few more weeks before the APEC Meeting in Honolulu where trade ministers, and APEC Leaders, will have an opportunity for a high level political stock take of the negotiations.
"TPP provides yet another outstanding long-term trading opportunity for New Zealand. We look forward to conclusion of a high-quality, forward-looking Trans Pacific Partnership agreement that will generate jobs across the region, make it easier for firms to get ahead, and provide a possible pathway to achieving an eventual Free Trade Area of the Asia Pacific.
"We are encouraged by these developments in Washington and look forward to continuing to work closely with the United States."
October 13, 2011
Source: Xinhua News
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