New Zealand Trade Minister Todd McClay says his visit to Washington DC for high-level trade talks was successful, with the US indicating it is open to a free trade agreement (FTA).

McClay said that US Commerce Secretary Wilbur Ross "did not see any major issues, as our relationship was in good shape."

"It's clear the US will take time considering its trade strategy," McClay said. "They're likely to have a considerable workload over the next couple of years with NAFTA renegotiations and some big bilateral deals to do. However, I've welcomed their interest in an FTA as a demonstration of the good shape our trading relationship is in."

McClay said that a trade agreement with the US would help the country achieve its target of having 90 percent of its goods trade covered by FTAs by 2030.

He added that there is considerable scope to grow trade and investment with the US.

Trade between the two countries reached USD16bn in 2016.

Source: Tax News
 

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