FONTERRA WELCOMES TRADE AGENDA

John Wilson, Fonterra Chairman, has welcomed the release of the Trade Agenda 2030. “Trade is critically important to New Zealand’s overall economic success. I’m pleased to see the government increasing resources and building capability to better help exporters to succeed.  New Zealand has a great track record in trade liberalisation and the flexible approach that is suggested for achieving further gains makes good sense in a very challenging global context,” Wilson said. Fonterra exports 95% of what they produce to over 100 markets and further improvements in the global trading system, including Free Trade Agreements and domestic subsidy reform would add real value to its business as well as to farmers and all New Zealanders, Wilson explained. “Dairy remains one of the most protected sectors in the world and there is much to be done to level the playing field. A recent NZIER report put the value of removing tariffs on dairy alone at about $1.3 billion per annum to the NZ economy, and the value of removing non-tariff barriers (in the APEC region alone) at about $3 billion per annum. Trade Agenda 2030 identifies both of these as priorities for the government’s future efforts and we look forward to supporting it,” Wilson added.