Friday, March 29, 2024

Supply chains to stay open

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New Zealand and seven other countries have agreed to keep essential supply chains open.
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Others to pledge support are Uruguay, Canada, Australia, Chile, Brunei, Myanmar and Singapore. All except Myanmar are members of the Comprehensive and Progressive Trans-Pacific Partnership.

Though those nations are not big importers of NZ primary products it’s important to keep supply chains open, Trade Minister David Parker says.

“It is important we have assurance from some of our key partners that trade lines between us will remain open, including via air and sea freight, to facilitate the flow of goods including essential supplies.

“Trade policy on its own can’t solve the problems and challenges we face but it can and must be part of the solution.”

APEC Business Advisory Council chairwoman Dato Rohana Tan Sri Mahmood said recovery will take longer if the engines of trade and investment cannot be restarted quickly. 

“We urge APEC economies to announce a standstill on all new trade-restrictive measures for the rest of this year and to agree concrete actions to reduce protectionism.

“Our most vulnerable communities need to be able to access food and other essential household products. Our businesses need to have the confidence to re-invest and rebuild our economies. Protectionism of any sort impedes the road to recovery.”

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