Rules, of course, are policed by some sort of governing or independent body so if someone does something amiss they can be judged by the rules they agreed to adhere to. So far, so good.
According to trade specialist Vangelis Vitalis the global rules of trade are beginning to erode, which is problematic for a nation like New Zealand that depends on trade to make a buck and build all those important things like schools and hospitals. He says other nations – we’re looking at you United Kingdom and United States – aren’t so keen to engage with the international community. They apparently don’t see the value in working together for mutual benefit. So, you end up with Brexit and the UK and the European Union wanting to slice up our red meat quota there before Brexit deal is even done. And you end up with tariffs being dumped on products from a specific nation.
But wait! There’s the World Trade Organisation. It will take a look at these tariffs and sort it all out. Well, Vitalis says its ability to pass judgment on grievances is lessening, with a lack of judges to rule on cases and a lack of will from various nations to play by the rules. So what’s the solution?
Vitalis tells us we need to continue to play by the rules, play the long game. And we need to continue to work on those free-trade agreements that will lock in access for our exporters for the long term. If our free-trade sandpit gets big enough and profitable enough, maybe some of those who’ve been unwilling to play will will join in.
Bryan Gibson
