WTO Ministerial Conference: New Zealand Advances Digital Trade and Fuel Talks

Trade and Investment Minister Todd McClay has wrapped up negotiations as Vice Chair at the 14th Ministerial Conference of the World Trade Organization (WTO) in Yaoundé, Cameroon.

Disappointingly, proposals to reform the WTO and to extend the WTO-wide prohibition on the imposition of tariffs on digital trade flows could not be agreed in time, Mr McClay says.

However, all Members agreed the WTO needs to be modernised.

An agreement on the final package is in reach and securing these decisions through further work in Geneva will now be the priority for New Zealand.

Mr McClay also met with counterparts from 17 countries during the conference, including the United States, India, China, European Union, United Arab Emiratesand Saudi Arabia.

While fuel supplies remain healthy for New Zealand, I took the opportunity to meet with Ministers from Singapore, and Korea, as well as Heads of Delegation from Saudi Arabia and Malaysia, to discuss critical fuel supply chains, Mr McClay says.

Progressing the implementation of a new Electronic Commerce Agreement, underpinning approximately US$159 billion in trade, was agreed to by 66 WTO Members – who between them account for 70 per cent of global trade.

This significant outcome will provide more predictability to our small businesses and exporters including through a permanent ban on tariffs on digital trade flows between the parties, Mr McClay says.

New Zealand also continues to pursue progress on negotiations to limit fisheries and agricultural subsidies, which are a significant issue in reducing our exporters’ returns.

Labour Party Trade and Export Growth spokesperson Damien O'Connor joined the New Zealand delegation.