2.17.2005
US Lawmakers Urge Free-trade Pact with NZ (Stuff.co.nz)
17 February 2005
WASHINGTON: US lawmakers have urged the Bush administration to begin free-trade talks with New Zealand, a deal that could boost US exports to NZ by 25 per cent.
New Zealand has long been interested in such a pact with Washington, but was forced to sit on the sidelines while the United States negotiated a free-trade agreement with New Zealand's neighbour and close economic partner, Australia.
A group of 54 lawmakers, split nearly evenly between Republicans and Democrats, launched a campaign to persuade the Bush administration to begin negotiations.
The United States is one of the largest investors in the New Zealand economy, covering sectors ranging from agriculture to finance, chemicals and elecommunications.
Business groups estimate a free-trade pact would boost US exports to New Zealand by 25 per cent. The National Association of Manufacturers has put New Zealand on its list of top five potential free-trade partners for the United States.
Trade between the United States and New Zealand totalled about $US5 billion ($NZ7.07 billion) in 2004, with New Zealand enjoying close to a $US892 million surplus.
In contrast to Australia, New Zealand opposed the US invasion of Iraq. A 1980s-era disagreement over New Zealand's anti-nuclear policies and the expected strong opposition of many US farmers to an agreement also contributed to the Bush administration's reluctance to begin free-trade talks.
(More ... STUFF - STORY - HOME : New Zealand's leading news and information website) ¶ 12:14
WASHINGTON: US lawmakers have urged the Bush administration to begin free-trade talks with New Zealand, a deal that could boost US exports to NZ by 25 per cent.
New Zealand has long been interested in such a pact with Washington, but was forced to sit on the sidelines while the United States negotiated a free-trade agreement with New Zealand's neighbour and close economic partner, Australia.
A group of 54 lawmakers, split nearly evenly between Republicans and Democrats, launched a campaign to persuade the Bush administration to begin negotiations.
The United States is one of the largest investors in the New Zealand economy, covering sectors ranging from agriculture to finance, chemicals and elecommunications.
Business groups estimate a free-trade pact would boost US exports to New Zealand by 25 per cent. The National Association of Manufacturers has put New Zealand on its list of top five potential free-trade partners for the United States.
Trade between the United States and New Zealand totalled about $US5 billion ($NZ7.07 billion) in 2004, with New Zealand enjoying close to a $US892 million surplus.
In contrast to Australia, New Zealand opposed the US invasion of Iraq. A 1980s-era disagreement over New Zealand's anti-nuclear policies and the expected strong opposition of many US farmers to an agreement also contributed to the Bush administration's reluctance to begin free-trade talks.
(More ... STUFF - STORY - HOME : New Zealand's leading news and information website) ¶ 12:14
