New Zealand supports PH accession to CPTPP

The Philippines’ move to enter the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will have the support of New Zealand, as reported by Department of Trade and Industry (DTI) Secretary Ramon Lopez after a virtual call with New Zealand Minister for Trade and Export Growth Damien O’ Connor on 10 May 2021.

The two countries discussed CPTPP as a valuable trade agreement that will benefit participating countries in widening their supply chain sources and markets that will improve the stakeholders’ competitiveness.

Both officials also talked about their talked about their respective countries’ vaccination rollout and the upcoming Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade 2021 from 4 to 5 June 2021, which New Zealand will host. They noted current announcements of major economies to voluntarily waive, even on a temporary basis, patents on vaccines in order to fast-track production and rollouts in many countries.

The Trade officials shall confer with their APEC counterparts to see how the World Trade Organization (WTO) will act on this critical matter and demonstrate the positive role that trade can play in responding to public health emergencies.