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New Zealand gov't welcomes WTO praise for open economy

Xinhua, July 2, 2015 Adjust font size:

New Zealand Trade Minister Tim Groser on Thursday welcomed the World Trade Organization's commendation of the country's open and transparent trade policy.

The WTO Trade Policy Review, released Monday, praised New Zealand as "among the most open economies in the world," although it also raised concerns about high levels of private debt.

"New Zealand was also highly commended for its economic policies, which are reflected in its high rankings in international indicators of ease of doing business, economic openness and human development," Groser said in a statement.

"Members also expressed confidence that New Zealand had strong fundamentals and trade policy settings for the achievement of sustainable growth."

New Zealand is subject to a Trade Policy Review within the WTO every six years.

This was its fifth review and the next will take place in 2021. Endi