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New Zealand accepts WTO border agreement

Xinhua, September 30, 2015 Adjust font size:

New Zealand has formally accepted a World Trade Organization (WTO) agreement designed to facilitate trade through simplifying Customs and border processes, Trade Minister Tim Groser said Wednesday.

Implementation of the Trade Facilitation Agreement (TFA) would provide concrete benefits to New Zealand businesses over time, minimizing costs associated with getting products across borders and into the marketplace, Groser said in a statement.

In particular, New Zealand's agricultural exporters would benefit from a provision to provide for the release of perishable goods within the shortest possible time.

"New Zealand's acceptance of the TFA reflects New Zealand's commitment to the WTO and the multilateral trading system. New Zealand is working actively with other WTO members in the lead up to 10th WTO Ministerial Conference to be held in Kenya in December this year," said Groser.

"A credible and effective WTO is of long-term importance for New Zealand as a small country dependent on global trade."

The TFA would enter into force once two thirds of WTO Members have accepted it. Endi