New Zealand shores up Latin America trade amid Brexit uncertainty

New Zealand Trade Minister Todd McClay will be looking to drum up trade with Latin America this week amid uncertainty over links with the post-Brexit European Union.

McClay would participate in meetings of the Pacific Alliance Summit - a regional integration grouping comprising Chile, Colombia, Mexico and Peru - in Puerto Varas on June 29 and 30.

Access to a wide range of markets helped to insulate New Zealand during difficult times, McClay said in a statement Monday.

"While a free trade agreement with the European Union and engagement with a post-Brexit United Kingdom are high on our agenda, we will continue to support our existing trade agreements in Asia and South America and continue to promote engagement with new and emerging markets," said McClay.

New Zealand has observer status in the alliance, which accounts for more than a third of gross domestic product in Latin America.

"New Zealand has a strong relationship with the Pacific Alliance and shares their objective of open markets and regional integration," McClay said.

"I will meet with Pacific Alliance Ministers to discuss how we can facilitate trade between our economies and how New Zealand can enhance its engagement with this key regional grouping."

New Zealand has recently begun negotiations on a free trade agreement (FTA) with the European Union, and Prime Minister John Key said Monday that an FTA would now be required with the United Kingdom too. Endit