NZIBF Backs Future of Investment and Trade (FIT) Partnership
The New Zealand International Business Forum (NZIBF) has welcomed the Future of Investment and Trade (FIT) Partnership Ministerial Meeting taking place in Auckland this week, saying it provides an important opportunity for trade-dependent economies to strengthen the rules-based trading system and advance practical initiatives that make it easier for businesses to trade across borders.
The FIT Partnership brings together Brunei, Chile, Costa Rica, Iceland, Liechtenstein, Malaysia, Morocco, New Zealand, Norway, Panama, Paraguay, Rwanda, Singapore, Switzerland, the United Arab Emirates and Uruguay to advance trade and investment, strengthen economic cooperation and develop practical solutions to contemporary trade challenges.
NZIBF said the Partnership comes at an important time, as geopolitical tensions rise and the rules-based international trading system comes under increasing pressure. By bringing together economies from different regions, the Partnership complements the multilateral trading system by helping members work together on initiatives that improve the flow of trade and investment.
NZIBF Executive Director Felicity Roxburgh said trade remains central to New Zealand’s economic prosperity, but exporters are operating in an increasingly complex and unpredictable global environment.
“The FIT Partnership is focused on initiatives that matter to exporters—from strengthening supply chains and reducing non-tariff barriers to improving investment flows, advancing digital trade and harnessing new technologies. These are the kinds of initiatives that can lower the cost and complexity of doing business internationally.”
Roxburgh said New Zealand had a strong track record of shaping innovative trade initiatives and working with like-minded economies to modernise the global trading system.
“No country can tackle today’s trade challenges alone. Partnerships such as FIT enable trade-dependent economies to work together to strengthen the rules-based trading system while delivering practical benefits that help exporters compete internationally.”
She said NZIBF looked forward to the outcomes of the Ministerial Meeting and the continued development of practical initiatives that support exporters and reinforce confidence in an open, rules-based trading system.
ENDS
