FIT Partnership grows to 19 countries

The Future of Investment and Trade (FIT) Partnership has grown from 16 to 19 members, with Korea, Peru and Thailand formally joining at this week’s Ministerial meeting in Auckland, hosted by Trade and Investment Minister Todd McClay, with other countries considering membership in the near future.

“The FIT Partnership has grown to 19 members less than a year after launch. That tells you something. Small and medium sized trading nations want practical ways to improve opportunities for their exporters, and they see FIT delivering that,” Mr McClay says.

“We are a group of countries whose economies are all dependent on trade. We know the value of simple, consistent trade rules, especially when the global rules are less certain. Working with like-minded economies through FIT supports our exporters, strengthens our trading position and grows our economy.

“It also opens doors in emerging markets where our trade links are less developed. Trade grows when countries talk to each other. Businesses build relationships, and opportunities follow.”

The Ministerial meeting was one of the most significant trade gatherings New Zealand has hosted in many years. New Zealand is a founding member of the FIT Partnership, alongside Brunei Darussalam, Chile, Costa Rica, Iceland, Korea, Liechtenstein, Malaysia, Morocco, Norway, Panama, Paraguay, Peru, Rwanda, Singapore, Switzerland, Thailand, the United Arab Emirates and Uruguay. ...