7 May 2012

Asia-Pacific free trade tipped to grow NZ economy

5:14 am on 7 May 2012

A lobby group urging greater trade with the United States says research shows trade liberalisation in the Asia-Pacific region would make the New Zealand economy grow.

The New Zealand - United States Business Council says the Trans Pacific Partnership, which is currently under negotiation, could add about $2.1 billion per year to the economy by 2025 and boost GDP by 0.83%.

The research was done by the East-West Center in Hawaii and reviewed for the council by the New Zealand Institute of Economic Research.

Countries involved in the negotiations are Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, the United States and Vietnam. Japan, Canada and Mexico are in the wings.