John Key postpones South America visit

After a series of earthquakes, Prime Minister John Key will postpone his trip to Argentina but intends to travel to an Apec meeting later in the week.

Mr Key was scheduled to depart tomorrow for Buenos Aires for meetings aimed at strengthening New Zealand’s trade, economic and political ties in South America. He is also expected in Lima, Peru to attend the Apec economic leaders' meeting on November 19-20. 

As a result of last night’s earthquake, Mr Key has made the decision to postpone his visit to Argentina.

“The situation is still unfolding and we don’t yet know the full extent of the damage,” Mr Key says. 

“I believe it is better I remain in New Zealand in the coming days to offer my assistance and support until we have a better understanding of the event’s full impact.

“I want to thank Civil Defence and emergency services around the country who responded so rapidly, and also those New Zealanders who supported a large number of people who were evacuated. My officials have conveyed our apologies to the Argentine government and I intend to call President Mauricio Macri in the next few days,” Mr Key says.

The decision on whether the trip to Apec will go ahead will be made later this week.

Apec context
Sluggish world economic growth and rising scepticism of globalisation paint the international forum this year. However, Apec countries appear to be performing better than most other regions,  Apec Committee on Trade and Investment chairwoman Marie Sherylyn Aquia says.

“Trade is slow but Apec economies are doing better than the rest of the world. This is because most Apec economies are very open already and remain a champion for free and open trade. In a way, that has helped them maintain an open regional economy and continue to benefit from it,” she says.

The teetering Trans Pacific Partnership (TPP) will also be on the agenda as many of the participants are negotiating partners. Yet a recent election in the US places the trade deal in uncertain terms, leading to many Asia Pacific leaders to openly ask this week to consider a trade pact with China and Russia but not the US.

Speaking to journalists ahead of the Apec meeting, Peruvian president Pedro Pablo Kuczynski presented the idea after learning that US President Barack Obama will not legislate the TPP before he leaves office in January.

“I think it would be best to have an Asia-Pacific deal that includes China and includes Russia as well. It would have to be a new negotiation,” he says.