McClay receives Brexit assurances at G20 trade summit

Trade Minister Todd McClay says he has received strong assurances that New Zealand's trade interests will not be adversely affected as a result of the Brexit vote.

His assurances come as Prime Minister John Key begins a week-long round of European capitals to push New Zealand's trade case in the post-Brexit environment.



While in China at the weekend, Mr McClay met European Union (EU) Trade Commissioner Cecelia Malmström, UK Minister of State for Trade and Investment Lord Price, and trade and economic ministers from Germany, France, Spain, Italy and the Netherlands at the G20 trade ministers meeting in Shanghai.



"I have sought, and received, assurances that the trade relationship we share with the EU and the UK will continue and that New Zealand will be involved In any discussions between the EU and UK in relation to anything that involves our trade,” Mr McClay says in a statement issued this morning.

"All parties spoke of the need for calm reflection and an orderly process of discussion on trade.”

He says EU Commissioner Malmström has also confirmed that New Zealand remains on track to negotiate a free-trade agreement with the EU.

"Considerable effort has been put in by both sides over the past few years as a high-quality trade agreement is in all parties’ interests,” Mr McClay says.



"We have a lot in common with the EU, including working toward further trade rules around agriculture, SMEs, and services in the World Trade Organisation. This cooperation will continue, as will our access to the EU market, valued at $8.6 billion per year.”

UK to seek bilateral agreement
In his discussions with Lord Price, Mr McClay expressed interest in negotiating a bilateral trade agreement with the UK once it was in a position to do so.

"Timing of a bilateral agreement would be dependent on discussions the UK must first have with the EU, but we agreed that it is in the interests of both the EU and New Zealand to negotiate a high-quality agreement,” Mr McClay says.

"In the meantime, I have confirmed that the New Zealand government will work closely with the UK on trade matters and will look for opportunities to cooperate as soon as possible.

“I expect this will include ministerial engagement and meetings between trade officials. We remain available to provide assistance to the UK over the coming months and will do everything possible to promote our joint trade interests and trading relationship with both the EU and UK.”

Mr McClay has received invitations to visit Brussels and London in the coming months to further these discussions.  
But these will be preceded by Mr Key's own series of engagements, which start in Rome with Italian Prime Minister Matteo Renzi.

This will be followed by visits to London, where the Tories are voting on a new leader, Paris for Bastille Day (July 14) and a scheduled meeting with President François Hollande, and possibly top EU officials in Brussels.

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