A joint proposal aimed at tackling non-tariff barriers (NTBs) in the international trade of forest and wood products has been submitted to the World Trade Organisation.
New Zealand and the US have collaborated to formulate the plan which they hope will secure the sector’s contribution to boosting global welfare.
New Zealand’s trade negotiations minister Jim Sutton said NTBs are increasingly significant barriers to New Zealand’s exports and that the proposal could tackle some of the key ones.
“Removing barriers to trade in the forest products sector will help to secure the sector’s contribution to global welfare” |
Jim Sutton, New Zealand trade negotiations minister |
Forestry is New Zealand’s third largest export sector, worth more than NZ$3bn a year and employing more than 26,000.
The industry says its biggest barrier to its exports are NTBs in overseas markets, such as regulations that unfairly limit the use of timber in building construction.
Mr Sutton said: “The forest products sector is an important industry in both developed and developing countries, providing sustainable economic returns and employment. Removing barriers to trade in this sector will therefore help to secure this sector’s contribution to boosting global welfare.”