Made in the World

‘Made in New Zealand’.  ‘Product of the Philippines’.  Do these terms make sense any more?  New Zealand’s Minister of Trade Tim Groser thinks that it’s more accurate for some products to say they are ‘Made in the World’.

He’s referring to the phenomenon of ‘trade in intermediate goods’, and global supply chains.  Mr Groser spoke this week in China about how this phenomenon is changing the nature of world trade, and what this means for economic integration in the Asia-Pacific region.

He discussed regional free trade agreements that are under discussion or being negotiated, including a proposal for an ASEAN +6 agreement that would include all 10 ASEAN countries plus New Zealand, Australia, India, China, Korea and Japan.  He also mentioned the high-ambition Trans-Pacific Partnership that negotiators are making good progress on, and that the Philippines has expressed an interest in.

In the speech, Mr Groser also talked about the success of New Zealand’s trade deals with China and with ASEAN, and about the importance of maintaining focus on the Doha Round of the World Trade Organisation.