U.S. Chamber Calls for New Zealand Free Trade Agreement

WASHINGTON, D.C. — The United States Chamber of Commerce called for a U.S.–New Zealand Free Trade Agreement to strengthen both nations' economic outlook through expanded business and investment opportunities.

"A free trade deal would provide important economic, strategic, and political benefits to both our countries," said U.S. Chamber President and CEO Thomas Donohue, during a luncheon speech by New Zealand Prime Minister Helen Clark. "American companies are eager for greater market access and New Zealand presents an opportunity to grow our exports."

New Zealand is a strong American ally and was one of the first countries to offer the United States assistance in its fight against terrorism, Donohue noted. Both countries are leaders in the efforts to promote global trade liberalization and a more open trading system. Under a free trade agreement, American exports to New Zealand could jump by about 25%, according to a recent study by the Institute for International Economics.

"American businesses are eager to compete in this market," said Donohue. "Wider trade means more opportunities for American businesses, workers and farmers — and it is critical to our continued economic growth."

Exports support 12 million U.S. jobs — one in five manufacturing jobs — and account for almost one-third of real U.S. economic growth over the past decade. One in three acres of U.S. farmland is planted with crops for export and small businesses now account for 30% of all U.S. exports by dollar value.

Prime Minister Clark — who has met already with President Bush — is visiting the United States to show her country's support in the war against terrorism and to promote economic partnerships. Prime Minister Clark spoke to more than 150 business leaders, policymakers and chamber executives at an International Forum Luncheon on a range of issues regarding U.S.–Asia relations and in particular asked for U.S. business support for a free trade agreement with her country.

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.

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