[asia-apec 1553] NZ: Cullen hints at US trade pact

[APEC Monitoring Group]

The Dominion, Wellington, 9/9/00

Cullen hints at US trade pact

Singapore

Finance Minister Michael Cullen expressed hope yesterday that the free trade
pact between Singapore and New Zealand would be a catalyst for similar trade
links with the United States.

"Both parties see that CEP (Closer Economic Partnership) could be a catalyst
for similar agreements with other Asean economies and eventually with key
Apec economies including the United States," Dr Cullen told a New Zealand -
Singapore Business Council meeting in Singapore yesterday.

CEP also held implications for the mooted P5 trade agreement, linking New
Zealand, Australia, Singapore, Chile and the United States.

Dr Cullen does not expect any movement on the five-way trade pact before the
US presidential election.

But he said he would hold talks with US Treasury Secretary Lawrence Summers
about it on the sidelines of the Asia Pacific Economic Cooperation.

Meanwhile, a New Zealand briefing paper said it was hoped the New Zealand
Singapore free trade agreement would accelerate free trade liberalisation
within the 21-member Apec forum, and push the World Trade Organisation
forward in global free trade.

Dr Cullen said regional and sub-regional agreements were not counter to
broader agreements that might emerge at WTO level.

Progress was being made behind the scenes for a new round of trade
liberalisation talks despite the WTO failing to fix and agenda after the
collapse of a meeting in Seattle, Washington, last December, Dr Cullen
said. - AFP