Local exporters can take heart that trade is getting back on track following a meeting of key trade partners in Geneva.
Agricultural trade is an area needing discussion, NZIBF executive director Stephen Jacobi says. Photo: RNZ
NZ International Business Forum (NZIBF) executive director Stephen Jacobi said plenty of progress was made at the World Trade Organisation's (WTO) latest council meeting.
The organisation has been stalled over the past couple of years after former US President Donald Trump blocked the appointment of appellate judges needed to adjudicate trade disputes
Jacobi said the WTO was getting back to business, although he conceded outcomes for New Zealand farmers were less positive.
"The WTO has often met and not been able to make any decisions at all, so by that standard this was a big step forward," he said.
"People are not just back at the table, they're back at the table and able to make decisions on key matters that affect global trade.
"Now we need to continue working in that forum to get the other things that are badly needed, particularly for agricultural trade."
The WTO was moving in the right direction to unlock export opportunities that would drive the economy forward, Jacobi said.
Previously the pandemic had stifled face to face negotiations, and the rise of protectionism had slowed the progress of the WTO.
In particular, decisions on fish subsidies, pandemic response and the e-commerce moratorium were a step forward, Jacobi said.
"Now we need to continue working in that forum to get the other things that are badly needed, particularly for agricultural trade."
NZIBF was, however, disappointed with the outcome on domestic agricultural subsidies.
"Kicking the can down the road, once again, on agriculture is a blow for farmers and consumers around the world," Jacobi said.
"A renewed work programme is better than nothing, but significant issues remain to be solved once and for all by the WTO membership."