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Norway New Zealand Trade Agreement

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“We hope that WTO members will accede to this agreement in due course and we look forward to cooperation. find productive and constructive ways to harness trade to address the climate challenge. Over the past two decades, several efforts have been made to develop multi-country agreements to reduce tariffs on environmental goods. The latest attempt was the proposed environmental goods agreement, a “plurilateral” negotiation between different WTO members to remove tariffs on a large number of products, which was suspended in 2016. However, so far, environmental services have been relatively little taken into account in major trade negotiations, particularly following the impasse in discussions on this subject in the World Trade Organization (WTO) in its Doha Round a few years ago. Multilateral action remains New Zealand`s priority on these issues โ€” that has not changed. As we continue to advocate for multilateral action, the ACCTS countries are ready to act now. We believe that plurilateral agreements such as ACCTS play an important role as precursors and models of action. The Agreement on Climate Change, Trade and Sustainability (ACCTS) aims to show how trade policy can be used to support climate and environmental goals, with the Heads of State and Government of five countries โ€“ Costa Rica, Fiji, Iceland, New Zealand and Norway โ€“ today launched an initiative that firmly links these issues, with a focus on sustainability.

In contrast, the ACCTS countries have agreed to waive the critical mass requirement, which is a decisive step in regulating trade, demonstrating their commitment to positive environmental outcomes and not just improved export opportunities. In a joint statement, the five nations agreed that “all policy levers are needed to advance the transformation towards low-emission, climate-resilient and sustainable economies. We collectively believe that these levers can and should encompass trade policy, rules and architecture. ยป Beehive press release – New Zealand leads trade agreements as a driver in the fight against climate change and the environment (Link leaves this page) Given that other major trade negotiation efforts at the multilateral and plurilateral levels are at a standstill, we believe the world should welcome this new initiative. If ACCTS members can achieve innovative and useful results at the interface between trade and the environment, this could serve as a pioneering agreement that other WTO members could work on in the future if they are able to meet the required obligations and disciplines, with a potential for global impact that will benefit us all. The five countries participating in the negotiations are all relatively small, with open economies and a high dependence on trade. The initiative is based on the common goal of a global transformation towards low-emission, climate-resilient and sustainable economies. These five countries want to show that trade can be an important instrument to address the serious challenges facing the world. Disciplines aimed at removing fossil fuel subsidies will help eliminate the perverse effects of these environmentally harmful and socially regressive subsidies.

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