June 11, 2018 / 6:14 AM / 4 months ago

New Zealand minister says world must stand up for ruled-based trade system

TOKYO (Reuters) - New Zealand Trade Minister David Parker said on Monday the global community must stand up to defend a rules-based system on trade, adding that “none of us can beat globalization.”

FILE PHOTO: New Zealand’s Minister for Trade and Export Growth David Parker speaks to reporters during a news conference regarding the revised text for the recently agreed Trans-Pacific Partnership (TPP) in Wellington, New Zealand, February 21, 2018. REUTERS/Charlotte Greenfield

“What’s happening in the world worries me. But the world is already developing alternatives like CPTPP,” Parker said in a seminar in Tokyo.

After the United States withdrew from the Trans-Pacific Partnership (TPP) agreement, the remaining 11 countries including Japan and New Zealand renegotiated parts of the TPP.

In March, they signed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), also known as TPP-11.

Reporting by Leika Kihara; Editing by Chang-Ran Kim

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