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USA Losing Dominance In World Trade - Wellington Businessman

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, Oct 8 NZPA - The United States is losing dominance in international trade and must work with New Zealand to "maintain control", Wellington Chamber of Commerce chief executive Charles Finny says.

Mr Finny was in Washington DC to attend the US New Zealand Partnership Forum Meeting.

He told the meeting the agenda in the Asia Pacific region could be set by others if "we are not careful".

The Asia Pacific and Middle East have become "relatively more important" and North America and Europe less so, he said.

"We have a great opportunity to maintain control of the global agenda and trading architecture.

"My view is that what we are going to do in the next few years in the Asia Pacific could well, if done properly, have just as big an impact on the global system."

China kept growing and "most importantly" kept importing, Mr Finny said.

Trade with China, India and Australia had helped lessen the economic impact of the recession in New Zealand, he said.

The forum opened yesterday and finishes tomorrow.

Foreign Affairs Minister Murray McCully and Trade Minister Tim Groser are attending, as are several senior officials from President Barack Obama's administration and business leaders from both countries.

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