June 11, 2018 / 6:15 AM / 8 months ago

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

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

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.”

“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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