Ministers to Sign Indo-Pacific Economic Framework Agreements in Singapore

Minister McClay will attend the full IPEF Ministerial meeting, engaging in discussions on a region-wide trade agreement.

Trade Minister Todd McClay and Climate Change Minister Simon Watts will travel to Singapore tomorrow to sign three Indo-Pacific Economic Framework (IPEF) agreements.

The IPEF’s 14 partners, representing 40% of global GDP and accounting for 50% of New Zealand’s exports, include Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, South Korea, Malaysia, The Philippines, Singapore, Thailand, The United States, and Vietnam.

Minister McClay will attend the full IPEF Ministerial meeting, engaging in discussions on a region-wide trade agreement. He will also participate in the formal signing of the overarching IPEF Agreement and the Fair Economy Agreement, which focus on anti-corruption efforts, labour standards, and increased international tax cooperation to create a secure and transparent investment climate in the Indo-Pacific region.

“The third IPEF pillar focuses on increasing trade efficiency. The negotiation of this pillar presents further opportunities for New Zealand to work with partners to reduce Non-Tariff Barriers (NTBs) and drive greater certainty for exporters. Working with IPEF countries to increase investment flows and trade will help New Zealand meet the aspirational target of doubling exports by value in 10 years,” said Mr. McClay.

During the IPEF meeting, Minister McClay will also hold bilateral discussions with Ministers from Australia, Canada, Fiji, India, Indonesia, Japan, Singapore, and The United States.

Ministers Lead Trade and Investment Forum

Minister Watts will participate in a Clean Economies Investors forum, including a signing ceremony for the Clean Economy Agreement. This agreement aims to increase cooperation on climate goals by mobilizing investment in technologies and solutions for energy, industry, and transport. He will be accompanied by a select group of New Zealand clean tech companies invited to pitch to the region’s top investors at the inaugural Clean Economy Investor Forum.

“The IPEF agreements and the investor forum reflect a growing consensus that technology, trade, and investment flows need to feature explicitly in a concerted regional response to climate change,” Mr. Watts said. “Workstreams on hydrogen and sustainable aviation fuel are among those already operating under the Clean Economy Agreement that have a lot to offer New Zealand.”

These initiatives underscore New Zealand’s commitment to strengthening economic and climate-related partnerships within the Indo-Pacific region.