6. Question No. 6—Trade and Export GrowthMARJA LUBECK (Labour) to the Minister for Trade and Export GrowthQuestion No. 6—Trade and Export Growth6. MARJA LUBECK (Labour) to the Minister for Trade and Export Growth: How is the Government progressing New Zealand's Trade Recovery Strategy?Hon DAMIEN O'CONNOR (Minister for Trade and Export Growth): Trade is a major priority for this Government. We know that trade grows businesses creates jobs and boosts the economy. Our Trade Recovery Strategy is focused on promoting sustainable and inclusive trade lifting our exporters' capability and performance in key markets strengthening international and regional trade architecture and building resilience against future shocks. In July New Zealand will welcome delegations from 10 Asia-Pacific economies to Auckland to host the annual Comprehensive and Progressive Agreement for Trans-Pacific Partnership—Hon David Parker: CPTPP.Hon DAMIEN O'CONNOR: —CPTPP; thank you Mr Parker for that name—at the commission meeting here in New Zealand. This will be the biggest international meeting we have hosted since the pandemic and an opportunity to build our trade agenda and continue to open doors for Kiwi businesses and the people and the households that they support.Marja Lubeck: What's the importance of CPTPP for our trade strategy?Hon DAMIEN O'CONNOR: CPTPP is the world's leading open plurilateral free-trade agreement (FTA) one of our four FTAs that this Government has secured—thanks to the EU for their commitment. The CPTPP economies represent around $18 trillion in global change and a market of 480 million people. The agreement reflects this Government's commitment to a rules-based trading system with a diversified range of partners and it means that we have closer strategic partnerships and relationships in the region to ensure we have resilience against shocks like supply chain disruptions and geopolitical tensions.Marja Lubeck: How does CPTPP benefit our businesses?Hon DAMIEN O'CONNOR: As I said CPTPP economies are one of our largest trading blocs and our membership means that Kiwi businesses get a better deal when accessing those opportunities. In just the first two years Kiwi businesses have saved over $300 million in tariffs. For example there's an average reduction of $50000 a year in tariffs for each of our squash growers exporting to Japan and major exports like kiwifruit and wines saw all tariffs eliminated immediately. With two-thirds of companies who export to CPTPP markets being small to medium sized enterprises these savings make a significant difference to those businesses and the jobs and families that they support.Marja Lubeck: How does this fit with our other trade agreements?Hon DAMIEN O'CONNOR: More good news: we know that one in four New Zealanders' jobs depends upon trade. This is why Government is committed to diversifying our trade interests and opening as many doors as we can for our exporters. Since 2017 this Government has secured four new free-trade agreements and upgraded three more. Once all these agreements enter into force FTA coverage of goods exports will jump from around 57 percent in 2017 to now 77 percent of our total exports. In fact in just one of those FTAs alone—the UK FTA—it will boost our GDP by up to $1 billion and immediately remove tariffs on 99.5 percent of current trade. That is what the Government is delivering for our exporters.Hon Todd McClay: Is it also part of his Government's Trade Recovery Strategy that a trade deal with India is no longer a priority for New Zealand as announced at a press conference in Auckland by Foreign Affairs Minister Nanaia Mahuta in October last year and did she consult with him about this announcement before making it?Hon DAMIEN O'CONNOR: I can say that building relationships with India is very very important. Can I say that the Minister herself has visited India. I have been there. We'll continue to build the relationships. The reality is that dairy in particular is a particular challenge for our relationship but in all other areas of commerce and trade we continue to expand and grow the relationship with India and I'm sure one day in the near future we will have a free-trade agreement.