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☆ New Zealand pushes back start date for price on farm emissions
▼ + stars: | 2023-08-18 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

New Zealand, home to 5 million people, has about 10 million cattle and 26 million sheep and nearly half its total greenhouse gas emissions come from agriculture, mainly methane. It is one of the first countries to announce it will price agricultural emissions, but the government has faced criticism from parts of the farming community which is concerned about the cost. “It’s important the system to manage and price agricultural emissions is workable, effective, fiscally responsible and set up to last. Scientifically validated carbon sequestration such as tree planting around waterways and indigenous forestry would be recognised in the New Zealand Emissions Trading Scheme, he added. National, the largest opposition party, says it will only look to price farm emissions by 2030.

Persons: Noel Womersley, Canterbury Homekill, Jorge Silva, Damien O’Connor, ” Kate Acland, Lucy Craymer, Stephen Coates Organizations: REUTERS, Rights, Labour, Agriculture, Zealand, National, Thomson Locations: Canterbury, Christchurch , New Zealand, New Zealand, Zealand

China's application, by far the biggest economy, is next in line if they are dealt with in the order they were received, although that is not a given. The free trade agreement has its roots in the U.S.-backed Trans-Pacific Partnership, developed in part to counter China's growing economic dominance. I think that is completely wrong," Tim Groser, a former New Zealand trade minister and chief trade negotiator said. For CPTPP members, China's application is not the only political dilemma. Taiwan is also seeking to join the pact, in a move opposed by China that member trade negotiators remain unsure about.

Persons: Chris Hipkins, Shigeyuki Goto, Damien O’Connor, Trade Kemi, Damien O'Connor, Donald Trump, Henry Gao, couldn't, Tim Groser, CPTPP, Graham Zebedee, Britain's, New Zealand Wang Xiaolong, Hopes, Wang Huiyao, Antony Blinken, Natalie Black, Lucy Craymer, Joe Cash, Jamie Freed Organizations: New Zealand, Economic, New, Trade, Export, State, Business, Malaysian, Beijing, Pacific, New Zealand's Trade, Pacific Partnership, Communist Party, Singapore Management University, Ministry of Foreign Affairs, World Trade Organization, Australia, Center for, Political, Comprehensive Economic, U.S, Asia Pacific, Thomson Locations: British, Trade Kemi Badenoch, Taiwan, AUCKLAND, BEIJING, China, Pacific, Britain, Auckland, Ukraine, Costa Rica, Uruguay, Ecuador, U.S, Japan, Australia, Canada, Beijing, New Zealand, SOEs, Mexico, Center for China, Wellington, Asia

☆ New Zealand, EU ink trade deal that likely goes into effect in 2024
▼ + stars: | 2023-07-09 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, July 10 (Reuters) - New Zealand and the European Union signed a free trade agreement overnight Sunday after negotiations were completed in 2022, with expectations it will come into force in the first half of 2024. New Zealand's Minister for Trade and Export Growth Damien O’Connor said the trade deal will cut costs and support exporters to grow and diversify their trade. The agreement was signed in Brussels by O’Connor and the EU Executive Vice President and Trade Commissioner Valdis Dombrovskis. The statement added it is anticipated that the NZ-EU FTA will enter into force in the first half of 2024, once both parties complete the final required legal steps. ($1 = 1.6108 New Zealand dollars)Reporting by Lucy Craymer; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Damien O’Connor, Cyclone Gabrielle, ”, Valdis Dombrovskis, Lucy Craymer, Lisa Shumaker Organizations: WELLINGTON, European Union, New, Trade, Export, O’Connor, EU, NZ, Zealand, Thomson Locations: New Zealand, Brussels

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