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United States and New Zealand Meet Under Trade and Investment Framework Agreement
Washington, D.C. – On Wednesday, November 6, the United States and New Zealand held productive discussions under the Trade and Investment Framework Agreement (TIFA), noting the strong and growing trade cooperation between the two countries.
During the meeting, the United States and New Zealand agreed to enhance their trade and investment relationship and to meet again next year. In addition to discussing enhanced trade ties, the two sides also discussed developments in their respective trade agendas as well as mutual issues of concern related to digital trade.
The meeting was led by Deputy U.S. Trade Representative Jeffrey Gerrish for the United States and Deputy Secretary Trade and Economic Affairs Vangelis Vitalis for New Zealand.
Two-way goods trade between the United States and New Zealand totaled $8.2 billion in 2018, with U.S. goods exports to New Zealand totaling $4.1 billion and imports totaling $4.2 billion. The United States had a $127 million goods trade deficit with New Zealand in 2018. U.S. services exports to New Zealand totaled $2.9 billion in 2018, while services imports from New Zealand amounted to $2.7 billion. The United States had a $181 million services trade surplus with New Zealand in 2018.