Trade Minister Todd McClay says New Zealand is working on deepening its trade relationship with Canada, and an announcement on two-way trade is coming soon.
He made the comments during a press conference with visiting Australian Trade Minister Don Farrell, who raised concerns about how global trade had broken into two camps - one that is pro-tariff, the other pro-free and fair trade.
"I think Canada is in the space of free and fair trade, at least as it relates to Australia and New Zealand, and I think we can do a whole lot more," Farrell said.
"We've had a great friendship with Canada."
Farrell said Australia would be sending a trade delegation to the upcoming G20 meeting in Wisconsin at the end of October, adding that Canadian Prime Minister Mark Carney had addressed the Australian Parliament during a recent visit.
McClay said he had been talking trade with his Canadian counterpart, Dominic LeBlanc, with a focus on how the two countries could make more of the opportunities offered by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
For example, Farrell said Canada had been active in South East Asia.
"When we were in Singapore a few weeks ago to discuss with the Singaporeans how we might get continued guarantee of supply of oil and fertilizer, they made the point to me that for the first time they were using Canadian oil to substitute for the oil that had previously come from the Middle East."
He said there were other opportunities for trade with Canada.
"I also think that from Australia's point of view, we can do a lot more in the wine space.
"I think there are opportunities for both Australian and New Zealand companies to access the Canadian liquor market."
McClay said the tit-for-tat escalation of the tariff war between the US and Canada has not been helpful for global trade.
"It creates uncertainty. It drives up prices for consumers. It makes it very, very hard for businesses to plan and to invest.
"We, as a government, and I, as trade minister, have publicly stated that we think the parties should work together and find a way through."
-RNZ
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