New Zealand, Canada Reach Resolution to Dairy Trade Conflict
(MENAFN) New Zealand and Canada have reached a resolution to a long-running dairy trade conflict under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
This settlement over dairy market access is projected to increase New Zealand’s dairy export revenue by as much as 157 million NZ dollars (93.8 million U.S. dollars) each year, announced New Zealand Trade and Investment Minister Todd McClay on Friday.
The dispute originated in 2022 when New Zealand initiated formal proceedings against Canada, accusing it of violating CPTPP rules by restricting dairy imports.
Although a dispute panel sided with New Zealand, Canada initially failed to implement the mandated changes. Only after New Zealand threatened tariff measures in 2024 did Canada move to comply, the New Zealand government reported.
The updated agreement requires Canada to reform its dairy quota system specifically for New Zealand, guaranteeing quicker market entry, reallocating unused quotas, and introducing penalties for quota misuse, according to a statement from the New Zealand government.
McClay commented that the deal guaranteed improved access for New Zealand exporters, reinforced the importance of rules-based trade, and commended Canada’s cooperative attitude.
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