July 27, 2006

Breakdown of WTO talks sends repercussions through New Zealand

The New Zealand Seafood Industry Council shares the Government¡¯s disappointment at the breakdown of the WTO Doha Development Round of trade negotiations, New Zealand Seafood Industry Council Chief Executive Owen Symmans said.

More than 90 percent of New Zealand's seafood worth NZ$1.3 billion (US$808 million) annually is exported, Symmans said.

Trade barriers cost the industry at least NZ$100 million (US$62 million) annually, he said, adding that the trade negotiations thus had considerable effect on New Zealand's seafood industry.

Symmans said that besides conventional trade barriers of tariffs and non-tariff measures, such as quotas, massive subsidisation of fishing industries in the northern hemisphere is distorting trade and resulting in unsustainable fishing. 

The way aquaculture is developing internationally, with the assistance of subsidies, is raising concerns in, he said.

The breakdown in talks, which could mean resumption would only be possible months, if not years later, is a setback as that meant New Zealand's competitors would continue to have trade-distorting subsidies which may one day lead to the collapse of the global seafood industry, Symmans said.