New Zealand & Australia Forge Sustainable Trade Pact for Inclusivity and Growth

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New Zealand and Australia have joined forces to establish a groundbreaking trade declaration to promote sustainable economic growth and inclusivity.

The Sustainable & Inclusive Trade Declaration, signed on 11 August, underscores the commitment of both nations to prioritise environmental and social considerations within their trade partnership.

The declaration, a culmination of collaborative efforts, signifies the acknowledgment of the interconnectedness between economic prosperity and environmental well-being. New Zealand and Australia, known for their robust trade ties, have recognised the imperative to move beyond traditional trade practices that often ignore ecological and social impacts.

One of the key aspects of the declaration is its emphasis on sustainable practices. Both countries have pledged to enhance cooperation in renewable energy, biodiversity conservation, and sustainable agriculture. The order aims to mitigate the negative impacts of trade activities on the planet by promoting the adopting of environmentally friendly technologies and techniques.

Equally important is the commitment to inclusivity. The declaration outlines measures to ensure that trade benefits are equitably distributed among diverse segments of society. This includes supporting marginalised communities, indigenous populations, and small and medium-sized enterprises, thus fostering greater economic resilience and reducing inequalities.

According to New Zealand trade and export growth minister Damien O’Connor, “Today, alongside my counterpart Senator Hon Don Farrell, I have concluded and signed a Declaration that builds on the success of CER and amplifies our commitment to a rules-based international trading system, the advancement of a net-zero transition, and the delivery of sustainable development for our communities.”

Experts in both countries have welcomed the declaration as a significant milestone. The statement also aligns with the United Nations’ Sustainable Development Goals, which both countries are committed to achieving by 2030. By promoting sustainable and inclusive trade, New Zealand and Australia contribute to global efforts to address pressing challenges such as climate change, biodiversity loss, and social inequality.Dr Emily Collins, an environmental economist, praised the move, stating, “This declaration reflects a progressive approach to trade that acknowledges the urgency of environmental protection. By integrating sustainability into their trade partnership, New Zealand and Australia set a commendable example for the international community.”

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