WELLINGTON: New Zealand Trade and Investment Minister Todd McClay has highlighted the Middle East conflict's impact on global supply chains at a Future of Investment and Trade (FIT) Partnership meeting.
"We see an opportunity for FIT partners to signal a joint commitment to maintaining open and resilient supply chains, working together to share real-time information and coordinating joint responses when supply chains are disrupted," McClay was quoted as saying in a government statement on Tuesday (March 17).
The meeting, which was convened virtually on Monday night, endorsed a ministerial declaration on strengthening the rules-based trading system.
"Measures like export restrictions and stockpiling on a large-scale basis can unnecessarily worsen the economic impacts," McClay said, noting it was in the mutual interest of FIT partners to keep trade lines open, including via air and sea freight, to ensure the flow of fuel and other essential goods.
The minister described the meeting as an opportunity for New Zealand to discuss the risks of global supply disruption and raise issues like fuel supply chain challenges with other small- and medium trade-dependent countries.
FIT was launched in September 2025 with 16 small- and medium-sized trade-dependent countries. New Zealand will host the next FIT ministerial meeting in Auckland in July 2026. - Xinhua
