The Ministry of Foreign Affairs and Trade called for submissions on the Report of the Trade for All Advisory Board.
Key points from our submission include the following:
- We consider either the United Nation's Sustainable Development Goals (SDGs) or the Treasury's Living Standards Framework as preferable alternatives to a 'triple bottom line' approach, as these alternatives provide a more appropriate range of multi-capital objectives for incorporation in trade policy.
- We recommend that time is spent determining the most appropriate criteria in the context of New Zealand's policy environment, bearing in mind the criteria used overseas, for developing a simple and aligned approach. For completeness, this includes reviews of the existing investment, arbitration and taxation regimes, as well as efforts being made in social and environmental frameworks.
- Regardless of the objectives determined, we agree that the objectives should themselves be subject to a wider consideration of obligations under Te Tiriti o Waitangi.
- We encourage the Government to work with businesses in each sector to determine how best to meet the interests of businesses both in the short and long terms. Given the pace of technological change, we recommend the Government consider how this change influences education and training, as well as cybersecurity infrastructure.