29 June 2010

Seminar by Mr. Layne, Secretary (Economic) from the US Embassy

By Tadashi Iwami (edited by Dana Taylor), Photos by Emu Izaki

On the 23rd of June 2010 at IPC, the New Zealand Institute of International Affairs Palmerston North Branch hosted a seminar presented by Mr. Michael Layne, 1st Secretary (Economic) from the United States Embassy in Wellington. Mr. Layne talked about the United States economic relationships with the Asia-Pacific region. In particular, Mr. Layne emphasised that, in the 21st century, it is crucial for the United States to establish, maintain, and reinforce the so-called Trans-Pacific Partnership (TPP) amongst countries around the Pacific Ocean. Amongst them, China, India, Indonesia and other Southeast Asian countries, as well as New Zealand, Australia and Japan, are the key players for building this partnership through their economic ties. He also reported that statements and speeches from President Barack Obama and Secretary of State Hillary Clinton have clearly supported the importance of the TPP.

In terms of the United States-New Zealand economic prospects, Mr. Layne introduced two key dimensions. First, it is vital for the United States and New Zealand to encourage further trading relationships between the small and medium enterprises (SMEs) of both countries, as SMEs are the foundation of their respective economies alongside multinational companies, such as Coca Cola and Microsoft. Second, trading knowledge-based industries and technologies will also be the centre of a stronger economic partnership between the United States and New Zealand while they continue their conventional commodity trading. Mr. Layne personally commented that technology and ‘know how’ exchange in the dairy industry would bring mutual benefits to both economies.

Mr. Layne’s speech on the economic partnership in the trans-Pacific region was instructive to the extent that it was an invaluable and first-hand analysis from a diplomat who is deeply involved in the real deals of international trade. Indeed, there now seems to be increasing potential for individual New Zealanders, who own small and medium businesses, to expand their businesses opportunities, thereby securing them larger markets across the Pacific Ocean.

Mr.Layne, 1st Secretary (Economic) from the US Embassy in Wellington	Intrigued audience

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