The New Zealand-Japan trading and bilateral investment relationship is to take a step forward toward greater liberalisation with the establishment of a joint officials group, Trade Minister Tim Groser has announced.

“We are keen to see the new officials group advance our bilateral relationship with Japan. The group has a clear mandate to examine trade and investment issues, including from a free trade agreement (FTA) perspective,” Mr Groser said.

“Japan is New Zealand’s third largest export destination and fourth largest trading partner. In the year to June 2008 two-way trade totalled $7.4 billion.

“It is New Zealand’s clear expectation that the officials group process will provide both governments with information they need to decide whether to move to FTA negotiations in the future.

“This development follows the completion of a report by a Joint Working Group which assessed the economic relationship between New Zealand and Japan.

“New Zealand and Japan are also working closely to promote economic integration in the Asia-Pacific region in Apec and the East Asia Summit.”