New Zealand and Canada have resolved a dairy trade dispute under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), with the deal expected to boost New Zealand’s dairy exports by up to NZ$157m (US$93.8m) annually, according to Xinhua.
The dispute began in 2022 over Canada’s import restrictions, which a dispute panel found breached CPTPP rules. Canada agreed to revise its dairy quota system after New Zealand threatened tariffs in 2024.
The new arrangement improves market access, allows reallocation of unused quotas, and introduces penalties for misuse. New Zealand’s Trade Minister Todd McClay said the outcome reinforces fair trade and welcomed Canada’s cooperation, Xinhua reported.
