NZ set to talk trade with Mexico, Chile, Colombia, Peru

Trade Minister Todd McClay says the potential for growth in trade with the Latin American bloc is significant.

The alliance, which comprises Colombia, Chile, Mexico and Peru, was formed in April 2011, aimed at improving trade flows and bolstering investment.

New Zealand is giving $1 million in aid to help clear landmines in Colombia, one of the most mine-scarred countries in the world after a half century of war, officials said on Friday.

"A high-quality FTA will open the door for New Zealand companies to do more business with the Pacific Alliance countries and increase the $1.1 billion of two-way trade we now have with them", he said after meeting the presidents of the four nations.

Presided over by Colombian Foreign Minister Ángela María Holguín, the ministerial segment of the XII Summit of the Pacific began today in this city, attended by Foreign Affairs and Trade of ministers of member countries.

New Zealand was a good country for them to negotiate with first up, and they were looking for a high-quality deal.

"Colombia's historic peace agreement has seen about 200 new municipalities become eligible for demining assistance but this requires a substantial increase in resources", Brownlee said. "We can get a deal done quickly that gets better access for New Zealand businesses into these markets".

Mr McClay said it was hoped the trade deal would be completed within a year. Some transportation links had also not been strong.

"We are going to register the creation of a common fund to finance infrastructure, we are going to open the alliance to associate members so that we can establish different relations with interested observers to affiliate in some way with the four countries that have the most dynamic economies in Latin America", he said.