News Column

Australia,New Zealand : SECRET trade agreement threatens NEW ZEALAND'S job market

June 23, 2014

Among other things the Financial Services Annex of Secret Trade in Services Agreement (TISA) published by Wikileaks includes clauses which mean banks and other finance companies can quickly import overseas IT workers.

That would make life difficult for local contractors.

New Zealand is one of 50 countries involved in secret talks over TISA. If passed the trade agreement will limit governments' ability to regulate and control finance companies. This is a questionable notion given the role of the finance sector in the global financial crisis.

Given the choice, workers from cheaper locations are always going to be the first choice.

It's not clear that the agreement will have as much effect in New Zealand as in Australia. That country's IT sector is trending down.

Tech skills are in such short supply that an influx of overseas workers is unlikely to upset the jobs market.

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Source: TendersInfo (India)

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