This paper articulates the rationale behind New Zealand’s decision to join the Indo-Pacific
Economic Framework for Prosperity (IPEF) based on a study of official documents, publicly
available submissions and other printed materials, as well as conversations with a number of
experts. It discusses the challenges that might be faced in the negotiation process and later in the
implementation of the negotiated agreements. The paper argues that the rationale is not to be
found in the conventional market opportunity (or trade creation) arguments. Instead, it is linked
to opportunities to pursue non-trade and non-economic objectives incorporated in the strategies
put in place by New Zealand in recent years.