TRADE - MSC NewsWire

China Landing Pads open to New Zealand Business

The distance between China and New Zealand has just became a lot closer today with the announcement of five new business landing pads now available for Kiwi businesses in China. Five leading business innovation hubs in Shanghai, Chengdu and Chongqing have fostered a relationship with New Zealand based business FunderTech to open their doors to foreign businesses. The Chinese Local Government are supporting the initiative by providing shared workspaces while FunderTech will be providing a wrap-around support service for kiwi businesses to accelerate grow and investment opportunities. The deal provides flexible terms for up to 40 foreign businesses to establish…

The Art of the Counter Trade Deal Gave New Zealand its only home-grown vehicle the Trekka

Forgotten deal relied on common sense instead of currency The advent of New Zealand’s only branded home-grown vehicle the Trekka 50 years ago was the result of a counter trade, a barter, that even today is still staggering in its simplicity. Indeed, the sheer scope of the barter even today is still unrecognised just because it was so straightforward. New Zealand had a surplus of wool. Czechoslovakia’s Skoda Works had a surplus of vehicles. Therein lay the deal. Until this moment it has remained a secret. We will now reveal how it worked out in practice. The organisation to see…

Solomon Islands exporters learn to trade with New Zealand

THE Pacific Islands Trade & Investment (PTI) agency successfully met with exporters in Honiara in a bid to open up the New Zealand market to Solomon Islanders. Twenty attendants from 15 export companies went through a day-long programme with PT&I that is spearheaded by the PT&I (NZ) Auckland branch with support from the Solomon Islands Chamber of Commerce & Industry (SICCI). Ian Furlong, the trade development manager of PT&I (NZ) described the training a big success and one that has attracted very keen interest compared with the programme in other Pacific countries. It is the first time for PT&I to…

New Zealand willing to set up joint trade committee with Iran

Tehran, Dec 4, IRNA – New Zealand Trade Minister Todd McClay said on Sunday that Wellington government is willing to draw up a roadmap for economic cooperation with Iran and set up a joint committee to promote trade ties.He made the proposal in a meeting with Iran's Minister of Industry, Mines and Trade Mohammad Reza Nematzadeh in Tehran. He called for cooperation on research, development and innovation. Stressing the need for compiling a roadmap for strengthening industrial and trade relations, he said that New Zealand banking and insurance experts are currently on a visit to Iran to help resolve problems…

Vietnam, New Zealand look to stronger economic ties

Deputy Prime Minister and Foreign Minister Pham Binh Minh suggested Vietnam and New Zealand strengthen their economic and trade ties in order to reach the bilateral trade target of US$1.7 billion in 2020 set by their senior leaders.vietnam new zealand look to stronger economic tiesDeputy PM Pham Binh Minh (left) meets with Speaker of New Zealand’s House of Representatives David Carter (Photo: VNA) The official made the proposal during his meetings with Speaker of New Zealand’s House of Representatives David Carter and Deputy Prime Minister-cum-Finance Minister Bill English in Wellington on December 1. He called on the two countries to…

Lessons from New Zealand for the UK’s post-Brexit Trade Strategy

New Zealand was once Britain’s Farm on the other side of the world. In the 1950s the UK bought almost all of New Zealand’s agricultural exports. Somewhat ironically, it was our decision to enter the European Economic Community (EEC) in the 1973 that forced New Zealand to embrace free trade, opening up to other export markets and developing other products. While the country initially experienced a difficult transition period, New Zealand slowly transformed itself from one of the most regulated and protected economies in the world into one of the most market-orientated. New Zealand’s experience in redesigning its trade strategy…

Todd McClay: Speech to Policy Exchange, London

The New Zealand economy is doing extremely well, because of trade liberalisation, not in spite of it. We are one of the most open economies in the world. Our economic performance is the envy of many countries, certainly our closest neighbour and largest trading partner Australia and many EU member states. GDP growth this year was 3.6 per cent and is forecast to remain between 3 and 3.5 per cent for a number of years to come. Unemployment has fallen to 4.9 per cent with labour force participation rates the highest they have been since records were first kept. Debt-to-GDP…

Business delegation to look at opportunities in Iran.

Trade Minister Todd McClay leads a senior-level business delegation on New Zealand’s first trade mission to Tehran in twelve years, today. Iran and New Zealand have a long-standing trade relationship, dating back to 1975 when New Zealand established an Embassy in Tehran, its first in the Middle East. “There is enormous opportunity for Iran and New Zealand to work together to boost two-way trade,” says Mr McClay. “Iran has traditionally been a very important market for our sheep meat and butter however exports have diminished over a number of years. Since the lifting of UN sanctions there are now renewed…

New Zealand businesses share Brexit views

Trade Minister Todd McClay today published a summary of what New Zealand businesses think about Brexit and the impact they believe it could have on trade with the United Kingdom – New Zealand’s fifth largest trading partner. This follows a public consultation held earlier in the year to better understand the position of New Zealand exporters and investors into the UK market. A total of 18 submissions were received, with businesses sighting a combination of potential opportunities and challenges from the United Kingdom’s decision to separate from the European Union. “Understanding the views of New Zealand businesses is fundamental to…

Non-tariff barriers – a hidden brake on New Zealand economic growth

Excessive red tape, glacial bureaucratic processes and arbitrary new rules in overseas markets are a big – and costly – part of the trade picture for Kiwi exporters of agriculture, food and other products say the NZ International Business Forum (NZIBF) and the APEC Business Advisory Council (ABAC). Two recent studies throw a spotlight on the burden imposed by so-called “non-tariff barriers” (NTBs) faced by New Zealand firms operating in the Asia-Pacific. The first report was prepared by the USC Marshall School of Business and released by ABAC at the recent APEC meetings in Lima and focuses on the impact…

Non-Tariff-Barrier research welcomed

Trade Minister Todd McClay has welcomed the release of two studies which shed new light on the cost and impact of unnecessary red tape and arbitrary trade rules on New Zealand’s exports. “Technically referred to as non-tariff barriers, these unfair obstacles are costing New Zealand businesses US$5.9 billion every year,” says Mr McClay. This is according to a report released this week by the New Zealand Institute of Economic Research. The research was commissioned by the Ministry of Foreign and Trade as a contribution to Asia Pacific Economic Cooperation (APEC) work on this issue. In parallel to this, the APEC…

1st NZ economic delegation to visit Iran next week

TEHRAN, Nov. 29 (MNA) – Iran's Ambassador to New Zealand Jalalelddin Namini Mianeji on Tuesday announced that the two countries enjoy growing economic and political relations. He said New Zealand’s Trade Minister Todd McClay, heading a private sector economic delegation, will travel to Europe and Iran over the next week to take part in a number of trade-related events. His team will hold talks and meetings with Iranian officials on examining ways to develop and deepen bilateral economic relations in post-JCPOA era. "This is the first high-ranking economic delegation of New Zealand that enters Iran during post-sanctions era," Namini underlined.…