Trade News & Articles
Strengthening Economic Ties with Thailand and Indonesia: Minister Todd McClay's Mission
2 days ago | 120 viewsTrade and Investment Minister Todd McClay is traveling to Thailand and Indonesia to enhance New Zealand's economic relationships with these key Southeast Asian economies. The focus is on leveraging the region's economic growth potential, with discussions centered around doubling exports and strengthening trade ties. The Minister will engage with senior officials, promote high-value exports, and seek to expand cooperation in areas such as food security and trade agreements during his visit from 4 to 8 August.
Tags: Todd McClay Trade Investment Minister Thailand Indonesia New Zealand Southeast Asia economy exports food demandNew Zealand Faces Tariff Increase on US Exports: Implications and Response
4 days ago | 226 viewsThe United States will increase tariffs on New Zealand exports from 10% to 15% starting August 7, aligning New Zealand with other US trading partners like Japan and South Korea based on trade deficits. Despite New Zealand's modest surplus of around US$500 million with the US, the overall trade relationship is balanced and complementary. Trade and Investment Minister Todd McClay is urgently seeking to discuss the tariff increase with the US Trade Representative to mitigate its impact on exporters and consumers and maintain the strength of the trading relationship.
Tags: United States New Zealand Todd McClay tariffs trade deficits trade relationship US Trade Representative exporters consumers open tradeNZ-UAE Comprehensive Economic Partnership Agreement Boosts Export Opportunities in $500B Market
2 weeks ago | 192 viewsThe NZ-UAE Comprehensive Economic Partnership Agreement (CEPA) legislation has passed, giving Kiwi exporters access to a $500 billion market that imports 90% of its food, with tariffs on 98.5% of exports immediately removed, rising to 99% in three years. Agriculture, Trade, and Investment Minister Todd McClay highlights the benefits of the agreement in lowering costs, increasing access, and enhancing New Zealand's presence in the Middle East, aiming to capitalize on UAE consumers' demand for safe, fresh products. The CEPA aims to boost two-way trade between New Zealand and the UAE, worth $1.35 billion last year, by reducing red tape, promoting services trade, and supporting investment links, aligning with the government's goal of doubling export value in a decade.
Tags: New Zealand UAE Comprehensive Economic Partnership Agreement CEPA Todd McClay Agriculture Trade Investment Minister exporters tariffsNew Zealand Resolves Dairy Dispute with Canada Under CPTPP, Securing $157m Export Value Annually
2 weeks ago | 331 viewsTrade and Investment Minister Todd McClay announced a resolution to a dairy dispute between Canada and New Zealand under the CPTPP, projecting a $157m annual export value increase for New Zealand dairy exporters. New Zealand initiated dispute settlement proceedings due to limited dairy market access in Canada, leading to a favorable ruling and subsequent agreement for improved access through quota adjustments and penalties for misuse. McClay emphasized the importance of upholding CPTPP obligations, praised Canada for constructive engagement, and highlighted the agreement's reinforcement of the rules-based trading system.
Tags: Todd McClay Canada New Zealand dairy dispute CPTPP trade investment exporters agreement quotasBoosting Trade: New Zealand and Malaysia Strengthen Halal Meat Partnership
2 weeks ago | 344 viewsNew Zealand and Malaysia aim to enhance trade in high-quality halal meat products, with Malaysia being a key market for New Zealand's premium halal meat exports. Malaysia is facilitating approvals for New Zealand halal meat premises to gain access to its market, potentially leading to significant growth in exports and benefiting Kiwi farmers and exporters. Both countries are collaborating to streamline export requirements for New Zealand halal meat, emphasizing the importance of compliance with halal standards and strengthening their relationship in halal processing and assurance systems.
Tags: New Zealand Malaysia Andrew Hoggard Dato’ Seri Dr. Ahmad Zahid bin Haji Hamidi Halal meat Trade Export Collaboration Market Compliance