Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Brexit will require work by trade negotiators

Brexit will require work by trade negotiators but larger trend unchanged

Source: BusinessNZ

--

The new post-Brexit landscape will require more work by New Zealand trade negotiators, says ExportNZ.

Executive Director Catherine Beard says the vote for Britain to leave the EU will have an impact on New Zealand’s trade arrangements, if new trade deals will need to be struck between the EU and Britain.

"For example, New Zealand meat exports to the EU and UK are linked, and those deals may need to be unpicked and renegotiated. Unfortunately, this will create uncertainty.

"Our goods exports to Europe are already highly tariffed and New Zealand exporters are hopeful of changing this with a NZ-EU free trade agreement as soon as possible. Britain’s exit from the EU could slow this process down.

"Services exports to the UK will also be affected. British tourists make up a large proportion of all tourists to New Zealand. If Brexit results in to the pound dropping lower, higher interest rates and lower growth in the UK, we may expect to see fewer UK tourists coming here.

"However the Brexit vote must be seen in the context of the larger moves in exports over recent years - New Zealand is increasingly trading with Asia and Australia rather than the EU and Britain.

"Thirteen percent of our food exports go to Europe while 50 percent go to Asia.

"New Zealand’s larger export trend is from feeding the West to feeding the East, and this is likely to continue."

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Business Research And Development Up 29 Percent

Computer services and machinery manufacturing firms led the way in an almost 30 percent lift in business spending on research and development (R&D) in 2016, Stats NZ said today. Businesses spent $1.6 billion on R&D in 2016, up $356 million (29 percent) from 2014. More>>

ALSO:

China Shopping: NZ-China FTA Upgrade Agreed Among Slew Of New Deals

New Zealand Prime Minister Bill English and China Premier Li Keqiang signed off a series of cooperation deals spanning trade, customs, travel and climate change and confirmed commencement of official talks on an upgrade to the nine-year old free-trade agreement between the two countries. More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news