Trade with South East Asia Expected to Increase
Media Release 18 December, 2000
NZ Trade with South East Asia Expected to Increase
A survey conducted by the ASEAN NZ Combined Business Council shows that a significant majority of NZ companies doing business with South East Asia (SEA) expect their business to increase in 2001.
Some 71% expect their business with SEA to increase in 2001. Reasons specified for the increase include factors within the respondent’s company, ASEAN regional markets being favourable and factors in the New Zealand economy.
The NZ Singapore Closer Economic Partnership agreement was not indicated as a contributing factor to the expected increase in business. A majority of respondents do not expect the agreement to have any effect on their business.
The ASEAN-New Zealand Combined Business Council (ANZCBC) assists New Zealand companies to improve their business with ASEAN partners.
The Government has
promoted the NZ Singapore agreement as an important stage in
the development and promotion of closer trade, economic and
investment linkages to the benefit of both New Zealand and
Singapore. The survey shows that most trading companies
will not be affected. The overwhelming impact will be in
the liberalised services sector in which business is still
largely underdeveloped, says spokesperson for the ANZCBC,
Most traders want practical assistance from the government according to the survey, including help for small and new exporters, waiving charges for the accreditation of documents for export purposes and lowering Trade NZ charges for market surveys.
The survey also asked respondents to identify any barriers to doing business with SEA. The most significant barrier for 45% of the respondents was cultural differences between nations. Other significant barriers noted include issues with taxation, government procedures, registration issues, difficulty in obtaining market information, transportation of goods, and political instability.
The ANZCBC has a broad-based membership of companies, ranging from corporates to small and medium enterprises and including service providers. The ANZCBC plans to conduct similar surveys on a regular basis.
For further information contact:
Dr Anatole Bogatski
ASEAN NZ Combined Business Council
Ph: (09) 309 6100
Mob: 021 670 419