Large trade blocs good for NZ exports

Media release

15 September 2015

Large trade blocs good for NZ exports

New Zealand's refreshed priorities for international trade have been welcomed by ExportNZ.

The Government’s Business Growth Agenda on trade has been updated, with a focus on completing the Trans Pacific Partnership, achieving a free trade agreement with the European Union, and engaging more with emerging economies in Latin and South America.

ExportNZ Executive Director Catherine Beard said exporters welcomed the continued emphasis on TPP.

“The Trans Pacific Partnership is still our major opportunity for external trade. It represents around 40 percent of world GDP, so our businesses stand to benefit from greatly from equal access to those markets.

“New Zealand has more to gain from TPP than most countries, because the highest tariffs always apply to primary products, which make up around two-thirds of our goods exports.”

Catherine Beard said work towards a free trade agreement with the EU and increased trade with Latin and South America were similarly well focused on large markets with significant growth potential.

“In the absence of international progress towards a global multilateral trade agreement, a strong focus on large trade blocs represents New Zealand’s best chances of improving our export earnings.”

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