NZTech Backs New FTA With The UK For Tech Sector Benefit

NZTech says it is excellent to see digital trade and the tech sector playing a substantial part in the new free trade agreement (FTA) with the UK.

UK is to eliminate all tariffs on New Zealand exports, with duties removed on 99.5 percent of current trade from entry into force. The boost to New Zealand’s GDP is estimated between $700 million and $1 billion.

Trade and agriculture minister Damien O’Connor is having meetings with the United Kingdom, Belgium, Switzerland, Saudi Arabia and the United Arab Emirates to advance New Zealand’s trade and economic interests.

Digital trade is especially important not just for New Zealand’s fast growing tech exporters, but for all sectors.

Muller says the ability to enable data flows, having agreements on things such as digital identity, working together to improve digital inclusion are all important for enabling digital trade.

“The new FTA is a recognition that shared rules around digital trade are important not just for our fast growing tech exporters, but for all other sectors as well.”

New Zealand is desperate for top experienced tech staff globally and the new border exemption for 600 tech workers is underway which will boost the New Zealand economy at a time it desperately needs it.

These roles are critical to accelerate access to much needed skills by the fast growing New Zealand tech sector and businesses across the economy, Muller says.

“Our tech sector’s growth is outstripping growth in the wider economy and it is estimated that over the past five years, the tech sector has grown 30 percent faster than the economy overall,” Muller says.

More than 110,000 people were employed in the NZ tech sector last year and new jobs are being created annually.

© Scoop Media