Govt tips almost $100m into trade initiatives

Prime Minister Bill English says the government will be investing close to $100 million in initiatives which will boost New Zealand’s trade strategy.

As part of its updated trade strategy launched this morning, Trade Agenda 2030, the government has set self-declared “ambitious goal” of having free trade agreements that cover 90% of New Zealand’s goods export by 2030.

That’s up 37% on where it is today.

Mr English says the government is investing more than $91 million over four years through this year’s budget to help achieve this.

“A big reason for that is the government’s consistent agenda of economic reform and our collective determination to open up more opportunities for trade with the world.”

The new funding includes $35.3 million to the Ministry of Primary Industries (MPI) to boost the value of primary exports, including through the targeting of non-tariff barriers.

The Ministry of Foreign Affairs and Trade (Mfat) will get $20.3 million to improve market access and maximise the benefits of existing free trade agreements.

Mfat will also get $6.7 million to strengthen New Zealand’s international networks and boost the availability of consular services for Kiwis overseas.

Trade Minister Todd McClay says the funding to help improve access to international markets for New Zealand exporters will help those businesses make the most of New Zealand’s extensive and increasing trade networks.

“We need to encourage more businesses to grow and sell their goods and services by making it easier for them to do so in as many markets as possible.”

Mr McClay has also announced the formation of a Ministerial Advisory Group on trade, which will include representation from iwi, unions and NGOs, as well as industry bodies for primary industry, wood, tourism, education, horticulture, aviation and technology.

He says the aim of the advisory group is to ensure the New Zealand public is better informed on trade issues.

Investment welcomed by business

BusinessNZ chief executive Kirk Hope says the government’s updated trade agenda is “well oriented for achieving more innovation and diversified exports.”

“The agenda aims to increase the number of Kiwi businesses getting into global value chains, exporting digital products and services, and adding value to manufactured products through service offerings," he says.