NZ-EU FTA enters into force
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
Fonterra is welcoming the Government's move to lift restrictions on trade with Iran, a key butter partner.
This follows the elimination of UN sanctions this month.
The Ministry of Foreign Affairs confirmed it has started the process of updating its regulations and removing the UN sanctions, which it expects to complete next month.
"Iran is a valuable trading partner and a key butter market for Fonterra," says Fonterra's managing director of global ingredients, Kelvin Wickham.
"The removal of the UN sanctions, and our Government's unwinding of restrictions, will only improve the outlook for us in Iran."
With a population of nearly 80 million and long-standing customer relationships in Iran, Fonterra expected continued growth in the market.
"Our customers in Iran are growing, and we're seeing them make significant investments in infrastructure and capacity to meet demand," says Wickham.
"We have skilled people in the region who understand the opportunities and potential of doing business in Iran, and who welcome more normalised trade relations."
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
OPINION: In recent years farmers have been crying foul of unworkable and expensive regulations.
Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.