Potential UAE trade deal would boost red meat exports
The red meat sector is welcoming the start of trade negotiations between New Zealand and the United Arab Emirates (UAE).
The Gulf Cooperation Council — New Zealand free trade agreement will be completed early.
Trade Minister Todd McClay and his Saudi Arabian counterpart, the Minister of Commerce and Investment, have agreed to work towards early completion of the Gulf Cooperation Council (GCC) — New Zealand free trade agreement (FTA).
"This is an extremely pleasing outcome from my mission to Saudi Arabia. We can now see a way forward towards the completion of the FTA," says McClay.
"The next step is for GCC countries to meet and for my officials to get together with the GCC Secretariat, as well as member countries, to finalise agreement."
Two-way goods trade with the GCC region (our sixth largest trading partner) is worth over $3 billion annually, which includes over $1 billion of trade with Saudi Arabia.
New Zealand exports about 5000 tonnes of beef to the Kingdom each year and accommodates around 3000 Saudi students who currently study in New Zealand.
"There is clear enthusiasm about the potential for greater cooperation between our highly complementary economies, especially in education and food security,” says McClay.
McClay's two day visit was to jointly chair the biennial Saudi-New Zealand Joint Ministerial Commission. He also held bilateral meetings with the Deputy Crown Prince and Deputy Prime Minister; the Minister of Finance; the Minister of Commerce and Investment; the Minister of Education; the Minister of Agriculture, Water, and Environment; and the Deputy Minister of Economy and Planning.
In Riyadh McClay opened the foundational meeting of the Saudi Arabia / New Zealand Business Council, which was established in April this year by the New Zealand Middle East Business Council and the Saudi Chambers of Commerce and Industry.
This Business Council provides a regular forum for discussion and promotion of economic, industrial and technological co-operation between New Zealand and Saudi companies.
“Today’s foundation meeting of the Business Council marks an important milestone in New Zealand and Saudi Arabia’s relationship."
McClay visited Riyadh accompanied by 12 New Zealand companies pursuing joint business opportunities in the Gulf.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
The Ministry for Primary Industries (MPI) has informed staff it will cut 391 jobs following a consultation period.
New Zealand farmers are committed to making their businesses more resilient to climate change and are embracing innovation to help them do so.
Atiamuri farmers Paul and Lesley Grey never gave up their dream of owning their own farm – and in 2020, that dream came true.
OPINION: This old mutt well remembers the wailing, whining and gnashing of teeth by former West Coast MP and Labour…
OPINION: Your canine crusader gets a little fed up with the some in media, union hacks, opposition politicians and hard-core…