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.
Prime Minister John Key has announced that Budget 2014 would contain funding of $69 million over the next four years (including $14 million of reprioritised funding) to help New Zealand Trade and Enterprise assist more exporters to succeed internationally.
"As a small country at the bottom of the world New Zealand's economic future lies in the strength of our connections to international markets to sell our goods and services," Economic Development Minister Steven Joyce says.
"China, South America, the Middle East and the ASEAN region provide strong opportunities for New Zealand's economic future. Lifting our trade with these regions will help create higher paying jobs for Kiwis and their families."
Seven new NZTE positions are being added in China (on top of the 62 already there); three in South America (one each in Brazil, Chile and Colombia), two in the Middle East (Riyadh and Abu Dhabi); and one in Papua New Guinea. A new trade commissioner was appointed to Indonesia last year alongside increased representation for Education New Zealand and Tourism New Zealand.
"As well as expanding its international network in areas of greatest demand, the funding will enable the agency to deal in a more intensive way with more companies," Joyce says.
"NZTE works with 3500 companies, focusing intensively on around 500 of those. But the agency has found there are an increasing number of firms wanting this level of service as they seek to break into or expand in international markets.
"Therefore, the budget increase will allow NZTE to lift the number of companies it works with intensively from 500 to 700, over a two-year period. This will ensure more New Zealand firms are helped to break into new markets and expand in existing markets."
Trade Minister Tim Groser says the ogoing investment in NZTE's high impact programmes in sectors such as health, wine, agribusiness, ICT, food and beverage, marine, and aviation. NZTE assists firms within these sectors to work closer together to ensure New Zealand competes more effectively in these international markets.
