Differing benefits for different sectors
New Zealand’s free trade agreement (FTA) with the European Union comes into force on May 1, offering differing benefits for different sectors.
The outcome of the British election is not likely to have any major impact on New Zealand’s negotiations for a free trade agreement, says trade expert Stephen Jacobi.
The bigger issue for NZ is how soon the UK can get out of the EU, says Jacobi, a former diplomat, a policy adviser and executive director of the NZ International Business Forum and the NZ China Council.
“Until they have achieved that they are not really in a position for negotiating with NZ. Certainly a lot of preparatory work can be done but no formal negotiations can start.”
A big question mark also hangs over what British policies will be like after they leave the EU.
“They have a certain set of policies in relation to economic matters as a result of their membership of the EU. But how are they going to change those in the future?
“Until all those things are sorted out it is hard to see how we will be able to negotiate an FTA with them.
“So I don’t think the election result has a bearing on that other than it makes it a little more difficult to negotiate a quick exit from the EU.”
That exit will not be easy to negotiate.
“A weakened mandate for the government does not help but they still will be the government provided they get the support from the Northern Ireland party and they can continue to pass things through parliament. If they have a workable majority it shouldn’t make much difference.”
In any event leaving the EU is extremely complicated.
“I find that difficult to believe. I think our negotiation of an FTA with Britain is a long time in the future.”
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.
Rural trader PGG Wrightson has revised its operating earnings guidance, saying trading conditions have deteriorated since the last market update in February.
It's been a bumper season for maize and other supplements in the eastern Bay of Plenty.
Leading farmers from around New Zealand connected to share environmental stories and inspiration and build relationships at the Dairy Environment Leaders (DEL) national forum in Wellington last month.