Submission to MPI on Modernising Our Export Assurances Systems: Legislative Options

Export New Zealand (ExportNZ) and the New Zealand International Business Forum (NZIBF) welcome the opportunity to comment on the Ministry for Primary Industries’ (MPI) Modernising Our Export Assurance Systems: Legislative Options Consultation Document.

read more

TradeWindow: Digital trade provides hope through challenging times

by | Jul 29, 2022 | Trade In The News

It won’t come as a surprise to many people to hear that we remain in a very challenging situation when it comes to global business. Our exporters are operating in an environment that is difficult to navigate due to continuing uncertainties – the seemingly endless pandemic and the war in Ukraine are causing all manner of increasing geopolitical tensions, energy shortages and food insecurity around the world. 

Because of ongoing supply chain disruptions, we are continuing to experience expensive shipping costs, delays at ports and import shortages of certain materials and goods. When you add global inflation to the mix, it’s no wonder that havoc is being wreaked across our global markets. 

This perfect storm has been on the horizon for a number of years, brought somewhat forward by the Covid-19 pandemic. And although trade has still performed strongly for New Zealand over last few years, volumes are now starting to dip due to labour shortages – despite values holding up reasonably well given strong commodity prices. 

The good news is that it’s not 2020, which is to say we’re not back at square one like we were at the beginning of the pandemic. We’ve learned a lot since then, with governments realising they must take effective action to address some of the lingering economic problems. As a result, we are likely to see better policies flowing through and fewer knee-jerk or even protectionist reactions that make things worse. Despite the well-evidenced supply chain disruptions, we are also seeing proof that exporters with strong relationships can continue to do business effectively. 

While we haven’t yet been able to break through protectionism in some overseas dairy and meat markets, as the recently negotiated NZ EU free trade agreement shows, other FTAs in both New Zealand and Australia are beginning to open up new and exciting markets, while also signalling significant investment into new arrangements to provide better frameworks for digital trade. New Zealand is pursuing this through the Digital Economy Partnership Agreement (DEPA), which is attracting interest around the region, and Australia through new and ground-breaking agreements it is forging with Singapore and others.

At their best FTAs can open previously closed markets and keep them open, while putting in place effective rules which allow trade to flow freely and minimise compliance costs, outcomes which are of vital interest to the Australasian region as a whole, but a lot depends on implementation.

One of the key elements of the digital economy, which will have the greatest impact on trade, is the implementation of end-to-end secure and trusted paperless trade. While universal adoption of this is still far off, a start has been made.  Reducing the vast amount of paper documents is not only good for the environment, it can reduce costs and assist in moving goods more quickly through supply chains.

To have our world economies work together in this way will require regulatory and legislative changes being made first to our own systems. To date this has been somewhat disjointed and further implementation is needed to make it work seamlessly, but we are getting there. 

There is hope on the horizon amidst what has turned out to be an immensely challenging time for players in the import, export, and logistics industries. If we can move the agenda for digitalisation forward at pace, we may be able to cushion industries from future global supply chain shocks similar to those that have been experienced in recent times. 

This post was originally published by TradeWindow, and written by Stephen Jacobi – Managing Director, Jacobi Consulting Limited and Executive Director, NZ International Business Forum Inc.

REGISTER WITH TRADE WORKS

Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.

 

Remove

 

Latest News

Submission to MFAT for CPTPP Review

30 September 2022 Phil Mellor Economic Division, Ministry of Foreign Affairs and Trade, Wellington (By email) Dear Phil, Thank you for your email of 1 September, seeking our comments on the three year review of the Comprehensive and Progressive Agreement for Trans...

WHAT’S IN A NAME?

The now widespread use of the term “Indo Pacific” to describe the region to which New Zealand belongs brings a risk of geographical confusion. When did the “Asia Pacific” become the Indo Pacific?   For thirty years or more New Zealand has sought to enhance...

NZ Herald: Turbulence in global trade

Amidst the political topsy turvy of recent weeks came the news that the Government has refreshed its Trade Recovery Strategy.  That’s good news because, for exporters and the global economy as a whole, it’s tough out there. The pandemic is by no means over, there...

 Address to World Affairs Forum, 22 August 2022

ADDRESS TO THE WORLD AFFAIRS FORUM AUCKLAND, 22 AUGUST 2022 STEPHEN JACOBI EXECUTIVE DIRECTOR NZ INTERNATIONAL BUSINESS FORUM TURBULENCE IN GLOBAL TRADE Thanks to Greg Thwaite for inviting me to speak to you this evening. It’s good to be back in the habit of meeting...

Trade and Climate Change: State of Play

TRADE AND CLIMATE CHANGE: STATE OF PLAY. A discussion paper prepared for the NZIBF by Adrian Macey, June 2022. Download here. Update: NZ-EU FTA The NZ-EU FTA has been finalised.  Article X.6 of the  trade and sustainable development chapter is on trade and...

THE NZ/EU FTA IS LIKE THE CURATE’S EGG

In which we like the good parts of the NZ EU FTA…. Who remembers the curate’s egg?  It’s when the nervous Curate, asked by the Bishop, if everything is ok with his boiled egg, replies “It’s good in parts, my Lord”.  So too the recently concluded NZ/EU FTA, which has...