APEC NEWS RELEASE: Issued by The APEC Business Advisory Council (ABAC) Ha Long, 29 July 2022 – Asia-Pacific business leaders in the APEC Business...
Welcome to Trade Works, the communications platform for the New Zealand International Business Forum (NZIBF), and the New Zealand Chapter of the APEC Business Advisory Council (ABAC).
Here you will find information about trade and investment and why these are important for New Zealand. You can find out more about NZIBF, our members, governance and projects and what we are saying about current issues. You can also read up about the work of ABAC and its New Zealand members.
Why is trade important?
Trade is the life blood of our economy, in normal times and times of crisis. Trade, both exports and imports, gives consumers more choice and a broader range of goods and services to choose from.
Freer trade, by which we mean unhindered by unnecessary trade barriers, has helped make possible the lifestyles we have become accustomed to. It has helped diversify and deepen our economy.
But more than this, the links we develop through trade and investment with other economies support people to people connections. They give us a richer and more diverse society.
What about jobs?
Put simply, more trade means more jobs. We can’t prosper by selling to ourselves, we can’t eat all we produce and we can’t produce all we need. Over 600,000 jobs in New Zealand are dependent either directly or indirectly on trade.
How else can freer trade help us?
“Free trade” doesn’t mean completely unregulated trade. Trade needs effective rules like any other area of activity. Free Trade agreements (FTAs) set fairer rules for the easier flow of goods and services, including in areas like trade and the environment and trade and labour. They also deal with the flow of capital. Companies need capital to grow.
Export income, capital inflows through foreign direct investment and the remittance of dividends from New Zealand’s offshore investments – these are what plug the gap in domestic spending and government deficits. They create jobs, they help us pay for our hospitals, our world class education and to build better infrastructure.
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Asia-Pacific Business Leaders to APEC Leaders: Speed up economic recovery and regain growth momentum
APEC NEWS RELEASE: Issued by The APEC Business Advisory Council (ABAC) Ha Long, 29 July 2022 – Asia-Pacific business leaders in the APEC Business Advisory Council (ABAC), meeting this week in Ha Long, Viet Nam, expressed deep concern about the unprecedented crises...
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It’s fair enough to claim that this FTA was the best deal that could be obtained in the circumstances and that continuing negotiations might have led to a worse or even no outcome.
Exporters like Fonterra will need to pay attention to risk management and to make sure they can benefit from options opened up by new free trade agreements including with the UK and hopefully (fingers crossed here) also the EU.
The EU will enjoy better conditions for investment, including a higher investment screening threshold similar to other FTA partners and better access to government procurement.
As negotiations accelerate to conclude an ambitious free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), representing a cross section of major exporters, urges the Government and its negotiators to hold out for a commercially meaningful deal which expands market access for all exports and does not disadvantage or penalise any one sector.
The NZ International Business Forum (NZIBF) welcomes the outcome of the World Trade Organization (WTO) 12th Ministerial Council meeting in Geneva and congratulates Trade Minister O’Connor and officials.
The pandemic is far from over, there is war in Europe (who would have thought we would be using that phrase in the 21st century), global markets are disrupted by supply chain bottlenecks and inflation is taking its toll on the global economy.