The Government has launched Invest New Zealand, a new initiative aimed at making New Zealand a top destination for foreign direct investment (FDI). This agency will focus on attracting capital to critical infrastructure, fostering innovation, increasing R&D, and enhancing global connections. Incubated within New Zealand Trade and Enterprise (NZTE), it will transition into an autonomous agency to drive international investment and economic growth.
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New Zealand’s Trade and Agriculture Minister Todd McClay signed the Agreement on Trade and Sustainability (ACCTS) with Costa Rica, Iceland, and Switzerland, during APEC in Peru. This landmark agreement eliminates tariffs on sustainable goods, enhances market access for key New Zealand exports, and supports the renewable energy sector while introducing international eco-labelling guidelines.
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In a significant step toward promoting sustainable trade, New Zealand’s Trade and Agriculture Minister Todd McClay signed the Agreement on Trade and Sustainability (ACCTS) with Costa Rica, Iceland, and Switzerland at APEC in Peru. Concluded in July, ACCTS eliminates tariffs on vital New Zealand exports such as 45 wood and wool products—key to the country’s goal of doubling export values within a decade.
The agreement also removes tariffs on energy-efficient and recycled products like LED lamps, insulation materials, and rechargeable batteries, benefiting both exporters and consumers. ACCTS enhances New Zealand’s competitive edge in global markets, supporting domestic jobs and driving economic growth.
Additionally, ACCTS introduces global eco-labelling standards to prevent non-tariff barriers (NTBs) and establishes rules to eliminate fossil fuel subsidies, reinforcing New Zealand’s commitment to renewable energy and sustainable trade. As more nations join ACCTS, its economic and environmental impact will only expand.