Category Archives: NZ Government

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.

The Government is simplifying export regulations for New Zealand food products to facilitate trade and innovation. By introducing a two-stage system for export exemptions, the changes will reduce costs, streamline processes, and enhance opportunities for industries like dairy, projected to generate $25.8 billion in export revenue by June 2025.

The modernisation of New Zealand’s trade certification system, which underpins $33 billion in exports, is improving reliability and adaptability for exporters. The wine sector is the first to benefit from the new system, which will streamline processes and enhance compliance with international agreements like the EU-NZ Free Trade Agreement.

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.

Trade Minister Todd McClay announced the NZ EU Free Trade Agreement’s commencement, significantly benefiting Kiwi exporters with $100 million in tariff reductions. The agreement, resulting from over 15 years of efforts, enhances New Zealand’s trade prospects by improving market access for key exports like kiwifruit, wine, and seafood, and aligning with the country’s strategic goals to double export values over the next decade.

Foreign Minister Winston Peters emphasized the strong ties and shared strategic goals between New Zealand and the Nordic countries, particularly Sweden, during his visit. Highlighting the alignment in values and the potential for enhanced cooperation, Peters also acknowledged Sweden’s support for the forthcoming EU-NZ Free Trade Agreement (FTA), underscoring its significance for fostering economic opportunities and strengthening bilateral commercial relationships.

Associate Finance Ministers David Seymour and Chris Bishop have announced a new initiative welcoming overseas investment in New Zealand’s Build To Rent (BTR) housing sector. This move aims to address the nation’s quality rental housing shortage and improve housing market performance by leveraging foreign capital for large-scale developments.

The New Zealand coalition government has announced significant changes to the Building Act aimed at reducing construction costs and improving efficiency. By eliminating red tape around the use of overseas building products, the government seeks to make building in New Zealand more affordable and accessible, addressing the rising costs and supply chain vulnerabilities faced by the construction sector.

The New Zealand European Union Free Trade Agreement (NZ-EUFTA) has officially received Royal Assent, marking a significant milestone in New Zealand’s trade history by ratifying the agreement with the European Union. Set to come into effect from 1 May 2024, this agreement heralds a new era of trade relations, promising substantial economic benefits and tariff savings for New Zealand exporters.

The New Zealand Government is accelerating efforts to activate the New Zealand – European Union Free Trade Agreement (NZ-EU FTA) earlier than anticipated, promising significant economic benefits and tariff savings for Kiwi exporters. This move is expected to facilitate an additional $46 million in tariff savings this season alone, with Kiwifruit and Onion exporters standing to benefit immediately upon the agreement’s early enforcement.

In a strategic move to bolster the housing sector, the coalition Government has announced plans to introduce legislation aimed at streamlining the investment process for overseas investors in Build to Rent (BTR) developments in New Zealand. Housing and Associate Finance Minister Chris Bishop detailed the Cabinet’s decision to amend the Overseas Investment Act 2005, a key component of the Coalition government’s 100-day Plan, designed to foster the growth of BTR housing developments. This initiative represents a significant shift towards accommodating a relatively new, yet promising, rental housing model in New Zealand.

New Zealand is poised on the brink of a significant economic milestone with the First Reading of legislation in Parliament, paving the way for the ratification of the New Zealand – European Union Free Trade Agreement (FTA). This critical step marks the culmination of almost a decade of negotiations and sets the stage for a transformative era in trade relations between New Zealand and the European Union.