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.