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.
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David Seymour, Associate Minister of Finance, expressed optimism about the uptick in foreign investment applications following reforms aimed at expediting the overseas investment process in New Zealand. As part of these reforms, a new directive was issued to Land Information New Zealand (LINZ), mandating that 80% of consent applications be processed in half the statutory timeframe.
This initiative has already shown results, with a noticeable increase in investment applications and quicker decision times, underscoring the government’s strategy to make New Zealand a more attractive investment destination.