By Damien O'Connor
The first half of 2022 has been a busy time. As Minister for Trade and Export Growth, I’ve had a number of overseas visits, including recent trips to Japan, the US, and Singapore with the Prime Minister and business delegation to promote New Zealand exports.
While these trips have made it harder for me to spend as much time as I would like in our electorate, I’m proud of the work we are doing as a Government on trade to make a very real difference for New Zealand, in particular for the economy of West Coast-Tasman.
Earlier this year we concluded a historic Free Trade Agreement (FTA) with the United Kingdom, and an upgrade of our FTA with China.
Our FTA with the UK will eliminate all tariffs on New Zealand exports, with duties removed on 99.5 percent of our current trade from entry into force, which is expected by the end of 2022. This could boost New Zealand’s GDP by up to an estimated $1 billion, which will benefit all New Zealanders.
Most recently we announced that New Zealand will join negotiations on the United States-led Indo-Pacific Economic Framework, which includes many of our closest partners in the Indo-Pacific region. And I am travelling again this month to Europe, where we are getting closer toward concluding an historic trade agreement with the European Union, a market worth over NZD$23 trillion.
In addition to these outcomes, I continue to progress work to make our farmers and growers not only the best in the world, but the best for the world.
Agriculture is a crucial driver of the economies in our electorate, worth over NZ$250 million annually on the West Coast and over NZ$300 million in the Tasman/Nelson region. So much of what we produce, whether it is milk, fruit or wine, is sold in global markets.
The news for our farmers and growers is positive, with the most recent forecast I announced as Minister of Agriculture showing that New Zealand’s total food and fibre exports will hit more than NZ$50 billion for the first time this year. This is money that will flow back to our farmers and growers, and from there into our regions.
All this work is to progress our 2020 election manifesto to deliver economic security for New Zealanders following one of the most challenging periods we’ve faced as a nation.
Global disruptions and uncertainty have impacted us all, both directly and indirectly. The war in Ukraine is front of mind as we watch the tragedy unfold from our shores, and see the flow-on effect of costs increasing on many of our day to day goods including fuel and food.
I remain optimistic that we’ll pull through as New Zealand has done before in hard times, and we take advantage of the opportunities on the horizon.
I am looking forward to seeing you in the electorate in the near future to hear the opportunities and challenges facing you, and continue to work hard for the electorate, and for New Zealanders.
