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Trade Minister Todd McClay
OPINION: The dairy industry will be a major beneficiary of a new free trade deal between NZ and the Gulf Co-operation Council (GCC).
The council, comprising some of the world's wealthiest countries - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE - already buy $1.8 billion worth of NZ dairy products. This makes the GCC region our second-largest dairy market after China. New Zealand and GCC trade is worth over $3 billion annually, with New Zealand exporting $2.6 billion in the year to June 2024.
The New Zealand Government - in particular Trade Minister Todd McClay - deserves a pat on the back for this achievement. Previous NZ governments must also be acknowledged for laying the foundation for the trade deal. It delivers on an 18 year-long ambition for New Zealand to bag this high-quality trade deal in the Middle East.
This is the highest quality deal the GCC has done to date and its first with a major agricultural exporter. It delivers duty-free access for 99% of New Zealand's exports over 10 years and when combined with our recently concluded NZ-UAE CEPA, 51% of our exports to the region will be tariff-free from day one.
Dairy processors welcome this deal along with the other recent deal between NZ and the United Arab Emirates (UAE).
Locking in elimination of the already low tariffs on key dairy products into this highly valuable market provides important commercial certainty for dairy exporters, according to the Dairy Companies Association of NZ (DCANZ).
It wants the Government to maintain momentum and ambition to bring down barriers with other negotiating partners, including upgrading existing trade agreements that have not yet secured dairy tariff elimination. This will ensure continuing high quality and high value markets for our world-class dairy products.
A function at Parliament on 7th October brought together central government decision-makers, MPs, industry stakeholders and commercial partners to highlight the need for strategic investment in the future of Fieldays and its home, the Mystery Creek Events Centre campus.
Opening a new $3 million methane research barn in Waikato this month, Agriculture Minister Todd McClay called on the dairy sector to “go as fast as you can and prove the concepts”.
New Zealand’s trade with the European Union has jumped $2 billion since a free trade deal entered into force in May last year.
Agriculture and Forestry Minister, Todd McClay is encouraging farmers, growers, and foresters not to take unnecessary risks, asking that they heed weather warnings today.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
The Ashburton-based Carrfields Group continues to show commitment to future growth and in the agricultural sector with its latest investment, the recently acquired 'Spring Farm' adjacent to State Highway 1, Winslow, just south of Ashburton.
New Zealand First leader and Foreign Affairs Minister Winston Peters has blasted Fonterra farmers shareholders for approving the sale of iconic brands to a French company.
A major feature of the Ashburton A&P Show, to be held on October 31 and November 1, will be the annual trans-Tasman Sheep Dog Trial test match, with the best heading dogs from both sides of the Tasman going head-to-head in two teams of four.
Fewer bobby calves are heading to the works this season, as more dairy farmers recognise the value of rearing calves for beef.
The key to a dairy system that generates high profit with a low emissions intensity is using low footprint feed, says Fonterra program manager on-farm excellence, Louise Cook.
Rural retailer Farmlands has reported a return to profitability, something the co-operative says shows clear progress in the second year of its five-year strategy.
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