Friday, 02 December 2016 13:33

New Zealand businesses share Brexit views

Written by 
Trade Minister Todd McClay has published a summary of what New Zealand businesses think about Brexit. Trade Minister Todd McClay has published a summary of what New Zealand businesses think about Brexit.

Trade Minister Todd McClay has published a summary of what New Zealand businesses think about Brexit and the impact they believe it could have on trade with the United Kingdom – New Zealand’s fifth largest trading partner.

This follows a public consultation held earlier in the year to better understand the position of New Zealand exporters and investors into the UK market.

A total of 18 submissions were received, with businesses sighting a combination of potential opportunities and challenges from the United Kingdom’s decision to separate from the European Union.

“Understanding the views of New Zealand businesses is fundamental to ensuring that the Government focuses on the areas that count for our exporters,” says McClay.

Some businesses thought the UK might move towards a more open market and indicated that this could boost trade. Several companies emphasised the importance of the UK and the EU respecting their WTO commitments.

Conversely, a number of submitters expressed the view that the UK may adopt a move towards greater protectionism.

“Specifically, some businesses saw an opportunity for the UK to streamline standards and compliance, which would impact positively on trade,” says McClay.

“Last month, I established a trade policy dialogue with UK, laying the foundations for a more formal trading relationship with the UK once it is in a position to negotiate independently of the European Union.

“Yesterday, in London, I met with Alok Sharma, the UK Minister for Asia and the Pacific and reiterated New Zealand’s intention to work with the UK to preserve and enhance our important and longstanding trade relationship.

“I have had similar conversations with UK Trade Minister, Liam Fox, and am grateful for the assurances that New Zealand’s trade interests will be protected in this changing environment.

“This latest feedback from New Zealand businesses will help to ensure that we safeguard New Zealand’s interests as this process unfolds,” says McClay.

More like this

Tough trade

OPINION: Known for serious trade negotiations with global politicians, top NZ trade official Vangelis Vitalis also knows how to crack jokes.

Featured

National

Machinery & Products

Calf feeding boost

Advantage Plastics says it is revolutionising calf meal storage and handling, making farm life easier, safer, and more efficient this…

JD's precision essentials

Farmers across New Zealand are renowned for their productivity and efficiency, always wanting to do more with less, while getting…

» Latest Print Issues Online

The Hound

Overbearing?

OPINION: Dust ups between rural media and PR types aren't unheard of but also aren't common, given part of the…

Foot-in-mouth

OPINION: The Hound hears from his canine pals in Southland that an individual's derogatory remarks on social media have left…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter