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

Sino-Aus trade spat worsens

New Zealand should be carefully watching the unfolding trade war between Australia and China, says trade expert Stephen Jacobi.

A potential bogey for NZ/EU trade deal

The fallout from a golf match out in the west of Ireland could have negative repercussions on the outcome of New Zealand’s Free Trade Agreement (FTA) with the European Union.

Irish golf dinner furore; Hogan quits

A passion for golf has led to the downfall of one of the European Union’s most powerful figures and the man who is heading the FTA trade negotiations with NZ.

Parker dropped the EU FTA ball – Nats

Don’t blame the European Union for its “unacceptable” offer to NZ agriculture in current FTA negotiations, blame David Parker, says National's trade spokesman.

Featured

 

New Feds man keen to build

New Feds board member, William Beetham wants the organisation recognised for its significant contributions to NZ farming and society as a whole.

National

Beef+Lamb pushing for changes

Farmer-good organisation Beef+Lamb NZ (BLNZ) says it will continue to advocate for changes to the new fresh water regulations.

Machinery & Products

JD updates header line-up

John Deere has updated its entire header line-up for combines to include the new HDR Rigid Cutterbar Drapers, RDF HydraFlex…

Hybrid harvesters launched

New Holland has entered the world of hybrid headers, launching a new machine that blends its conventional threshing drum and…

» Latest Print Issues Online

The Hound

Burn!

OPINION: This old mutt had to have a giggle at the dig Feds recently made at the Green Party in the…

Why?

OPINION: Your canine crusader was aghast to read that the prices of zucchini and cucumbers rose more than 30% in…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter