More New Zealand meat exporters will be among companies assisted by the Government’s boosting of New Zealand Trade & Enterprise (NZTE)’s trade presence in China, South America and the Middle East to help more New Zealand firms break into these growing markets.
Prime Minister John Key made the announcement in Auckland yesterday that Budget 2014 would contain funding of $69 million over the next four years (including $14 million of reprioritised funding) to help NZTE assist more exporters to success internationally.
“As a small country at the bottom of the world, New Zealand’s economic future lies in the strength of our connections to international markets to sell our goods and services,” Economic Development Minister Steven Joyce says.
“China, South America, the Middle East and the ASEAN region provide strong growth opportunities for New Zealand’s economic future. Lifting our trade with these regions will help create higher paying jobs for Kiwis and their families.”
As part of the Government’s Business Growth Agenda, the new funding for NZTE in the Budget is about increasing New Zealand’s international footprint in growth markets and getting the right level of resources in the right places, according to Trade Minister Tim Groser.
Several new NZTE positions are being added in China (on top of the 62 already there); three in South America (one each in Brazil, Chile and Colombia); two in the Middle East (Riyadh and Abu Dhabi); and one in Papua New Guinea. A new trade commissioner was appointed to Indonesia last year alongside increased representation for Education New Zealand and Tourism New Zealand.
BusinessNZ has welcomed the news with chief executive Phil O’Reilly noting that the additional funding will help more New Zealand companies to export to the regions.
“Companies say breaking into overseas markets is one of the hardest things to do, especially distant markets with different languages and cultures.”
O’Reilly also says that more funding to extend NZTE intensive support, from the current 500 export companies to 700, and to invest in specific sectoral programmes was also welcome.
“Our ability to earn our living through international trade is critical to our success as a nation. This additional investment on our behalf by the Government is well placed,” he says.