The Government is to boost NZTE’s trade presence in China, South America and the Middle East to help more New Zealand firms break into these growing markets.
In a speech today to the North Harbour Club, Prime Minister John Key announced that Budget 2014 would contain funding of $69 million over the next four years (including $14 million of reprioritised funding) to help New Zealand Trade and Enterprise assist more exporters to succeed 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 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 Budget 2014 is about increasing our international footprint in growth markets and getting the right level of resources in the right places,” Trade Minister Tim Groser says.
Seven 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.
“As well as expanding its international network in areas of greatest demand, the funding will enable the agency to deal in a more intensive way with more companies,” Mr Joyce says.
“NZTE works with 3500 companies, focusing intensively on around 500 of those. But the agency has found there are an increasing number of firms wanting this level of service as they seek to break into or expand in international markets.
“Therefore, the budget increase will allow NZTE to lift the number of companies it works with intensively from 500 to 700, over a two-year period. This will ensure more New Zealand firms are helped to break into new markets and expand in existing markets.”
“The increase in funding will also allow on-going investment in NZTE’s high impact programmes in sectors such as health, wine, agribusiness, ICT, food and beverage, marine, and aviation. NZTE assists firms within these sectors to work closer together to ensure New Zealand competes more effectively in these international markets,” Mr Groser says.
These announcements follow other recent Government Business Growth Agenda initiatives to build our export markets including negotiating and implementing free trade agreements; boosting the profile of our tourism and international education sectors; and developing and launching the New Zealand Story to help Kiwi exporters.
“The role of NZTE is to help New Zealand companies achieve international success. This Government has a given it a significant makeover and it is performing well. The additional $69 million will allow NZTE to connect more Kiwi companies with growing markets delivering stronger long-term economic growth for New Zealand,” Mr Joyce says.