Dear John --
It is great to see the outcome of trade negotiations that will open up significant opportunities for New Zealand’s exporters between New Zealand and the six-nation Gulf Cooperation Council (GCC) countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE .
The conclusion of the negotiations by the Minister for Trade and Agriculture Todd McClay delivers a high-quality trade deal that has been a long-anticipated one for New Zealand.
The ground-breaking deal will be worth over $3billion annually to New Zealand as it delivers duty free access to GCC countries for 99 per cent of New Zealand’s exports over 10 years. When combined with our recently concluded NZ- United Arab Emirates Comprehensive Economic Partnership Agreement (NZ-UAE CEPA), 51 per cent of our exports to the region will be tariff-free from day one.
The GCC deal includes $1.8 billion of dairy, $260 million of red meat that includes sheep meats, $72 million of horticulture and $70 million of travel and tourism services.
New Zealand’s primary sector exporters will have access to streamlined customs processes, reduced trade barriers, and commitment to a level playing field for Kiwi services businesses entering the market.
There will be commitment to the Convention eliminating discrimination of all types against women, to meeting provisions on intellectual property and labour standards, sustainability and Treaty of Waitangi obligations. The total value of the trade will be $3.06 billion of which New Zealand’s exports will be $2.61 billion and imports will be worth $448.11 million.
The Minister, Todd McClay said that concluding the trade deal is an important milestone in the Government’s efforts to grow our international connections and double the value of our exports within 10 years.
Further recognition of New Zealand’s international status and obligations comes with the announcement that from 2 December 2024 there will be new immigration settings that will make New Zealand a more attractive place for highly skilled migrants to bring their families to and settle.
The Government is returning open work rights to partners of higher-skilled migrants to attract and retain the workers and skills we need.
From 2 December, open work rights will be available to partners of Accredited Employer Work Visa (AEWV) holders working in higher-skilled roles who earn at least 80 percent of the median wage.
The same rights will be available for partners of AEWV holders working in lower-skilled roles who are on a pathway to residence.
Supporting Productivity and economic development
As the Minister of Science Technology and Innovation and for Digitising Government, I am leading the work for our Government to join the UK’s Bletchley Declaration on Artificial Intelligence (AI) Safety.
The UK’s Bletchley Declaration is an important international agreement which affirms the potential that AI offers for society and for economies. To achieve this potential, AI must be designed, developed, and deployed responsibly and safely, and used in a manner that is people-focused and can be trusted.
New Zealand has signed the Seoul Ministerial Statement for Advancing AI Safety which, coupled with the Bletchley Declaration and our Cabinet’s confirmed approach to AI being in accordance with the OECD’s AI Principles, solidifies our Government’s focus on the responsible use of AI globally.
Our Government is going to consult publicly on a national AI strategy to encourage greater use of AI to deliver better results for New Zealanders.
I am confident that all the work under way by the Ministry of Business, Innovation and Employment and the Department of Internal Affairs will form a coherent approach to AI in New Zealand. It will deliver greater productivity, innovation and contribute to growing New Zealand’s economy to benefit all New Zealanders.
Dropping Inflation
Inflation figures reported by Stats NZ in mid-October show that the Coalition Government’s strategies to reduce inflationary pressures with disciplined public spending and by reducing red tape, are having a positive effect on the New Zealand economy.
Inflation was down in the year to June by 3.3 per cent and is down again by 2.2 per cent in the year to September.
At 2.2 per cent inflation, this is the first time inflation has been back within the Reserve Bank’s target range of 1 to 3 per cent since March 2021.
The falling inflation and interest rates, plus tax relief and FamilyBoost payments, mean families are now better off than they were a year ago. The future is looking more positive for businesses and families and our Coalition Government is focused on continuing these improving economic trends. I agree with our Minister of Finance Nicola Willis that New Zealand is now moving in the right direction.
All the best for you and your families, especially those with students sitting NCEA, tertiary and other exams this month,
Judith
Hon Judith Collins KC MP for Papakura
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NZ National Party - 41 Pipitea St, Wellington 6011, New Zealand
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