We were pleased to host the Minister for Trade, Hon. Todd McClay at Hudson Gavin Martin recently.

The Minister addressed an audience at an event organised by the New Zealand Middle East Business Council in relation to the newly established free trade agreements with the Gulf Cooperation Council (GCC) and the United Arab Emirates (UAE).

The Minister emphasised the importance of these trade agreements highlighting the potential to enhance trade relations.

Some key highlights from the Minister’s address:

Trade agreements as certainty

The Minister articulated that trade agreements serve as frameworks that provide businesses with certainty in an uncertain global landscape. He noted that these agreements are crucial for fostering a stable trading environment, allowing businesses to plan and invest confidently.

Relational approach to trade

He discussed a shift from traditional transactional negotiations to a more relational approach, emphasising the importance of building mutually respectful relationships in business dealings. This approach has proven effective in the negotiations with both the UAE and GCC, where establishing trust has been key to successful agreements.

Quality of agreements

The Minister described the GCC agreement as one of the highest quality deals New Zealand has negotiated, noting its liberalising nature and positive reception both domestically and internationally. He mentioned that this agreement is expected to facilitate smoother trade relations and open new markets for New Zealand exporters.

Future prospects

Looking ahead, the Minister expressed optimism about the potential for growth in trade with Middle Eastern countries. He encouraged businesses to engage actively in these markets, leveraging the new agreements to expand their operations and explore new opportunities.

We have helped many organisations do business in the Middle East and this has now been made easier for New Zealand businesses with these new free trade agreements.

If you are a New Zealand business looking to do business in the Middle East, feel free to reach out to leverage our vast experience working in the UAE/GCC.