ASEAN meetingAsia SnapshotAsia Ambassadors meetingAsia Snapshots & Ambassadors summaryAustralia NZ Leadership ForumBrisbane embassy openingCERCluster munitionsGeneral featuresHuman Rights CouncilHuman Rights essay competitionIllegal Fishing activitiesIndia free trade agreementInternational Disability AwardLatin America visitNZ China FTANZ and Brazils relationshipNZs extended seabed claimNew CaledoniaNew consul for MelbournePSI meetingPlaque to NZ World War I soldierSOI and Step ChangeSafetravel featureStockholm embassy openingTrans Pacific SEP backgrounder
Hong Kong continues to be a very important trading partner (our 12 largest export market, 8th largest source of FDI). It has enjoyed several years of strong growth, fed by the Chinese economy, and is the leading financial market in Asia. It is a key and vibrant regional hub.
New Zealand has a strong market presence in the food and beverage sector and draws good numbers of visitors and students to New Zealand. But we want to expand our profile and deepen our economic links in areas such as services (tourism, aviation and education) and broaden them in new areas like information and communication technology, film.
Given Hong Kong’s long standing knowledge of and relationships with the Mainland, Hong Kong also continues to provide an excellent platform both into and out of China. There is continuing scope to tap the large pool of capital and entrepreneurial skills in Hong Kong, partnering them with New Zealand resources and innovation, to develop opportunities in the expanding Chinese market.
There is increasing excitement emerging about India which is beginning to touch New Zealand shores. India's economic success story in recent years is impressive and this is translating into an increasing number of New Zealand companies beginning to look seriously at India. The 'big' question on everyone's mind is - will this growth continue ? There are good reasons to believe that it should. It is appropriate, therefore, that New Zealand now designate India, as it has done, as a 'priority market'. In a number of areas (education and tourism) New Zealand is already riding the 'Indian wave'. The story for merchandise trade is different - but still exciting. There is good potential for growth and the Governments of India and New Zealand are now embarked on an FTA study seeking to explore ways to take the relationship to a new level and in new directions.
The Indonesia equation is a compelling one: the country is large, 240 million inhabitants; it is richly endowed with oil, gas, coal, tin copper, gold, silver and other resources such as agriculture and fisheries. Pretty much, name it, Indonesia has it.
Politically, Indonesia is relatively stable. After some years of uncertainty, it is now consolidating as a vibrant democracy. Economically, Indonesia is growing annually at 6-7 %. It has so far been relatively insulated from the financial market problems. The prospects for ongoing growth are sound.
The implications for New Zealand of a large, stable
and growing democracy to our North have to be positive.
Our exports (mainly commodities) have increased
nearly 100% in four years to NZ$800 million. Indonesia
is our largest market in South East Asia and seventh
biggest in the world – just ahead of Taiwan
and Germany. Two way trade is NZ$1.6 billion. NZTE‘s
specific focus is food and beverage, education
and specialised manufacturing.
Timor-Leste has suffered a turbulent history and faces sharp challenges as a newly independent state. It is ranked at 150 out of 177 states in the 2007 UN Human Development Report, making it by far the least developed country in the Asia region. Adult literacy is about 50% and the population growth rate is 3.4% per annum, one of the highest in the world. 44% of the population are under the age of 15. Timor-Leste has petroleum resources, and modest sustainable revenue is guaranteed under a special trust fund.
In 2007 a new president and a new coalition government were elected, and new government programmes have identified areas of national priority for 2008. Government administrative machinery and capacity however is a particular challenge.
New Zealand is continuing to support Timor-Leste through the provision of about 180 NZDF personnel to the International Stabilisation Force and 25 New Zealand Police to the UN Police with the United Nations Integrated Mission to Timor-Leste (UNMIT); as well as through NZAID programmes (about $5 million per annum).
