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Trade and Economic Updates
APEC
APEC Regional Trends Analysis
APEC has published its latest APEC Regional Trends Analysis(external link) report which provides an overview of the region’s economy through an analysis of macroeconomic, trade, and investment trends. It tracks recent trade and investment measures implemented around the region, and discusses risks and opportunities to the region’s economic outlook.
APEC Report on Paperless Trade
APEC’s Policy Support Unit have published a report detailing the use of public and commercial paperless trade platforms across eight APEC economies. The report, Promoting the Utilization of Paperless Trade Platforms in the Post COVID-19 Era(external link), examines the enablers for successful paperless trade platforms. It also includes insights into the benefits and key barriers for business of adopting paperless trade platforms.
North Asia
Possible Third Round of Trade Talks between Japan and the US
Japan is reportedly aiming to hold a third round of trade talks with the U.S. in Washington next week. Media is reporting that Japan is preparing a set of proposals to encourage U.S. concessions, including increased imports of American corn and soy, collaboration on shipbuilding, and adjustments to auto inspection standards. Tokyo's primary objective is reportedly securing exemptions from U.S. tariffs on automobiles and auto parts, a crucial aspect of its export-driven economy. The lead for talks with the US, Economic Revitalization Minister Akazawa stated that Japan would continue to push for a review of various U.S. tariffs, including those on autos, steel, and aluminium. Currently, Japan faces a possible 25% tariff on auto imports starting in July. Further information can be found at this link(external link).
South and Southeast Asia
Following significant engagement over the last month, the first in-person round of negotiations towards a comprehensive India New Zealand Free Trade Agreement (FTA) took place in New Delhi last week (5-9 May). Trade negotiations with India commence | Beehive.govt.nz(external link)
India and the UK Announce Free Trade Agreement
India and the UK finalised a free trade agreement on May 6, 2025. The agreement will reduce tariffs on 90% of UK goods entering India, with 85% becoming duty-free within ten years. Immediate or phased tariff cuts will apply to products like whisky, automobiles, medical devices, and food. India will gain tariff-free access to the UK for 99% of its goods, including textiles, leather, and engineering products. The agreement also covers digital trade, services, and government procurement, but not dairy. Both India and the UK are reporting this will provide a significant boost to their economies. Separately, India is negotiating trade deals with a number of other countries, including the US, the EU, Chile, and of course, New Zealand.
Domestic
RBNZ Publishes Financial Stability Report
The Reserve Bank of New Zealand has published its latest Financial Stability Report. It reports an increased risk to New Zealand’s financial stability due to global trade tensions and economic uncertainty. It also notes that while risks have increased, banks continue to have high levels of capital and are well placed to support New Zealand’s economy even if conditions were to worsen. You can access the report and a summary of its findings at the link below:
Financial Stability Report May 2025 - Reserve Bank of New Zealand - Te Pūtea Matua (external link)
MFAT is seeking feedback on a non-binding open plurilateral to resolve non-tariff barriers
MFAT is seeking views from the public on a new initiative to address non-tariff barriers. Non-tariff barriers are rules that unfairly restrict or distort trade. Businesses often describe them as red tape, bureaucratic rules, or hassles. New Zealand is taking a fresh approach to this problem by negotiating an open plurilateral – this means an Arrangement that’s open to multiple countries to join if they choose to - that would bring together economies interested in promoting free and open trade. For more information on the plurilateral please visit our website at the link below:
Have Your Say: New Zealand is negotiating an Arrangement to help resolve non-tariff barriers
More reports
- Read the previous global economic round-up
Reports released this week:
A full list of global economic round-ups can be found here(external link).
View full list of market reports.
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External links
The following links may provide useful information to businesses:
NZTE’s website(external link) and their myNZTE(external link) provides a range of insights and tools available to support New Zealand exporters.
The Treasury releases a weekly economic update(external link) every Friday. Stats NZ has published a data portal(external link) with near real-time economic indicators.
MBIE publishes a sector reports series(external link) which provides regularly updated reports on all industry sectors that make up the New Zealand economy. These include official economic data and the challenges and opportunities that face New Zealand’s industry sectors.
Business.govt.nz(external link) provides tools and advice from across government to save small businesses’ time and help make the business a success.
MFAT has created a tariff finder(external link) which is designed to help goods exporters and importers maximise benefits from New Zealand’s Free Trade Agreements and compare tariffs in 136 other markets.
The all of government Trade Barriers(external link) website can be used to register any trade barriers experienced or issues exporting to an offshore market. Queries can be sent via the website or through the MFAT Exporter Helpline 0800 824 605. Enquiries will be sent to the government agency best placed to answer.
Tatauranga Aotearoa Stats NZ provides official data on the value of New Zealand’s exports and imports of both goods and services, by commodity type via the New Zealand Trade Dashboard(external link). This interactive dashboard is updated every quarter and allows for filtering by country and by commodity type.
Feedback
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Disclaimer
This information released in this report aligns with the provisions of the Official Information Act 1982. The opinions and analysis expressed in this report are the author’s own and do not necessarily reflect the views or official policy position of the New Zealand Government. The Ministry of Foreign Affairs and Trade and the New Zealand Government take no responsibility for the accuracy of this report.
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