Weekly Global Report:
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Domestic
New Zealand and Singapore sign world-first agreement to maintain flow of essential goods
The Agreement on Trade in Essential Supplies (AOTES) was signed on 4 May 2026 by New Zealand Minister for Trade and Investment, Hon Todd McClay and Singapore Minister-in-charge of Energy and Science & Technology, Dr Tan Lee Seng, in the margins of the inaugural New Zealand-Singapore Leadership Forum. AOTES establishes binding commitments on both countries to not impose export restrictions on an agreed list of goods, which include food, fuel and medical supplies as well as others.
Global
Europe
EU–Mercosur Trade Deal Takes Provisional Effect, Creating One of World’s Largest Free Trade Areas
The European Union’s trade deal with South America’s Mercosur bloc (Argentina, Bolivia, Brazil, Paraguay, Uruguay) has taken provisional effect 1 May, after 25 years of negotiations. The deal creates one of the world’s largest free trade areas with about 720 million consumers. Signed in January 2026, the agreement aims to remove tariffs on more than 90 percent of bilateral trade, boosting EU exports such as cars, wine and cheese while easing access for South American agricultural goods. Its implementation is provisional, pending legal challenges within the EU over bypassing parliamentary approval. Supporters describe it as a reaffirmation of multilateralism, while critics warn of risks to farmers and the environment.
Upcoming Events
NZTE and MFAT to co-present webinar at Techweek 2026
The global digital economy is shifting fast, reshaping both risk and opportunity for tech exporters. On 19 May, this joint New Zealand Trade and Enterprise and New Zealand Ministry of Foreign Affairs and Trade Techweek session, will explore how trade policy, regulation, and market shifts are affecting New Zealand tech companies — and how exporters can build resilience while unlocking growth.
Feedback
We welcome feedback from New Zealand exporters on this report and invite requests for reporting from New Zealand’s network of Embassies and High Commissions. If you have suggestions on a topic you would like to hear more about, or to subscribe to this weekly update, you can sign up here(external link) or email us at exports@mfat.govt.nz
Market reports released this week
- Read the previous global economic round-up
- Made in (and with) the European Union: Procurement changes and opportunities under the EU’s proposed Industrial Accelerator Act
A full list of global economic round-ups can be found here(external link)
If you would like to request a topic for reporting please email exports@mfat.govt.nz
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.
Sign up for email alerts
If you would like to subscribe to this weekly update, go to our subscription page(external link) or email us at exports@mfat.govt.nz
Learn more about exporting
New Zealand Trade & Enterprise’s comprehensive market guides(external link) cover export regulations, business culture, market-entry strategies and more.
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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