New Zealand and Saudi Arabia Promote Closer Trade
Joint Statement issued by the New Zealand Minister of Foreign Affairs, Hon Murray McCully and HE Ahmed Al Hakbani, the Deputy Minister, Saudi Ministry of Commerce and Industry.
The New Zealand Foreign Minister, Hon Murray McCully, who is visiting Riyadh met with Deputy Minister of Commerce and Industry, H.E Ahmed Al Hakbani. During the visit, both sides underscored the growing importance and substance of the bilateral trading relationship.
Both parties expressed pleasure with the forthcoming launch of the Saudi Arabia / New Zealand Business Council that evening at the New Zealand Residence and noted the establishment of the new Council was a concrete example of the broadening bilateral trading relationship.
Hon Murray McCully and H.E. Al Hakbani commented Saudi Arabia and New Zealand were complimentary trading partners and spoke positively about the trading relationship and the growing food security partnership between New Zealand and Saudi Arabia. The representatives noted that this would continue to deepen and expand once the New Zealand/Gulf Cooperation Council free trade agreement comes into force and both sides expressed a firm desire to press for progress with the FTA over 2016.
In the year to June 2015, bilateral trade between Saudi Arabia and New Zealand was 2.73 billion Saudi Arabian Riyals.