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Government announces updates to Fuel Response Plan
The announcement(external link) made by Ministers Willis and Jones on 11 May, set out who the priority users were under Phase 4 of the plan (previously Phase 3). Critical Users, which included emergency services, health, schools, courts, money services and lifeline utilities, would have priority and uncapped access to fuel. The ministers noted that these changes to the Fuel Response Plan had been made following extensive consultation and engagement with business and industry, and other stakeholders.
Also announced was a finalised deal with Z Energy, which would see them store an additional 90 million litres (nine days of supply) of diesel at Marsden Point by the end of June.
New Zealand welcomes Costa Rica to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
On 6 May, Trade and Investment Minister Todd McClay welcomed the substantial conclusion of negotiations for Costa Rica’s Accession to CPTPP. This paves the way for Costa Rica’s accession into CPTPP, one of the most comprehensive trade deals ever concluded. CPTPP is a high standard agreement that underpins rules-based trade and economic integration in our region and beyond.
When Costa Rica formally accedes to the Agreement, over 94% of products will be able to enter its market duty-free on day one, rising to 99% within 10 years. New Zealand will also have access to strengthened commitments for investors, services, and government procurement, which will enable New Zealand’s service sector to compete on a comparable basis with trade competitors. Temporary entry of businesspeople commitments have also been agreed, which will support our businesspeople to operate in Costa Rica.
Read the CPTPP Ministerial Statement [PDF, 94 KB]
Read the Key Outcomes [PDF, 150 KB]
Read the media release: New Zealand welcomes Costa Rica joining CPTPP(external link)
Any further feedback, including on specific accession candidates, is welcomed via cptppconsultations@mfat.govt.nz
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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
- Impact of the Iran conflict on EU markets
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.
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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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