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IPETCA Annual Meeting
The Indigenous Peoples Economic and Trade Cooperation Arrangement (IPETCA) members (Australia, Canada, Chinese Taipei, and New Zealand) held their annual in-person Partnership Council meetings during APEC Economic Leaders Week in Korea from 27-29 October. The meetings marked the conclusion of New Zealand’s inaugural 2024-25 chairing and the formal hand over to Australia for the 2026-27 period. Members noted New Zealand’s leadership in developing and implementing the inaugural workplan, strengthening and promoting the IPETCA membership, and setting the strategic direction for 2026-27. Indigenous IPETCA representatives also participated in the third annual APEC Ministerial Dialogue with Indigenous Peoples titled “Pathways to Enhanced Indigenous Economic Empowerment and Trade” alongside APEC Ministers and Heads of Delegation, providing an important opportunity to reinforce the role that APEC can play to increase trade and economic participation across the region.
APEC Regional Trends Analysis
APEC has released its latest Regional Trends Analysis(external link) highlighting expectations of strong trade performance and demand for high-tech goods. However, the report notes that momentum in growth is unlikely to be sustained in 2026 amid fading drivers and tighter fiscal space. Inflation has eased across the region, creating room for accommodative monetary policy, yet elevated debt continues to limit fiscal capacity to support growth. The report calls for restoring confidence amid ongoing uncertainty through sound economic management, transformative reforms, and deeper regional cooperation – including strengthened dialogue and multilateralism. Read the APEC Policy Support Unit blog(external link).
World Trade Organization Forecasts Stronger 2025 but Warns of Slump in 2026
The WTO’s Global Trade Outlook & Statistics – Update: October 2025(external link) reports a notable rebound in global merchandise trade volume, revising its forecast for 2025 to 2.4%, up sharply from just 0.9% in August and reversing an earlier projection of a decline.
Regional performance (first half 2025)
- Asia: Exports +10.4% year-on-year, leading global recovery; imports +5.8%.
- North America: Exports +3.2%; imports +2.1%, held back by consumer slowdown.
- Europe: Exports +1.8%; imports +0.9 percent, weighed by subdued manufacturing.
- Africa: Exports +5.5%, driven by energy and agricultural shipments; imports steady.
- South America: Exports +4.3 %; imports +3.6 %, supported by commodities.
Sector highlights
- Technology goods (AI, semiconductors, telecom): Up 14% year-on-year — accounting for nearly half of global trade growth.
- Agriculture: Up 3% year-on-year — driven by grain and dairy exports.
- Energy: Mixed; oil exports declined 2%, LNG and renewables shipments up 5%.
Domestic
New Zealand Awarded AAA Credit Rating by Morningstar DBRS
The global rating agency Morningstar DBRS has assigned New Zealand a sovereign credit rating of AAA with a stable outlook(external link). The agency cited New Zealand’s “prudent fiscal and monetary policymaking,” moderate public debt levels relative to advanced economy peers, and a well capitalised banking sector as key strengths. It noted however, that medium term fiscal consolidation remains important and flagged downside risks from ongoing global trade uncertainty and weaker commodity demand.
India and New Zealand Make Progress in Fourth Round of FTA Negotiations
The fourth round of negotiations were held in Auckland and Rotorua from 3–7 November 2025. This round included a visit by Indian Commerce and Industry Minister Piyush Goyal who met with New Zealand Trade and Investment Minister Todd McClay to focus on their shared ambition to secure a balanced, comprehensive, and ambitious FTA. Discussions are to continue in New Delhi next week. You can read the press release here(external link).
North Asia
8th China International Import Expo in Shanghai
The 8th China International Import Expo (CIIE) took place in Shanghai from 5-10 November. Over 80 New Zealand companies showcased a range of high-quality innovative products and services at China’s premier trade event. The Minister for Trade and Investment travelled to China to support New Zealand businesses on the ground, joined by a trade delegation. The number of New Zealand companies in attendance reached a record high since the expo’s inception, demonstrating the strong interest from New Zealand exporters in the China market.
Korea and New Zealand agree Comprehensive Strategic Partnership
On 31 October, Prime Minister Christopher Luxon and Korean President Lee Jae Myung announced the New Zealand-Republic of Korea Comprehensive Strategic Partnership (CSP), marking a major milestone in the relationship.
The CSP highlights an already strong partnership, reaffirming and strengthening existing areas of cooperation and laying the foundation for significant new areas of cooperation.
The CSP sets out three pillars: Strategic and Security, Prosperity and Innovation, and People and Planet. Under each, they agreed to substantive new initiatives including:
- A joint science programme focused on quantum technologies;
- Upgraded Double Tax Agreement;
- Paperless certification for livestock exports, streamlining processes for exporters;
- Expanding an agreement on customs and law enforcement, to tackle issues such as drugs smuggling and illicit tobacco;
- New Antarctic Consultations building on a long history of cooperation, and new science cooperation in the Ross Sea;
- An MOU to enable practical cooperation on disaster response;
- Regularising their Economic Security Dialogue;
- Working together and with others on supply chain security for critical minerals;
- Supporting practical projects that deliver for Pacific partners; and
- A new Strategic Dialogue to take forward their elevated partnership.
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.net
Market reports released this week
- Read the previous global economic round-up
- Strengthening Ties: UAE Economic Outlook and New Zealand’s CEPA Advantage
- Indonesia's Digital Economy
- EU Circular Economy: Ecodesign, Digital Product Passports, and Green Public Procurement
- EU Critical Raw Minerals: Update
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.net
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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