In anticipation of no Brexit on the 29th, the UK has released a new temporary post-Brexit tariff schedule. Nearly 90 percent of imports would become duty-free overnight, but some sensitive NZ exports would still face tariffs and tariff rate quotas (TRQs).
Less than two weeks before “B-Day”, the Brexit process has descended into disarray. There is still a risk that the UK will crash out of the EU on or shortly after 29 March with no deal in place, notwithstanding King Canute-like attempts to avert this. Perhaps more likely, however, there is a prospect of a long delay of months or years – or equally that PM May’s original Withdrawal Agreement will finally be agreed, meaning in effect status quo ante for trade until the end of 2020. All of this leaves business – including New Zealand exporters – with little certainty, even as the clock ticks down to Brexit.
This media release was originally published on the ABAC website. The potential for the digital economy to drive inclusive and sustainable growth is substantial, but [read more…]
The last year has been something of a roller-coaster ride for the relationship between New Zealand and China. Against a background of great power rivalry and geo-political tension, points of difference between the two countries have emerged to test the resilience of the “comprehensive strategic partnership” which was agreed back in November 2014.
It’s great to be back in Hawke’s Bay again and talking with you about trade and economic opportunities, not this time with the United States, or China, or Japan, but with old friends in Europe. – Stephen Jacobi, NZIBF
This submission is made on behalf of the NZ International Business Forum (NZIBF), whose members are listed at Annex A. NZIBF is a forum of [read more…]
In her valedictory blog as she prepares to step down from her term on the APEC Business Advisory Council (ABAC), ABAC NZ member Katherine Rich [read more…]
The flow of data across borders now drives more economic growth than the flow of goods – but digital trade regulation lags far behind the realities of international e-commerce and other activity “in the cloud”. New Zealand, along with 75 other WTO members, has agreed to negotiate new trade rules in this area.
A mere 64 days before the UK is due to leave the European Union, the UK-EU-NZ trade picture remains shrouded in the chill mists of confusion. During her visit to London this week, the Prime Minister announced two welcome new UK-NZ agreements on aspects of our trade relationship but it may not be enough.
“Unless deliberate action is taken to avert it, the default will be a ‘no-deal’ outcome on 29 March. This is widely feared as having catastrophic economic implications for the UK (and EU) as well as disrupting trade with third countries… ”