Promoting global trade and investment

The Government has a target to double the value of New Zealand’s exports in 10 years (by 2034) and is committed to attracting greater high-quality investment to raise productivity and drive economic growth in New Zealand.

In an increasingly uncertain geo-political and trade environment, New Zealand’s international reputation is one of its greatest assets. It underpins resilient global connections that lead to international consumers and businesses being willing to buy from, study in, invest in and visit New Zealand.

To unleash the potential of the New Zealand economy, it must be connected internationally and welcoming of foreign capital and people to help the country grow.

We can’t get rich selling to ourselves

New Zealand is a major exporter of high-quality food and fibre products and a provider of world-class international tourism and education, and it has growing sectors built on specialised manufacturing and innovative technology.

In 2023, one in four jobs in New Zealand (around 680,000 New Zealanders) derived their livelihoods from producing goods and services for export. In addition to bringing in additional revenue, businesses that export boost New Zealand’s productivity by:

• exposure to more diverse competition
• connecting to new markets and consumers
• investing in research and development and innovation

Foreign Direct Investment (FDI) into New Zealand boosts economic growth and productivity by improving infrastructure, increasing the pool of capital available to businesses, and bringing in innovation and know- how from abroad.

New Zealand’s inward FDI as a percentage of GDP lags behind the OECD average and Australia – a competitor for foreign capital (see Figure 3).

New Zealand is open for business

Going For Growth is focused on unleashing growth and building capacity, capability and innovation in New Zealand. New Zealand businesses will benefit from streamlined immigration settings, enabling high- value investors, business talent, international students and tourists to visit and work in New Zealand.

This creates the platform for a stronger and more productive export economy.

Accelerating exports requires a concerted effort to improve the focus of many government agencies. This includes:

• ensuring New Zealand Trade and Enterprise’s (NZTE) export services effectively support exporters with the ambition and capacity to grow internationally
• focusing Education New Zealand on new steps to accelerate the number and quality of students coming to New Zealand
• driving Tourism New Zealand to better promote New Zealand as a destination in key tourism markets to attract visitors to all parts of the country
• establishing Invest NZ as a one-stop-shop to attract investment into New Zealand from offshore.

The Government’s trade policy is focused on expanding opportunities for New Zealand exporters, including through reducing barriers, unlocking new markets through Free Trade Agreements (FTAs) and strengthening supply chain resilience. New Zealand will continue to use the international rules-based architecture to promote and defend its trade interests.

The Government has prioritised enhancing international relationships with high-growth countries and regions, including India, Southeast Asia and North Asia, and is pursuing a trade agreement with India.

Modernising the Single Economic Market with Australia will also enable New Zealand businesses to grow their connections across the Tasman.

Ensuring New Zealand businesses maximise the value of existing and future FTAs will also unlock new markets and consumers and broaden opportunities for exporters.

The Māori economy is a significant part of New Zealand’s economy, with an asset base valued at $119 billion in 2023. Many iwi, whānau and Māori businesses are seeking co-investment with global partners to unlock international growth opportunities.

The Government is proactively pursuing growth

The Government led a number of international trade missions throughout 2024, and the high tempo of this engagement will be maintained. In 2024, Trade Missions went to Brazil, China, Japan, Malaysia, the Philippines, Singapore, South Korea, Thailand and the United States, and more are under development for this year.

PM marks one year in Government(external link) — beehive.govt.nz

The Government is committed to resolving non- tariff barriers (NTBs). In the year to June 2024, the Government resolved 14 NTBs affecting $190 million worth of trade. Addressing NTBs is a cross-agency priority.

Government eliminates $190 million in trade barriers to boost the economy(external link) — beehive.govt.nz

Increasing international visitor numbers back to pre- COVID levels is an immediate focus to support tourism growth. For the year ended November 2024, New Zealand reached 86 per cent of pre-COVID visitor arrivals (3,262,899).

Unlocking investment is a priority and is already underway. The Government has agreed to reform the Overseas Investment Act to make investment into New Zealand faster and more efficient.

Overseas investment changes to get New Zealand off the bench(external link) — beehive.govt.nz

Invest NZ will be established as a one-stop-shop to focus on attracting investment into high-value sectors with the potential to raise productivity, expand research and development and drive increased activity by multi national companies in New Zealand.

Invest New Zealand opens doors to the world(external link) — beehive.govt.nz

Alongside this, changes have been made to investor visa settings to welcome migrants to New Zealand who will invest in the country and help drive economic growth. Visitor visa settings have also been loosened to allow digital nomads to continue to work remotely for foreign employers, meaning they will stay longer and spend more in the economy.

Going for Growth: Unlocking investment in NZ(external link) — beehive.govt.nz

Going for Growth: New rules for visiting tourists(external link) — beehive.govt.nz

The Government has also completed consultation on policy proposals to address an aspect of New Zealand’s foreign investment fund rules that may be deterring some people from choosing to settle in New Zealand.

Consultation opens on FIF rules(external link) — Inland Revenue

Major milestones have been accomplished in several international trade and investment agreements. The Government has signed a Comprehensive Economic Partnership Agreement and accompanying investment

Trade and investment agreements signed with United Arab Emirates(external link) — beehive.govt.nz

The Government has signed a Comprehensive Economic Partnership Agreement and accompanying investment treaty with the United Arab Emirates and concluded negotiations for a Free Trade Agreement with the six- nation Gulf Cooperation Council.

New Zealand’s new Minerals Strategy and Critical Minerals List, launched in January, has laid a strategic and enduring path for the country’s minerals sector, with the aim of doubling exports to $3 billion by 2035.

Major milestone reached with launch of Minerals Strategy and Critical Minerals List(external link) — beehive.govt.nz

Government's actions

< Competitive business settings | Innovation, technology and science >