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United States Business Summit – NZ gears up to bolster US ties at business summit

New Zealand is gearing up to spotlight its relationship with the United States at the upcoming United States Business Summit, with a clear intention to boost bilateral ties and explore fresh pathways for economic growth and cooperation, says United States Business Summit Co-Chairs, Fran O’Sullivan and Simon Bridges.

“This summit arrives at a pivotal moment amid unprecedented global uncertainty, offering a vital platform to address economic challenges and pave the way for stability and progress.

“The incoming Prime Minister Chris Luxon, Minister of Finance Nicola Willis, and Minister of Trade Hon Todd McClay, will each outline their strategic priorities to strengthen the NZ-US relationship and bolster bilateral ties.

“The pressing need to elevate ambitions at both governmental and business levels is underscored by the continual growth opportunities with the United States. As our third-largest trading partner, the United States represents a rapidly growing source of foreign direct investment, innovation, research, and tourism.

“The emerging high-value sectors, including green technologies, sustainable agricultural exports, space, and advanced technologies, present a significant opportunity to expand and diversify the bilateral relationship. Grasping these opportunities demands a collective effort within this pivotal partnership, a keen understanding of the evolving business environment, and, above all, ambition.”

As the United States shifts its focus towards security and industrial policies, Ms O’Sullivan and Mr Bridges stress, “the important need to reassess changing trade dynamics and their overarching implications on New Zealand’s business environment.”

Recent statistics, from the year ending June 2023, showcase New Zealand’s total goods and services exports to the United States at NZ$14.05 billion, with imports valued at NZ$11.83 billion, culminating in a total trade value of NZ$25.88 billion.

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