There are good opportunities for British companies and investors in New Zealand’s growing economy.

New Zealand enjoyed healthy economic growth in 2001 despite a deteriorating international economic climate and the impact of the tragic events of 11 September on travel and tourism.

The outlook for 2002 is also encouraging. The important agricultural sector remains buoyant, and Hamilton Fieldays, the largest agricultural show in the Southern Hemisphere, had a record turnout of visitors and strong sales figures in 2001.

Opportunities for UK exporters
In 2002, New Zealand will continue to offer UK exporters plenty of opportunities in a range of sectors. Although New Zealand has a relatively small population of 3.8m people, it continues to import more British goods per capita than the USA. British exports of goods to the end of September 2001 (latest figures) were up by 7.6% compared with the previous year.

Many exporters of services also find ready market opportunities in New Zealand. Apart from the priority sectors of agriculture and marine equipment, the UK continues to have an important share of the markets for pharmaceuticals, vehicles, books and music, and chemicals. Other sectors which merit attention from UK suppliers include creative media and health care.

2002 events
This year there will again be strong British participation at the Engineering Manufacturers Exhibition (EMEX) and Hamilton Fieldays. New Zealand’s profile on the world yachting stage will also be high, with the Louis Vuitton Cup in October. The UK will be well represented by GBR Challenge, on behalf of the Royal Ocean Racing Club, led by Peter Harrison. This will be followed by the America's Cup in early 2003.

A British Marine Federation trade mission will visit Auckland in October. This should provide an excellent opportunity for UK business to show its expertise in marine goods and technology. Luxury goods suppliers should also consider taking advantage of these Auckland yachting events to promote their products to the many visitors expected.

Investment destination
The United Kingdom remains a major source of investment and capital for New Zealand, with more than 250 companies owning or partly owning a somewhat larger number of registered New Zealand firms. UK participation in the financial sector is particularly strong. And British investment in New Zealand continues to grow. For example Allied Domecq acquired Montana, New Zealand’s leading wine maker, late last year.

I have just arrived in New Zealand and look forward with enthusiasm to my time here. I and my staff stand ready to assist British exporters and investors in developing their business in New Zealand’s expanding market.

HE Mr Richard Fell, CVO,
British High Commissioner, Wellington.

Websites:
www.brittrade.org.nz
www.britain.org.nz