Maori business urged to embrace trade pact

Photo: Waatea Image Database.

Māori producers are being urged to look for opportunities in Indonesia arising from the Regional Comprehensive Economic Partnership.

The pact between 15 Asia-Pacific countries was signed yesterday in a virtual ceremony.

Prime Minister Jacinda Ardern says free trade agreements like RCEP will help New Zealand recover from the economic impacts of COVID-19 and seize new opportunities for exports and investment.

In its advice on the deal, the Ministry for Foreign Affairs and Trade says land and other primary sector assets form a large part of the overall Māori asset base, and Māori enterprises account for 40 per cent of New Zealand's forestry, 50 per cent of the country’s fishing quota, 30 per cent of sheep and beef production and 10 per cent of dairy production.

It says the RCEP is expected to benefit Māori exporters and businesses by creating a single rulebook covering all 15 markets, which should reduce complexity and compliance costs.

Market access into Indonesia will improve for some primary sector products of relevance to Māori export businesses, with the removal of tariffs on sheepmeat, beef, fish and fish products, liquid milk, grated or powdered cheese, honey, avocados, tomatoes and persimmons.

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