Business guide to Coronavirus

Challenging times produce trans-tasman trade opportunity

A new online tool has launch to help businesses in Australia and New Zealand better connect for trade opportunities during the COVID-19 pandemic. 

Business engagement has already been exceptionally strong between Australia and New Zealand for years – crossing diverse industry sectors from ICT, industrial manufacturing, mining, technology to services and education. 

The trade value

Australia is New Zealand’s second-largest trading partner after China and New Zealand is our 6th largest trading partner. Around 18,700 Australian businesses export at least once a year to New Zealand.  

Australia is New Zealand’s biggest services trade partner while Australia is the largest source of foreign direct investment in New Zealand, at NZ$53 billion.

This is all enhanced by the Australia – New Zealand Closer Economic Relations Trade Agreement (known as ANZCERTA or the CER Agreement) which is one of the most comprehensive bilateral free trade agreements in existence.

It covers substantially all Trans-Tasman trade in goods, including agricultural products, and was the first to include free trade in services.

Our nations also have agreements with industry focus across medical, aerospace and education. 

COVID-19 pandemic 

A valuable trade lesson that COVID-19 has taught businesses is not to put all our ‘eggs into one basket’, particularly when it comes to securing desperately needed medical supplies. 

Many businesses are now waking up to their economic exposure to a single manufacturing giant and looking at ways to diversify supply chains and engage in growth strategies in overlooked markets. 

A new tool to support Trans-Tasman trade 

To help fuel the economy of our region in this post-pandemic global business environment, Transtasmantrade.com has been launched to help businesses on both sides of the Tasman trade with each other.

It will do this by allowing businesses to list their organisation and the products and services they are trading, and then enable them to search for suitable business partners in either New Zealand or Australia that may help them to export successfully to this market. 

Businesses are encouraged on both sides of the Tasman to take advantage of this valuable new tool and to take advantage of the Closer Economic Relations (CER), one of the most comprehensive bilateral trading agreements in existence.

List your business for free

You can list your business now and search for partners by visiting the website.

There is an opportunity to filter the listing for ease of search, by category and location to assist in finding meaningful partners across the Tasman. 

Trans-Tasman travel

The Australian and New Zealand governments have also started to work on a Trans-Tasman COVID-safe travel zone. The concept would help regenerate travel between Australia and New Zealand and stimulate new economic opportunities for both countries. 

This also presents opportunities for the two economies to work towards pooling resources, adding value and enhance the competitive advantage of strategic industries in the region.

Catherine Ngo

Senior Editor and Content Writer – Business Australia

Catherine is passionate about unravelling the latest news and insights to help entrepreneurs, small business owners and employers.

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