Minister Groser to lead NZ Business Mission to Gulf States

Progressing New Zealand’s economic relations with key partners in the Gulf States is the top priority for Trade Minister Tim Groser as he prepares to lead the largest ever New Zealand business delegation to visit the Middle East.

Mr Groser will be joined by 90 business leaders representing around 60 companies, undertaking a programme which will see them progress a focused business programme in Saudi Arabia, Bahrain, Kuwait, and the United Arab Emirate commercial centres of Abu Dhabi and Dubai.

Prime Minister John Key will join the delegation part-way through, following Anzac Day commemorations in Turkey.

“The Gulf region is affluent, modernising and undergoing significant transformation,” says Mr Groser.

“While much of New Zealand’s trade focus has been on the Asia-Pacific area of late, we simply cannot afford to ignore the potential of this region.”

“New Zealand businesses need to be well-placed to take advantage of our expanding economic relationship with one of the world’s most wealthy and progressive regions.”

With a combined population of 35 million people, the countries making up the Gulf Cooperation Council, or GCC, (Saudi Arabia, Bahrain, Kuwait, United Arab Emirates, Oman and Qatar) account for US$1.4 billion in global trade.

Last year, bilateral trade between New Zealand and the GCC totalled over NZ$3 billion, making the GCC New Zealand’s sixth-largest trading partner.

Underlining the significance of the Business Mission is the Free Trade Agreement negotiations with the GCC, which New Zealand is now in the final stages of concluding.

Mr Groser says the agreement is a catalyst for expanding New Zealand’s economic engagement and profile throughout the GCC and the wider Middle East.

“This Business Mission is an important signal of New Zealand's depth of commitment and, in its own right, plays an important role in foreshadowing the potential that exists for future growth and diversification.”

ENDS

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