Summary
New Zealand Trade and Agriculture Minister Todd McClay led a delegation of 70 businesses to the 7th China International Import Expo (CIIE) in Shanghai from 5-10 November 2024. McClay said New Zealand and China can cooperate in areas such as climate change and clean energy, and the two sides have held the 5th NZ-China Ministerial Dialogue on Climate Change. China is New Zealand's largest trading partner, with bilateral trade reaching NZ$380 billion in 2023, four times the level when the free trade agreement was signed in 2008.
New Zealand's economy is highly reliant on exports, with 90% of products exported, mainly in agriculture, fisheries, and forestry. Most exporters are small and medium-sized enterprises (SMEs) with fewer than 20 employees. McClay emphasised showcasing safe, high-quality products and services through CIIE, aiming to double export value within ten years.
In emerging sectors such as health, nutrition, and gaming, he welcomed extensive cooperation between NZ and Chinese companies.
Commentary
For SME owners, CIIE offers direct access to the Chinese market. Firstly, the 70-company delegation reflects the high priority New Zealand officials place on trade with China, and SMEs can leverage this government platform to reduce market entry costs. Secondly, McClay's mention of emerging areas like health, nutrition, and gaming provides direction for product differentiation – SMEs can explore high-value-added categories rather than relying solely on traditional dairy, meat, and fruit.
On the other hand, cooperation on climate change and clean energy may spawn new trade standards (e.g., carbon footprint labels); if your products meet green requirements, that could become a competitive advantage. However, competition in the Chinese market is fierce, and dairy accounts for a large share of the NZ$380 billion trade, so new categories require precise targeting. It is advisable to prioritise post-expo buyer matchmaking events and monitor progress on mutual recognition of green certifications arising from the 5th NZ-China Climate Dialogue.
Keywords: CIIE, New Zealand, trade, Minister McClay, SMEs, cooperation, dairy, climate change, export, green finance
Source: Baijiahao
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