KELVIN SYMS: NEW ZEALAND GOVERNMENT PLANS TO EXPAND EXPORT MARKETS

By Kelvin Syms

Introduction

An experienced financier, business consultant, and entrepreneur, Kelvin Syms provides companies with expert guidance in operations, funding, and recruitment. Based in New Zealand, Syms possesses considerable knowledge of export development.

New Zealand Export Efforts

A recent report by the New Zealand government indicates official commitment to ongoing export expansion efforts. According to the report, the nation’s Ministry of Business, Innovation, and Employment plans to increase the economic impact of exports to 40 percent of New Zealand’s gross domestic product (GDP) by 2025. Currently, exports account for just 30 percent of the GDP.

Conclusion

Although this target appears daunting, New Zealand Finance Minister Bill English anticipates its achievement through the concerted development of existing and new export markets. The government strategy entails growth of export markets to expand the national economy and create opportunity for residents. To support the effort, officials plan to improve and enhance the infrastructure needed for manufacturing, distribution, and housing larger numbers of workers. The government also offers a number of tax and financing incentives to companies expanding their operations for export purposes.