Return to: Index of "1996 Country Commercial Guides" ||
Index of "Economic and Business Issues" ||
Electronic Research Collections Index ||
U.S. Department of State
New Zealand Country Commercial Guide
Office of the Coordinator for Business Affairs
TABLE OF CONTENTS
CHAPTER I. EXECUTIVE SUMMARY
OVERVIEW OF IMPORT MARKET
BRIEF SYNOPSIS OF COMMERCIAL ENVIRONMENT
BUSINESS ATTITUDE TOWARD THE U.S.
MAJOR BUSINESS OPPORTUNITIES
MAJOR ROADBLOCKS TO DOING BUSINESS
NATURE OF LOCAL AND THIRD COUNTRY COMPETITION
CHAPTER II. ECONOMIC TRENDS AND OUTLOOK
MAJOR TRENDS AND OUTLOOK
PRINCIPAL GROWTH SECTORS
GOVERNMENT ROLE IN THE ECONOMY
BALANCE OF PAYMENTS SITUATION
CHAPTER III. POLITICAL ENVIRONMENT
NATURE OF POLITICAL RELATIONSHIP WITH THE
MAJOR POLITICAL ISSUES AFFECTING THE BUSINESS
BRIEF SYNOPSIS OF POLITICAL SYSTEM, SCHEDULE
FOR ELECTIONS, AND ORIENTATION OF MAJOR
CHAPTER IV. MARKETING U.S. PRODUCTS AND SERVICES
DISTRIBUTION AND SALES CHANNELS
USE OF AGENTS/DISTRIBUTORS; FINDING A PARTNER
STEPS TO ESTABLISH AN OFFICE
ADVERTISING AND TRADE PROMOTION
SALES SERVICE/CUSTOMER SUPPORT
SELLING TO THE GOVERNMENT
PROTECTING YOUR PRODUCT FROM IPR INFRINGEMENT
NEED FOR A LOCAL ATTORNEY
CHAPTER V. LEADING TRADE PROSPECTS FOR U.S. BUSINESS
BEST PROSPECTS FOR NON-AGRICULTURAL GOODS AND
BEST PROSPECTS FOR AGRICULTURAL PRODUCTS
SIGNIFICANT INVESTMENT OPPORTUNITIES
CHAPTER VI. TRADE REGULATIONS AND STANDARDS
TRADE BARIERS, INCLUDING TARIFFFS, NON-TARIFF
BARRIERS AND IMPORT TAXEX
LABELING, MARKING REQUIREMENTS
STANDARDS (e.g. ISO 9000 USAGE)
FREE TRADE ZONES/WAREHOUSES
SPECIAL IMPORT PROVISIONS
MEMBERSHIP IN FREE TRADE ARRANGEMENTS
CHAPTER VII. INVESTMENT CLIMATE
OPENNESS TO FOREIGN INVESTMENT
CONVERSION AND TRANSFER POLICIES
EXPROPRIATION AND COMPENSATION
RIGHT TO PRIVATE OWNERSHIP AND ESTABLISHMENT
PROTECTION OF PROPERTY RIGHTS
REGULATORY SYSTEM: LAWS AND PROCEDURES
EFFICIENT CAPITAL MARKETS AND PORTFOLIO
BILATERAL INVESTMENT AGREEMENTS
OPIC AND OTHER INVESTMENT INSURANCE PROGRAMS
FOREIGN TRADE ZONES/FREE PORTS
CAPITAL OUTFLOW POLICY
FOREIGN DIRECT INVESTMENT STATISTICS
MAJOR FOREIGN DIRECT INVESTMENTS
CHAPTER VIII. TRADE AND PROJECT FINANCING
BRIEF DESCRIPTION OF BANKING SYSTEM
FOREIGN EXCHANGE CONTROLS AFFECTING TRADING
GENERAL FINANCING AVAILABILITY
HOW TO FINANCE EXPORTS/METHODS OF PAYMENTS
TYPES OF AVAILABLE EXPORT FINANCING AND
PROJECT FINANCING AVAILABLE
LIST OF BANKS WITH CORRESPONDENT U.S. BANKING
CHAPTER IX. BUSINESS TRAVEL
TRAVEL ADVISORY SERVICES AND VISAS
CHAPTER X. APPENDICES
APPENDIX A COUNTRY DATA
APPENDIX B DOMESTIC ECONOMY
APPENDIX C NEW ZEALAND TRADE STATISTICS
APPENDIX D INVESTMENT STATISTICS
APPENDIX E U.S. AND NEW ZEALAND CONTACTS
APPENDIX F MARKET RESEARCH
1. LIST OF AVAILABLE AND UPCOMING DOC/ISAS
2. LIST OF USDA/FAS/COMMODITY REPORTS AND MARKET BRIEFS
APPENDIX G TRADE EVENT SCHEDULE
1. PRIVATE SECTOR SPONSORED
2. US&FCS - USDOC SPONSORED
THE NEW ZEALAND COUNTRY COMMERCIAL GUIDE
This Country Commercial Guide (CCG) presents a comprehensive look at New
Zealand's commercial environment through economic, political, and market
The CCGs were established by recommendation of the Trade Promotion
Coordinating Committee (TPCC), a multi-agency task force, to consolidate
various reporting documents prepared for the U.S. business community.
Country Commercial Guides are Prepared annually at U.S. Embassies
through the combined efforts
of several U. S. government agencies.
CHAPTER I. EXECUTIVE SUMMARY: New Zealand is the perfect export
destination for new to export companies. New Zealand is an English
speaking country with a strong and stable democracy. Business practices
are very similar to those in the U.S. Exporters will find
transportation and foreign exchange issues to be the largest hurdles to
cross. While New Zealand's population is small, Kiwis tend to be early
adapters and eager to try new technologies. New Zealand's strong export
record with Japan and its positive trend of export growth to ASEAN make
it an ideal joint venture partner for re-exportation of U.S. made goods.
The United States is a close second to Australia as New Zealand's
largest source of imports. This is despite Australia's and New
Zealand's free trade policy. The U.S. is New Zealand's third largest
export market. New Zealand ranks in the top 50 (41st in 1993) of U.S.
export markets. Items in Chapter 84 (nuclear reactors, boilers,
machinery and mechanical appliances; parts thereof) and Chapter 88
(aircraft, spacecraft, and parts thereof) of the harmonized code have
averaged 46% of the total harmonized classifications imports over the
past five years. During that same period there has been a good deal of
shifting of lower volume activity from one to another classification,
opening new market opportunities to U.S. exporters.
New Zealand companies and foreign exporters [to New Zealand] operate in
one of the least regulated markets in the world. The foundation of New
Zealand's growing economic prosperity has been its relatively low
interest rates and very low inflation, combined with political stability
and business deregulation.
Foreign goods and investors are welcome, particularly those operating in
sectors that can contribute to foreign-exchange earnings and employment.
Frequent requests for manufacturing and service industry contacts, along
with the U.S.'s strong trading position with New Zealand, reflect a high
regard placed on U.S. products and services.
Major business opportunities for U.S. exporters will emerge from the
growing discretionary income of the New Zealand public (a function of
its growing economy) and its recent emphasis on consumer choice. Niche
markets (e.g., specialty food, cellular telephones, paperback books,
film and videos); hospital supplies; and agricultural production items
(e.g., machinery, chemicals, genetics) show signs for growth in 1995.
The only major roadblock to doing business in New Zealand would be the
determination that one's product or service is inappropriate for the
Competition is open and encouraged by the economic reforms undertaken by
the New Zealand government. The only disadvantage to U.S. imports is
when they face competition from similar products made in Australia.
Australian goods are imported into New Zealand without tariffs due to
the Closer Economic Relationship with Australia (CER). The U.S. also
loses some ground to Canada which receives preferential tariff treatment
for some products.
CHAPTER II. ECONOMIC TRENDS AND OUTLOOK
MAJOR TRENDS AND OUTLOOK: In 1994 the New Zealand economy grew at a
rate of about six percent. In 1995, GDP growth began to slow, but is
still expected to be about 3 percent per year into 1997. This growth is
accompanied by productive investment, which is also expected to continue
to be strong, requiring the importation of the sort of capital goods
which the United States is well placed to supply. Inflation, measured
by the annual growth rate of the consumer price index (CPI), began to
increase in late 1994, and is expected to peak above four percent in mid
1995, before falling below two percent in mid 1996. In mid 1994, the
government balanced its budget for the first time in sixteen years, and
budget surpluses are expected to continue, enabling the government to
begin repayment of the large foreign and domestic public debt, totaling
33.15 billion New Zealand Dollars (NZD) (21.6 billion U.S. Dollars
(USD)) in mid 1995. This net public debt figure was 37.9 percent of GDP
in mid 1995, and the government intends to reduce this ratio to 27.3
percent of GDP by mid 1997. The government expects to eliminate net
foreign currency debt by mid 1997. Unemployment fell steadily during
1994, reaching 6.6 percent, the lowest level in six years, in March
1995. Unemployment is expected to continue to decline into 1996.
Shortages of skilled labor may appear in some areas, but these are not
expected to severely constrain growth. The principal factors slowing
growth in 1995 are higher interest rates and foreign exchange rates,
both fostered by the Reserve Bank to constrain inflation.
PRINCIPAL GROWTH SECTORS: The largest contributions to annual growth
for the year ended December 1994 were manufacturing and transport,
communications, business and personal services industries. Starting in
1993 and continuing through 1994 the following sectors of New Zealand's
economy reflected strong growth:
Percentage Change in Annual GDP at Constant Prices
Sector Year ended 12/92 12/93 12/94
Construction -2.4 17.6 12.0
Trade, Restaurants and Hotels 1.8 5.0 10.5
Electricity, Gas, and Water -6.9 7.2 8.9
Business and Personal Services 3.6 4.8 7.1
Manufacturing 6.0 5.9 5.6
Construction activity continues to center around large projects such as
the Museum of New Zealand, the Auckland casino, and retail complexes and
The increase in the Trade, Restaurants and Hotels sector reflects the
14.3 percent increase in tourist numbers experiences December 1994
quarter compared to the same quarter in 1993.
Manufacturing production is now at record levels. The increase is broad
based with fabricated metals, pulp and paper, and wood and wood products
being the major contributors.
The two remaining growth sectors (Electricity, Gas, and Water and
Transportation, Communications, Business and Personal Services) are
enjoying the downstream benefits and reinvestment generated by the three
sectors listed previously.
Food and beverage products (seafood, beef, sheepmeat, venison, dairy,
processed foods, apples and kiwifruit, wine, agtritech, wool, leather,
forest products) will continue to be an important part of New Zealand's
export trade contributing over half of New Zealand's total forex
earnings and accounts for 12 percent of GDP.
Manufactured products (building industry, marine, apparel, engineering,
telecommunications, software, education, tourism, consultancy, aviation
training, film and TV commercials) contributes 10 percent of GDP and
accounts for over 16 percent of total exports. Manufacturing products
have shown the largest growth as an export segment in 1995. New Zealand
expects to gain significantly from the GATT Uruguay Round Agreement,
when it comes into force in 1995, and progressively removes
international barriers to agricultural trade, and reduces agricultural
GOVERNMENT ROLE IN THE ECONOMY: New Zealand prides itself on having
removed the government from most previous roles in the economy. After
ten years of economic restructuring, the economy operates almost
completely on market forces, with very little government influence. The
principal remaining influences are the government's spending and tax
powers, and the Reserve Bank Act of 1989 which sets the primary function
of the Reserve Bank as achieving and maintaining price stability. A
subsequent agreement between the Reserve Bank and the Treasury defines
price stability as an annual underlying inflation rate of between zero
and two percent, resulting in the relatively low price inflation cited
above. The government's main budget priorities are to continue to run
budget surpluses, to use the surpluses to retire public debt, and
perhaps (in 1996 or 1997) to reduce income taxes for lower and medium
income New Zealanders. Significant spending increases in the budget for
the fiscal year beginning July 1, 1995, are about USD 560 million
(total) for education, health and social welfare.
While the government once owned major economic enterprises, such as the
railroad and telephone monopolies, these have been progressively
privatized. The main economic activities still owned by the government
are the production and transmission of electric power, some radio and
television broadcasting, and some forests. In 1995 the government was
reviewing its future role in all three of these industries.
BALANCE OF PAYMENTS SITUATION: The current account deficit, NZD 1.311
billion (USD 726 million) for 1994, is expected to remain at or about
that amount, or about 1.5 percent of GDP, for the next few years. While
merchandise exports earn an annual surplus of about NZD 3.2 billion (USD
two billion), services run a deficit of approximately NZD 1.5 billion
(USD one billion). Invisibles are expected to remain strongly negative
at about NZD 4.5 billion (USD 2.9 billion) under the influence of the
deficit in both services trade and investment income. In fact the
invisibles deficit almost equals the investment income deficit, which is
primarily due to the burden from the interest costs of external debt.
INFRASTRUCTURE SITUATION: New Zealand has an excellent transport and
marketing infrastructure with the majority of the country well serviced
by road, air and sea distribution systems. Eighty-five percent of the
population lives in urban areas, making for easy access for products.
The government has budgeted and extra USD 136 million for road
maintenance and improvements for the three fiscal years until mid 1998.
By that time total annual road funding will be USD 538 million.
New Zealand has nearly 2,485 miles of railroad track which link almost
all the principal centers of population. The New Zealand Government
corporatized its railroad assets (later to be known as New Zealand Rail
Limited) in 1992, and sold it to a consortium of foreign and domestic
companies headed up by Wisconsin Rail in 1993. New Zealand Rail's
InterIsland Line operates the main ferry service between the North and
South Islands. This service carries passenger, rail and road traffic.
Other intercoastal shipping services also carry container and roll-
on/roll-off traffic between major cities.
The deregulation of domestic aviation commenced in 1983 and was
completed in 1990 with abolition of air service licensing. Air New
Zealand and Ansett New Zealand are the major domestic carriers.
International air services are operated in accordance with formal
bilateral air transport agreements. In 1995 there were 26 international
airlines operating to New Zealand. (United Airlines was the only U.S.
Over 90 percent of New Zealand exports and imports by value, and almost
99 percent by volume, are carried by sea. Conference lines handle much
of the country's overseas shipping. Port companies established in 1988,
operate 13 major commercial ports. These ports are undergoing vast
improvements in productivity and usage due to corporatization, and in
one case, privatization. In 1992, a total of 15.8 million gross tonnes
was loaded onto and 8.3 million gross tonnes was unloaded off overseas
cargo vessels. Most of this was handled by bulk vessels. Coastal trade
focuses on cement, coal and coke, petroleum products, sand and shingle,
motor vehicles, container goods and other miscellaneous items. In
total, 7.1 million gross tonnes was loaded on and 6.7 million gross
tonnes was unloaded from coastal vessels in 1992.II.
CHAPTER III. POLITICAL ENVIRONMENT
NATURE OF BILATERAL RELATIONSHIP WITH THE UNITED STATES: U.S. relations
with New Zealand are generally excellent. The two countries cooperate
closely on a wide range of trade, scientific, and other issues. There
are no significant economic issues which threaten our thriving bilateral
trade and investment. The major political disagreement concerns New
Zealand's legislation prohibiting the entry of nuclear powered or
nuclear armed vessels. Having determined that New Zealand's anti-
nuclear law is incompatible with full military cooperation, the U.S.
Government suspended its security obligations with New Zealand under the
ANZUS Treaty. In February 1994, the U.S. restored senior-level contacts
on political, strategic, and broad security issues with New Zealand in
hopes that upgraded dialogue would, over time, resolve the dispute and
lead to the restoration of the full relationship our two countries
enjoyed before 1987.
The initial high level visit was made by Admiral Larson, then Commander
in Chief, U.S. Pacific Forces in March of 1994. This was followed by
various visits by dignitaries of both governments, culminating in March
1995 with a visit by Prime Minister Bolger to the White House.
Relations are warming, but the "unfinished business" of the anti nuclear
legislation remains a block to ally status and full security
MAJOR POLITICAL ISSUES AFFECTING THE BUSINESS CLIMATE: The major New
Zealand domestic political issue affecting business is whether, having
successfully restructured the economy from government-regulated to
market-determined, and balanced the budget for the first time in sixteen
years, the government might enact economic and social legislation and
budgets which would threaten growth and the reduction of the large
Most of the economic restructuring is now widely accepted. However it
is not inconceivable that a future government might increase social
services spending so much that the debt could not be reduced, amend the
Employment Contracts Act to reintroduce labor rigidities, or amend the
Reserve Bank Act to add full employment as a goal for the Reserve Bank
(or simply widen the agreed inflation range defined as price stability).
To one extent or another, all of these steps have been proposed by
opponents of the present government.
THE POLITICAL SYSTEM, ELECTIONS, ORIENTATION OF POLITICAL PARTIES: New
Zealand is a parliamentary democracy within the British Commonwealth,
with a one-house legislature. The head of government is the Prime
Minister, who must be a member of parliament, and is usually the leader
of the political party with the largest number of seats in the
parliament. The head of State is the British Monarch, represented in
New Zealand by the Governor General. The Cabinet, formed of Ministers
chosen by the governing party or parties from among its members of
parliament, governs through ministries and departments staffed by
professional civil servants. The court system is based on the British
legal system. The highest court of appeal is the Privy Council in
In a referendum associated with the parliamentary election of November
6, 1993, New Zealand decided to shift to proportional representation for
elections to its parliament. Based on a system used in Europe, this new
system, "Mixed Member Proportional," or "MMP," will come into play in
any election after about mid 1995. A new parliamentary election will be
required by November 1996. Under MMP, each voter will have two votes --
one for an individual candidate to represent his voting district in the
parliament, and a second vote for political party preference. The
second vote will determine the percentage make-up of the new parliament.
All those elected in the first vote will be seated in the parliament,
regardless of the second vote. It is presumed that under the new
system, no one party will likely receive enough votes to have a majority
of seats, and therefore any government will be a coalition of two or
more parties or will be a "minority government" governing with the
acquiescence of the other parties.
In mid 1995, the government was controlled by the National Party, which
held forty-eight of the ninety-nine seats in parliament. (Under MMP
there will be more than 100 seats.) The National Party, in power since
1990, is considered to be the most business oriented and free-market
oriented of the two major parties. In 1995, the largest opposition
party was the Labour Party. Although Labour actually introduced most of
the reforms which brought New Zealand back into a market-oriented
economy in the late 1980's, it now places less emphasis on the market
approach and is more interested in social issues than National. Labour
had 44 seats in parliament. Two smaller parties held two seats each.
The Alliance (of five smaller parties, including the environmentalist
Greens) believes that the government should take a larger role in the
economy, and strive harder for full employment and more generous social
welfare. The New Zealand First Party also supports greater spending on
social needs, but (unlike the Alliance) does not call for this to be
financed by higher taxes. In addition, by mid 1995, three major-party
members of parliament, two from National and one from Labour, had left
their old parties to start new political groups of uncertain viability.
CHAPTER IV. MARKETING U.S. PRODUCTS AND SERVICES
DISTRIBUTION AND SALES CHANNELS: Marketing channels in New Zealand are
very similar to those found in the U.S. The size of the market will
allow one to two distributors per unique product/manufacturer.
The principal import channels are sales agents, importer-distributors
(distributors who import and stock certain lines and take orders for
direct shipment of others), and direct importers and users. Sales
agents are the common medium for selling a variety of products,
including producer's materials bought according to specifications and
consumer goods for distribution to large wholesalers and retailers. The
preference for buying direct from manufacturers is well established in
New Zealand. A number of sales agents carrying a broad range of
products have developed special departments and technical personnel to
market products requiring specialized knowledge.
Agents or importer-distributors are a common channel for the
distribution of products involving technical knowledge, service, repairs
and parts, and other more involved service for the manufacturer.
Typical products handled are metalworking machinery and equipment;
agricultural and electrical machinery; transportation, medical, and
scientific equipment; measuring and testing instruments; and certain
kinds of consumer durables. Importer-distributors frequently are used
to sell certain chemical products, textiles, foodstuffs, and other
consumer goods where stocked supplies are an important factor. A number
of large retailers also buy through purchasing offices in the United
States and other countries. There is a good network of agencies that
specialize in handling refrigerated and frozen foodstuffs throughout New
Numerous subsidiaries of foreign manufacturers import directly from
parent companies and distribute products to round out or supplement
their domestic production. Import and distribution by a New Zealand
branch or subsidiary is common when the volume is substantial and the
foreign parent wishes to retain control of distribution.
A number of well established companies with nationwide networks of
offices perform, in addition to trading activities, a broad range of
other functions such as transportation, packaging, manufacturing, and
distribution at both the wholesale and retail levels. These firms are
usually excellent representatives for new products seeking market
penetration, although they usually import products to complement
With the growth of the New Zealand economy, there has come some blurring
of the traditional pattern of the channels of distribution. In the
past, wholesalers provided the link between manufacturers and retailers.
Large department and chain stores dealing directly with manufacturers or
having factories of their own, and associations of retailers buying in
bulk, together account for a significant volume of goods. In addition,
some manufacturers have established organizations for the purpose of
selling direct to retailers, while smaller manufacturers often sell to
retailers located in areas adjacent to their factories. Wholesalers
sometimes extend the scope of their activity to include manufacturing,
packaging and retailing.
USE OF AGENTS/DISTRIBUTORS; FINDING A PARTNER: Many New Zealand agents
and distributors are active participants in trade fairs world-wide as
both exhibitors and attendees. This activity places them in direct
contact with new product opportunities. Manufacturers then use their
own credit and reference checking resources to verify the competency of
In New Zealand, the U.S. and Foreign Commercial Service (US&FCS) has had
a great deal of success with the Trade Opportunity Program (TOP),
Agent/Distributor Service (ADS), World Trader Data Reports (WTDR), and
most recently the Gold Key Service, as productive means for U.S.
manufacturers to locate effective sales and distribution channels. The
U.S. Foreign Agricultural Service (FAS) (Wellington) has a comprehensive
listing of food importers and distributors as well as their principal
contacts, and also offers exporters the Agriculture Information and
Marketing Services (AIMS) buyer alert network to find buyers.
FRANCHISING: While franchising in New Zealand has only been active in
the last six years, it is becoming an increasingly important way of
doing business as New Zealand companies seek ways to expand in a cost-
effective yet profitable manner. New Zealand has a very high proportion
of small and medium size businesses; many are taking advantage of the
economic upturn and franchising their businesses. According to recent
estimates, there are between 150 and 200 systems (franchisors)
accounting for 2-3% of sales. Most of the initial growth was
concentrated in retail, but has recently included the service sector.
As of mid 1994, specific regulations governing franchising had not been
enacted or proposed.
U.S. based companies have found a great deal of success in franchising
in New Zealand. The best example is McDonalds which has its fourth
largest franchise location per capita in New Zealand (after the U.S.,
Canada, and Australia).
DIRECT MARKETING: Direct marketing started in New Zealand with direct
mail solicitation, often for articles of apparel. In the last six
years, it has become the fastest-growing distribution channel in New
Zealand. The New Zealand Direct Marketing Association estimates that
direct marketing is now a US 1.34 billion dollar industry. The
Association's membership grew by over 40% in the last twelve months.
The deregulation and privatization of the postal system (NZ Post) has
opened the door to special services. NZ Post offers everything from
bulk mailing rates, data processing, and bonded goods storage to
remittance processing. All but the mail processing is also offered by
private third parties. Direct television marketing activity has
increased with the use by internationally based marketers using pay-for-
view channels that access more than one country. Retailers and the
educational sectors use direct response press activity to publicize
immediate opportunities. Telemarketing is used for direct sales, lead
generation, inquiry qualification, customer service operations,
surveying and research, validation of previous orders, promulgating
advertising messages and public image building, credit handling and for
0800 number (akin to 800 numbers in the U.S.) marketing --
telemarketing's hottest growth area.
JOINT VENTURES/LICENSING: There are no compulsory requirements for
foreign companies to form a joint venture with a New Zealand entity when
starting up operations. Some U.S. firms do choose, for their own
strategic reasons, to join forces with established New Zealand firms to
jointly manufacture and market their products.
Licensing by the New Zealand Government for export and import activity
was repealed as part of the significant deregulation of the economy that
occurred in 1983/84.
STEPS TO ESTABLISH AN OFFICE:
1. INDIVIDUAL PROPRIETOR: As in the United States, an individual may
establish a business without incorporation, subject to various
formalities and authorizations that may apply to specific types of
activities. The owner has the sole responsibility for the operation and
is personally liable for debts of the business.
2. PARTNERSHIP: The types of partnerships and the general principles
relating to the rights and liabilities of partners are similar to those
applying under English or American law. Generally, a partner is jointly
and separately liable for all debts of the firm while that person is a
A special partnership, similar to a limited partnership under
English law, may be formed for transaction of business other than
banking and insurance. Such a partnership must be registered and
consist of general partners and special partners. Special partners may
not transact the business of the partnership. Rather, they contribute
specific sums of money to the capital of the business and, beyond that
sum, they are not generally responsible for any debt of the partnership.
3. COMPANY: New Zealand companies law has recently been substantially
amended. From July 1, 1994, the new Companies Act 1993 will govern all
new companies (and existing companies which re-register under the new
Act). The Companies Act of 1955 will continue to govern existing
companies until they voluntarily re-register, or until 30 June 1997,
whichever is the sooner.
Under both Acts, companies may have limited or unlimited liability.
However, the great majority of companies are established as limited
liability companies. The shareholders of limited liability companies
are liable to creditors on dissolution only to the extent of any unpaid
calls on their shares. A limited liability company must have the word
"Limited" as the last word of its name.
Under the new Act, there is no distinction drawn between private
and public companies. However, under the 1955 Act, private companies
need not observe all the requirements applying to public companies,
examples being the rules relating to forming companies, passing
resolutions, and audits.
4. REGISTRATION: Registration must be granted by the Registrar of
Companies and an IRD number assigned by the Inland Revenue Department.
From July 1, 1994, new companies must have at least one share, at least
one shareholder, and at least one director. To become incorporated, an
application for registration involves the following documents:
a signed application in the prescribed form;
signed consents relating to shareholders and directors;
a notice reserving the name of the proposed company (previously
obtained from the Registrar); and
a certified copy of the company's constitution (if it is to have one;
this is optional).
A certificate of incorporation is deemed conclusive evidence that a
company has been duly incorporated under the Act.
Companies must maintain proper accounting records and prepare an
annual report, including financial statements, for shareholders.
Companies also must file an annual return at the Companies Office.
5. REGISTRATION of OVERSEAS COMPANIES: As of July 1, 1994, Part XVIII
of the new Act provides for companies incorporated outside New Zealand
to carry on business in New Zealand. An overseas company must not carry
on business in New Zealand, unless the name of the overseas company has
been reserved with the Registrar of Companies. Within 10 days of
commencing business in New Zealand, an overseas company must apply for
registration under the Act. Registration involves an application
the name of the company;
the full names and addresses of directors;
the address of the principal place of business in New Zealand;
evidence of overseas incorporation and a copy of an instrument defining
the constitution of the company;
notice of name approval; and
the name and address of a person who is authorized to accept service in
New Zealand on behalf of the overseas company.
Overseas companies must file an annual return with the New Zealand
Companies Office. Further, under the Financial Reporting Act 1993,
overseas companies are required to keep accounts relating to their New
Zealand business, and to file financial statements at the Companies
Office once a year. The Registrar may accept financial statements
prepared under the rules of the country of incorporation as complying
with the New Zealand requirements.
Every overseas company must ensure that its full name and the name
of the country in which it is incorporated are clearly stated in any
communication sent by or on behalf of the company, and in any documents
that evidence or create a legal obligation of the company.
6. OVERSEAS INVESTMENT COMMISSION: (see CHAPTER VII, OPENNESS TO
7. REPATRIATION of CAPITAL and FOREIGN REMITTANCES: Repatriation of
overseas capital and capital gains is permitted. It is the policy of
the New Zealand Government to allow the remittance of profits, interest
and dividends earned by overseas investors. This policy applies to loan
investment as well as to direct and portfolio investments.
The only impediment to repatriation of capital falls under the New
Zealand Income Tax Amendment Act (No 3) 1993. The Underlying Foreign
Tax Credit regime allows a credit against the New Zealand company's
foreign dividend withholding payment liability for tax paid by an
affiliated overseas company on its profits. To be eligible for the
credit, the New Zealand recipient company must hold an interest in the
paying company being: (1) a 10 percent or greater income interest in a
controlled foreign company, or (2) a 10 percent or greater voting
interest in a foreign investment fund, the income of which is accounted
for under the branch equivalent system. Non-resident investors
(individuals or businesses) who hold less than 10 percent of the shares
of the recipient company receive, in addition to the cash dividend, an
imputed tax credit based on a portion of the overseas tax payment by the
affiliate. However, no tax credit benefit is available for foreign
investors who own more than 10 percent of the shares of the New Zealand
8. SHELF COMPANIES and LEGAL ADVICE: Shelf companies and specific
legal advice relating to New Zealand incorporated companies are readily
available in any of the New Zealand metropolitan areas. (See part V
under Need For Local Attorney.)
SELLING FACTORS/TECHNIQUES: Both sales presentations and problem
solving techniques are used successfully in New Zealand as approaches to
selling. One-on-one discussions with potential buyers are the
predominate method of selling capital intensive or service products to
other businesses. Telemarketing and mass media advertising are used
most often by retailers to communicate to the public new products or
ADVERTISING AND TRADE PROMOTION: Advertising is well developed in New
Zealand and is used by a large cross section of the business and
institutional community to inform the public about goods and services.
At the end of March 1994, there were approximately 150 advertising
agencies, most of which (122) were New Zealand owned, with the remainder
(28) affiliated to multinationals by total or partial ownership.
The largest share of advertising in New Zealand is handled by the 28
daily newspapers. Eight of these are morning newspapers and 20 are
published in the evening. Of the eight morning dailies, the one with
the largest circulation is The New Zealand Herald, which is published in
Auckland and has an audited net circulation of 238,851 copies daily.
The other dailies have circulations ranging from 3,000 to about 100,000.
Other major newspapers are The Dominion and the Evening Post
(Wellington), The Waikato Times (Hamilton), The Press (Christchurch),
and the Otago Daily Times (Dunedin). There are two national Sunday
newspapers, the Sunday Star Times (circulation 183,701) and the Sunday
News (circulation 121,122).
Currently, two major companies own the majority of the country's daily
papers. The two major publishing groups are Independent Newspapers
Limited (8 papers) and Wilson and Horton Limited (8). These two firms
account for 90% of the country's 1 million daily circulation.
The leading business journal is The National Business Review 9
(circulation 12,782). It is published weekly by Liberty Holdings Ltd in
Auckland. Late in 1993, a second weekly financial journal called The
Independent (circulation 9756) came on the market. It is published by
Pauanui Publishing Ltd in Auckland.
There are over 2,300 magazines available in New Zealand on a regular
basis. Of this number, 58 are listed with the New Zealand Audit Bureau
of Circulations as being either published in New Zealand or New Zealand
editions. Most local magazines (34) are published monthly, 11 are
published on an alternate month basis, and six are weeklies.
New Zealand is serviced nationally by three television stations and a
pay-for-view vendor that presently offers five additional choices.
Television New Zealand (TVNZ), the operator of two of the three (free)
commercial channels, is a State Owned Enterprise (SOE) run independently
from the government. It claims to have almost 100 percent coverage in
New Zealand. TV3 Network Ltd (TV3) is New Zealand's privately owned
commercial network and reaches about 96% of the population. Sky
Television, the pay-for-view operator, offers a 24 hour news (CNN and
BBC) channel, a movie channel (HBO), a sports channel (ESPN), a family
channel, and a documentary channel (Discovery) combined with local horse
There are nine local community television stations and one small cable
network near Wellington. Cable TV is also being trialed in Auckland.
As at April 12 1994, 165 radio stations were broadcasting separate
programs on a continuous basis. 122 of these stations were privately
owned. The New Zealand Government has introduced a bill to sell 40
commercial stations owned by Radio New Zealand, a state owned
enterprise. The Bill has yet to be passed into law.
There are two self regulatory bodies in New Zealand's advertising
industry, the Advertising Standards Authority and the Advertising
Standards Complaint Board. Additionally, the Broadcasting Standards
Authority (statutory) is responsible to radio and television advertising
code and adjudication.
PRICING PRODUCT: There are no government price control regulations.
Export prices on certain agricultural products are maintained by
statutory marketing boards (see CHAPTER VI. under EXPORT CONTROLS).
SALES SERVICE/CUSTOMER SUPPORT: Sales service and customer support is a
growing area of focus for New Zealand retailers and manufacturers.
Historically, under the controlled economy of the 1950's and 1960's, the
consumer did not have many choices or opportunities to speak out. With
the removal of import and export licenses and further movements to
encourage competition in the marketplace, the buyer has become more
demanding and sophisticated; a buyer's market exists. The entrance of
U.S. based retailers and franchises like McDonalds have received glowing
reviews on the level of service. Also, as the population has become
better travelled, expectations of product quality and service have
increased. Consequently, consumer pressure on the entire marketing
chain also has increased.
SELLING TO THE GOVERNMENT: New Zealand has effectively removed all
barriers to foreign firms bidding and winning procurement contracts.
The Closer Economic Relationship (CER) with Australia allows Australian
goods to be considered equal to New Zealand goods (see part VI, under
Membership in Free Trade Arrangements). This factor only comes into
consideration when all bids are equal and the tenderer reviews "local
content" value to finalize the purchase decision. While there are no
laws that require "local content" consideration, the New Zealand
government has encouraged its and State Owned Enterprises (SOE)
procurement officers to buy New Zealand made products when all other
factors are equal.
The New Zealand government has yet to sign the GATT Government
Procurement Code. Government departments and the SOE's must act as
efficiently as possible within their limited budgets and may purchase
from any source, if they believe it offers good products at a reasonable
price. The government believes that since purchasing decisions have
been decentralized, open and transparent tendering are ensured and that
its procurement policy is actually more liberal than that required by
the GATT Government Procurement Code.
Generally, American businesses have not registered any complaints about
their dealing with the New Zealand government or its SOE's concerning
the tendering of procurement opportunities.
PROTECTING YOUR PRODUCT FROM IPR INFRINGEMENT: New Zealand Intellectual
Property Laws have been under review for a number of years. In January
1995 some significant amendments were made to patent law with the
introduction of the Patents Amendment Act 1994, to trade mark law with
the Trade Marks Amendment Act 1994 and introduction of the Geographical
Indications Act, and to copyright law with the introduction of the
Copyright Act 1994 and the Layout Designs Act 1994.
1. PATENTS AND DESIGN: The Patents Act 1953, as amended by the
Patents Amendment Act 1994, and the Designs Act 1953, constitute the
basic New Zealand legislation governing these forms of industrial
Patents are obtainable for "any manner of new manufacture", a
phrase to which a wide interpretation is given. Those who wish to
protect an invention by a patent should arrange for a search of New
Zealand Patent Office records to determine what has been done in the
same field. If the invention appears to be one which is novel and
patentable, an application may be filed at the Patent Office,
accompanied by either a provisional or complete specification describing
the invention. The documents must meet formal requirements, and a fee
must accompany the application.
An application for a patent may be made in either of two ways:
(a) the applicant may apply in the first instance with a
provisional specification and then file a complete specification at a
later date within 12 months or, with application for extension of time,
within 15 months; or
(b) the applicant may file a complete specification at the time
of making the application.
The Paris Convention for the Protection of Industrial Property
("Paris Union"), to which New Zealand is a party, provides that a person
(or his/her personal representative or assignee) who has filed an
application for a patent in one Paris Union country has the right,
within 12 months from the date of the first application in the Paris
Union country, to claim priority for a subsequent application in respect
of the same invention in any other Paris Union country. In New Zealand
such a subsequent application must be accompanied by a complete
specification, together with certified copies of the application filed
New Zealand is also a member of the Patent Co-operation Treaty
(PCT) and can, therefore, be included as a designated country when
making applications by this route.
An application with a complete specification is examined in the
Patent Office to determine whether the invention meets the conditions
for the grant of a patent. For example, a complete specification must
describe the invention and the method by which it is to be performed,
disclose the best method for performing the invention which is known to
the applicant and for which the applicant is entitled to claim
protection, and have a claim or claims which define the scope of the
invention. The application also will be examined to determine whether
it is novel in New Zealand at the date of priority. If the application
passes the examination stage, it is accepted and published in the Patent
Office Journal. Thereafter, the application is open for a period to
opposition by any interested party. If the opposition stage has passed
successfully, the patent is granted for a 20-year term from the filing
date of the complete specification.
A New Zealand patent is a limited monopoly granted by the Crown
(New Zealand Government) to make, use, exercise, and vend an invention
and its products throughout a 20-year period, with the proviso that it
may be terminated in certain circumstances. Those who infringe on
patent rights are liable for damages and other penalties.
The New Zealand Patent Office does not make searches for members of
the public (except trademark searches), but will assist inquirers
wishing to search the registers or the collection of New Zealand and
foreign patent specifications. No search fees are charged. The Patent
Office has a complete record of all patents granted in New Zealand.
There is also a comprehensive library of specifications from overseas
countries. Those not familiar with the practice of the Patent Office
are advised to employ a patent attorney for searches and all work
relating to patents. The Patent Office will supply a list of attorneys
Inventions which are the subject of patent rights may be used only
under license, normally obtained from the patentee. The Patents Act,
1953 gives protection against the abuse of patent rights, and compulsory
licenses and other remedies are available.
Designs may be registered to obtain protection for the shape,
configuration, pattern, or ornament applied to articles by an industrial
process or means. The system for searching the register of designs is
similar to that for patents. To register a design, an application must
be made, supplemented by drawings or photographs of the design. The
convention priority period for designs is six months, in contrast with
the 12 months for patents. An application is examined and a search for
novelty is made. The term of registration is 5 years from the date of
application, which may be extended to 15. A design registration may be
cancelled if found to be invalid for any reason.
2. TRADEMARKS: The Trade Marks Act 1953, as amended by the Trade
Marks Amendment Act 1994, provides for the registration, in respect of
particular goods or services, of a sign or combination of signs, capable
of being represented graphically and capable of distinguishing the goods
or services of one person from those of another. A "sign" includes, but
is not limited to, a device, brand, heading, label, ticket, name,
signature, word, letter, numeral, color or any combination of these.
Thus, a registrable trade mark may potentially include the shape of
goods themselves, the shape of packaging, smells and sounds, if capable
of graphical representation. The appropriate classification of goods
and services is determined according to the Nice Agreement on the
International Classification of Goods and Services, although New Zealand
is not yet a party to that agreement.
Registration may be permanent subject to payment of renewal fees.
To obtain registration of a trade mark, it must have been used or
proposed to be used. A trade mark may be expunged from the register on
the grounds of non-use.
A trade mark registration is infringed by the unauthorized use of
the identical sign on any goods or services for which the sign is
registered, or the unauthorized use of the identical or a similar sign
on those goods or services, or similar goods or services, if such use
would be likely to deceive or cause confusion.
As with patents and designs, there is a register of trade marks
which is publicly available for searching. It is important that this
register be searched before a new trade mark is launched to ensure that
there will be no infringement of any existing trade mark registration.
The registration of trade marks is not essential for protection,
but those who use marks without registering them must rely for their
protection on common law rights and remedies. Definite statutory rights
are given to registered proprietors. Since the value of a well-known
trade mark may be high, its registration is desirable.
The Geographical Indications Act 1994 establishes a registration
system for the protection of descriptions or presentations used to
indicate a geographical origin for specified goods. Initially the only
specified goods covered by the Act will be wines.
3. PLANT VARIETY RIGHTS: A system of protection for plant varieties,
known as plant variety rights (PVR), is administered by the Plant
Variety Rights Office in accordance with the Plant Variety Rights Act
1987 ("the Act"). New Zealand is a member state of the International
Union for the Protection of New Plant Varieties (UPOV), adhering to the
1987 UPOV Convention.
Under the Act, the breeder of a plant variety may obtain a grant of
PVR if the variety is new (it should not have been sold earlier than
certain specified times before application is made), distinct, uniform
and stable. An application for a PVR must be made to the PVR Office
following which an examination is carried out to determine whether the
candidate variety meets prescribed criteria. The examination normally
involves a growing trial of the variety conducted in New Zealand.
Notice of applications, grants and other matters concerning PVR, are
published in the quarterly New Zealand Plant Variety Rights Journal.
A grant of a PVR gives the breeder exclusive rights of
commercialization of the variety for 20 years, or 23 years in the case
of woody plants. Such a breeder is entitled to take court action
against anyone infringing the PVR.
4. COPYRIGHT: Copyright is now governed by the Copyright Act 1994.
New Zealand adheres to the Rome version (but not the Brussels revision)
of the Berne Copyright Convention, and is also a signatory to the
Universal Copyright Convention. These two treaties provide that
citizens of member countries are afforded protection in respect of work
that may be copyrighted.
Copyright may reside in any original literary, dramatic, musical or
artistic work, sound recording, film, broadcast, cable program or
typographical arrangement of published editions. Literary works include
a table or compilation (which includes multimedia products and
databases) and computer programs. Artistic works include graphic works,
photographs, models, sculptures or collages, architectural works and
works of artistic craftsmanship. Layout designs or integrated circuits
are specifically excluded from the Copyright Act 1994 which provides a
10 to 15-year term of copyright-style protection.
The Copyright Act 1994 specifies various circumstances in which
reproduction of copyright material will not amount to an infringement,
for example, if such material is used in fair dealing or for various
research and educational purposes. It also stipulates that reproduction
of drawings included in patent specification or a registered design in
relation to a patent or design that is no longer in effect will not
amount to an infringement of copyright. Further, copyright in an
artistic work that has been industrially applied is limited to a term of
16 years from the date of industrial application (25 years for works of
artistic craftsman ship). The usual term of copyright (other than as
indicated above) is the life of the author plus 50 years.
The Copyright Act 1994 also introduced to New Zealand law moral and
performers' rights. Moral rights include the right to be identified as
the author or director of a work and the right to object to derogatory
treatment of a work.
5. COMPUTER TECHNOLOGY: Computer programs, databases and multimedia
products are subject to copyright. Both computer hardware and software
may now be patented.
NEED FOR A LOCAL ATTORNEY: The legal system in New Zealand has
developed from British law. Much of the law is codified, but English
common law remains important in many areas. The system of courts
extends from the district courts through the High Court and Court of
Appeal to the Privy Council in London. The public receives protection
under a Bill of Rights and may obtain information on request under the
Official Information Act.
It is recommended to use local attorneys when registering a company,
closing a contract, hiring office space, or any other time one would
normally contact an attorney in the normal course of business. The
US&FCS office in New Zealand maintains a list of solicitors and
barristers for reference.
CHAPTER V. LEADING SECTORS FOR U.S. EXPORTS AND INVESTMENTS
Best Prospects for non-Agricultural Goods & Services
(USD millions, unless otherwise noted; Exchange rate USD/NZD in 1993 =
1.81, 1994 = 1.63, 1995 = 1.54)
1 - Aircraft and Parts (AIR)
A recent ISA on helicopter and helicopter parts was finalized in 1994.
The study indicated that there was a tremendous opportunity for spare
part manufacturers. The majority of helicopter sales were imported used
machines. This utilization of previously owned equipment requires more
maintenance. World availability of spare parts has been constrained by
a lack of suppliers.
1993 1994 1995
A. Total Market Size 516.6 649.4 786.8
E. Total Local Production 30.0 35.0 40.0
F. Total Exports 24.4 28.6 32.1
G. Total Imports 511.0 643.0 778.9
H. Total Imports from U.S. 343.6 435.7 531.8
The Above Statistics are Unofficial Estimates
2 - Computers/Peripherals (CPT)
The last ISA on this topic was published in 1992 and one is scheduled
for this year. Recent information on the sector has indicated that
trading levels are much higher than the 1992 ISA estimates. New
Zealanders are typically early adapters and new technology is quickly
accepted and utilized in system solutions.
1993 1994 1995
A. Total Market Size 444.8 609.6 700.0
B. Total Local Production N/A N/A N/A
C. Total Exports 51.6 60.0 75.0
D. Total Imports 393.2 549.6 625.0
E. Total Imports from U.S. 229.1 291.0 390.0
The Above Statistics are Unofficial Estimates
3 - Medical Equipment (MED)
In October 1994, an ISA was published on the surgical equipment sector.
Products from the U.S. contribute to 25% of the import content in this
segment. The health care and emergency service sector is undergoing a
fundamental change in how it is funded. Hospitals and emergency service
providers are encountering private sector competition. This is
resulting in the upgrading of facilities to attract both doctors and
patients. This upgrading offers many opportunities for American
manufacturers and service providers.
1993 1994 1995
A. Total Market Size (est) 16.2 11.8 13.8
B. Total Local Production (est) 0 0 0
C. Total Exports 2.0 1.3 1.3
D. Total Imports 18.2 13.1 15.1
E. Total Imports from U.S. 5.4 3.3 4.0
The Above Statistics are Unofficial Estimates
4 - Telecommunications (TEL)
The last ISA on a Telecommunications subsector was published in November
1994. Highlighted growth areas include the provision of services such
as cellular phones, pagers, mobile radio, and equipment such as PABX and
data transmission equipment and phones.
1993 1994 1995
A. Total Market Size 41.0 38.8 57.4
B. Total Local Production 0 0 0
C. Total Exports 24.0 28.6 33.6
D. Total Imports 65.0 67.4 91.0
E. Total Imports from U.S. 24.0 28.8 33.6
The Above Statistics are Unofficial Estimates
5 - Plastics (PMR)
The ISA on Plastic Materials and Resigns published in April 1993
suggests that the market is driven by price. The growth in the U.S.
import totals over the past two years reflect the devaluation of the US
dollar in regards to the other supplying countries.
1993 1994 1995
A. Total Market Size 135.7 168.2 176.6
B. Total Local Production 0 0 0
C. Total Exports 8.6 9.1 10.0
D. Total Imports 144.3 177.3 1 86.6
E. Total Imports from U.S. 41.3 45.0 49.5
The Above Statistics are Unofficial Estimates
6 - Books and Periodicals (BOK)
New Zealanders have historically been prolific readers. This fact is
further high lighted in an ISA published in October 1994. Paperback
publishing and printing costs in New Zealand are higher than in the U.S.
The use of U.S. technologically and educationally based books continue
to be a growth area.
1993 1994 1995
A. Total Market Size 107.7 111.0 114.3
E. Total Local Production 25.0 27.0 27.0
F. Total Exports 6.9 7.5 6.0
G. Total Imports 89.6 91.4 93.3
H. Total Imports from U.S. 21.5 22.0 22.5
The Above Statistics are Unofficial Estimates:
7 - Automotive Parts and Service Equipment (APS)
An ISA on this sector was published in July 1994. Imports of automotive
parts and accessories market totaled $US 481 billion in 1993. The U.S.
market share was only 5.6% of which 85% was parts and the 15%
accessories. Truck (long haul) parts represent 70% of the total U.S.
parts export volume.
1993 1994 1995
A. Total Market Size 404.4 424.6 439.5
B. Total Local Production 0.2 0.2 0.2
C. Total Exports 76.9 71.1 71.1
D. Total Imports 481.2 495.5 510.4
E. Total Imports from U.S. 22.8 23.0 23.5
The Above Statistics are Unofficial Estimates
Best Prospects for Agricultural Products
N/A - Soybean Meal (tonnes) - 0813100
The domestic poultry and pork industries import all their soybean meal
requirements, with the volume depending on the relative price of other
protein substitutes. With the growth in consumption of poultry and
pork, the industries are requiring more feed inputs. Also there is a
greater interest developing from other livestock industries (dairy,
beef, deer) in supplementary feeding, and consequently imports have
increased. Imports from the U.S. are moving with this trend, but with
more marketing input, could make a dent in Australia's dominant market
1993 1994 1995
A. Total Market Size 50,000 52,000 53,000
B. Total Local Production 0 0 0
C. Total Exports 0 0 0
D. Total Imports 50,000 52,000 53,000
E. Total Imports from U.S. 8,510 10,500 12,000
The Above Statistics are Unofficial Estimates
N/A - Fresh Fruit (apples & grapes, tonnes) - 0574000, 0575100
Note that the above table refers only to apples and grapes, the fruits
projected to have the greatest growth prospects. Currently grapes are
the major import item, followed by citrus, and then apples. Citrus
volumes from the U.S. increased 25 percent in 1994 after a number of
flat years, while U.S. grape imports increased 80 percent to record
levels. Specific import volumes for the above table are: Grapes
(6,700; 6,000; 6,500) and Apples - 1,000; 1,400; 1,500 tonnes.
The United States is the established dominant supplier for both
commodities and, for grapes, has a very good reputation for superior
quality. This has been assisted by the recent removal of a mandatory
fumigation requirement, which has been replaced by offshore pre-shipment
inspection. Apple quality has been mixed in the past, and the cool
chain will need some attention if US apples are to improve their
standing. The 1995 apple harvest was a high volume high quality crop in
contrast with the 1994 harvest which was hit by hail just before
picking. This has resulted in a shortfall of processing fruit and
consequent juice availability. This could see apple juice concentrate
being imported from the U.S. to cover the shortfall. a dent in
Australia's dominant market share.
1993 1994 1995
A. Total Market Size 56,900 59,250 60,000
B. Total Local Production 449,000 518,000 515,000
C. Total Exports 216,000 318,000 310,000
D. Total Imports 7,700 7,400 8,000
E. Total Imports from U.S. 5,000 6,000 7,000
The Above Statistics are Unofficial Estimates
N/A - Prepared Animal Feeds - N/A
The declining production of pet foods from the contracting sheep and
equine industries, along with the increased use of prepared feeds in the
livestock industry, is contributing to growth in this sector. Imports
from the U.S. increased 88 percent in 1994, and prospects are for
similar growth to occur this year and next. Competition will come from
Australia, but higher specification feeds from the U.S. have a solid
1993 1994 1995
A. Total Market Size 200.0 205.0 210.0
B. Total Local Production 195.0 193.0 190.0
C. Total Exports 25.5 4.5 4.5
D. Total Imports 9.5 16.5 24.5
E. Total Imports from U.S. 3.2 4.5 6.5
The Above Statistics are Unofficial Estimates
Significant Investment Opportunities: The GNZ has privatized the
majority of its commercial assets. Radio NZ, TVNZ, NZ Post, Forestry
Corp, Landcorp, and the Auckland Airport are the most prominent
government SOE's with investment potential. Forestry, municipal
utilities (build and operate), health care, tourism infrastructure are
four segments which have recently gained much interest from foreign
The Government of the United States acknowledges the contribution that
outward foreign direct investment makes to the U.S. economy. U.S.
foreign direct investment is increasingly viewed as a compliment or even
a necessary component trade. For example, roughly 60 percent of U.S.
exports are sold by American firms that have operations abroad.
Recognizing the benefits that U.S. outward investment brings to the U.S.
economy, the Government of the United States undertakes initiatives,
programs, investment treaty negotiations and business facilitation
programs, that support U.S. investors.
CHAPTER VI. TRADE REGULATIONS AND STANDARDS
TRADE BARRIERS, INCLUDING TARIFFS, NON-TARIFF BARRIERS AND IMPORT TAXES:
Goods manufactured outside New Zealand (and Australia under CER),
especially materials and machinery required by local manufacturers and
farmers, are generally free of duty. Concessions are granted by the New
Zealand Ministry of Commerce for goods not available from New Zealand
New Zealand is a contracting party to the General Agreement on Tariffs
and Trade (GATT) and has granted preference on imports in a number of
negotiations under GATT. Between 1988 and 1992, a five-stage tariff
reduction program cut most industrial and agricultural tariffs by half,
with larger cuts in high tariff areas. A further program for 1993 to
1996 will cut 1992 tariff levels by approximately one-third, reducing
most tariffs to the 0-14 percent range. Motor vehicles, tires, and
textiles-clothing-carpet and footwear will retain a relatively high
tariff protection when the current reduction program is completed in
July 1996. Based on the current review, a tariff reduction program
(which could reduce levels by one third by 2000) on these products must
be in place before 1997.
Alcoholic beverages (including beer, wine and spirits), tobacco products
and some petroleum products are subject to excise duty. Excise duty is
paid on similar items that are domestically produced.
With very few exceptions, goods imported into New Zealand are liable for
Goods and Service Tax (GST). This tax, currently set at 12.5 %, is
payable on the sum of the Customs Value of the goods, plus any Customs
duty payable thereon, plus freight and insurance costs incurred in
transporting the goods to New Zealand.
CUSTOMS VALUATION: Duties on goods imported into New Zealand are
usually calculated as a percentage of the cost of the goods f.o.b. (free
on board). In some cases, they are calculated on the basis of a charge
on a specific unit of weight, volume, or other measurement ("specific"
rate) and occasionally on the basis of a combination of ad valorem and
specific rates. Ad valorem duty is assessed on the f.o.b. value of the
The rate of duty payable is determined by the classification of the
goods in the New Zealand Tariff which is based on the Harmonized
Commodity Description and Coding system.
The Customs Department in Wellington will give an advance ruling on
goods that are intended to be shipped, provided a sufficient description
of the goods is furnished (and, if requested, samples submitted) for it
to determine the correct customs classification. Such decisions are
regarded as binding, but no responsibility for changes that may
subsequently be made in the tariff rates is assumed by the customs
Application for an advance ruling may be signed by the shipper in the
United States, by the importer in New Zealand or by any other interested
person. Inquiries should be addressed to the New Zealand Customs
Department, Wellington, New Zealand.
IMPORT LICENSES: Import licensing was abolished on July 1, 1992.
EXPORT CONTROLS: An extensive system of licensing of exports and export
incentives and tax breaks for exporters was abolished in the mid-1980's.
By statue, commodity marketing boards have monopoly marketing rights on
exports of dairy products, apples, pears, and kiwifruit. Other boards
maintain licensing systems, but these tend to be unrestrictive.
New Zealand participates in a variety of multilateral arrangements and
agreements which control the export of strategic items, including
missiles and missile components, nuclear and nuclear- related materials,
chemicals and chemical equipment, biological agents and equipment,
defense equipment and defense-related goods, as well as some industrial
"dual use" items that could be used for military or civilian purposes.
For these items, permission to export must be obtained from New Zealand
Customs, which acts on the advice of the Ministry of Foreign Affairs and
IMPORT/EXPORT DOCUMENTATION: The New Zealand Customs Department
requires that each original bill of lading or airway bill for imported
goods be accompanied by an invoice. Printed forms of the invoice may be
purchased at commercial stationery stores located in major port cities.
No consular visa or notarial service is required for the invoice.
The GNZ has established a requirement that exporters' declarations must
include a statement to the effect that any wooden or plywood packing
case, crates, wooden containers, or cargo pallets destined for New
Zealand have been inspected before shipment and found to be free from
bark and visible signs of insect and fungal attack. This declaration
must accompany all bills of lading and other shipping documents.
Items such as fruits, plants, seeds, and the like must be accompanied by
certificates from the competent authorities in the country of origin to
the effect that the items have been examined and have been found to be
free of disease. In the United States, such certificates are issued by
the U.S. Department of Agriculture. These certificates should be
forwarded to the consignee in New Zealand, and should also accompany the
consignment. The Ministry of Agriculture may inspect the shipment on
arrival, and if signs of insect infestation are present, order the
consignment to be either fumigated of denied entry.
TEMPORARY ENTRY: New Zealand admits samples of negligible value duty
free. Small shipments of trade catalogs and price lists printed outside
New Zealand and advertising products produced abroad are admitted duty
free if they bear the name and address of the foreign manufacturer and
are not designed to advertise the sale of those products by any company,
firm or individual with a business established in New Zealand.
Temporary, duty-free admission of advertising films is also permitted,
provided the films relate to the product or equipment offered for sale
and meet other specified conditions.
Samples of commercial value may be imported temporarily under bond or
deposit of the duty amount to which they are liable. Such samples are
subject to the same customs regulations and duties in New Zealand as are
ordinary commercial shipments of the commodities represented. Trade
catalogs, price lists, posters, circulars, handbills, programs,
calendars, play bills, and fashion plates other than those listed above
are dutiable. There is no provision for the prepayment of such duties
in the United States.
LABELING, MARKING REQUIREMENTS: New Zealand prohibits the importation
of all goods bearing false or deceiving trademarks. It also prohibits
the entry of any good of foreign manufacture that bears the name or
trademark of a New Zealand manufacturer or trader, the name of a place
in New Zealand, or words that would be likely to associate the goods
with New Zealand unless the names or words are accompanied by a definite
indication of the country of origin.
There is no general requirement that the country of origin be indicated
on all imported goods. The country of origin must, however, be shown on
footwear, clothing items, and dry-cell batteries. If any goods are
marked with the country of origin, such markings must be true, accurate,
and not misleading.
The Fair Trading Act 1986 is designed to ensure that goods are not
incorrectly marked or advertised as to their nature, quality, or the
place where they are manufactured or produced. Very detailed
regulations are in effect regarding the labels that must be attached to
various prepared, blended, compounded, mixed or imitation foodstuffs.
In general though, the food labeling requirements in the U.S. market
exceed those of the New Zealand market. Paints and colors containing
lead, electrical appliances and equipment, footwear, drugs, toilet
preparations, and food products must also be specially labeled. Wool
products, defined as any product containing 50 percent or more by weight
of wool, must be marked to show, in English, a trade description of the
main fabric in the product and the percentage by the weight of the wool
in the product. Regulations also provide that all packaged goods bear
an indication of the net weight of the contents and specify how such
weights are to be indicated for each commodity. Note that all weights
and measures should be quoted in metrics.
Movie film must be marked on the outer package as "FILMS" in black
letters not less than 2 inches high and with the name of the owner,
distinguishing mark, or number. There are detailed regulations covering
the marking of dangerous goods.
With the exception of movie film and dangerous goods, there are no
regulations governing the marking of outside packing cases. The
consignee's mark, including post mark, should be present, and packages
should be numbered unless the shipment is such that the contents of the
package can readily be identified without numbers. It is also
advantageous to show net and gross weight on the outside packing cases.
PROHIBITED IMPORTS: Although a pervasive system of import licensing
controls was abolished in the mid-1980's, New Zealand maintains controls
on the importation of a variety of items, including firearms and other
offensive weapons, explosives, controlled drugs, hazardous wastes,
radioactive substances, pesticides, plants, animals, and animal and
plant products. Publications, films, audio recordings, and computer
disks are restricted for objectionable material. Some agricultural
goods are restricted on phytosanitary grounds, with the main commodities
affected being pork, poultry and egg products. Only cooked product in
these categories are allowed entry. New Zealand also enforces United
Nations sanctions against Iraq and some areas of former Yugoslavia.
Detailed information is available from New Zealand Customs.
STANDARDS (e.g. ISO 9000 USAGE): New Zealand Standards cover a wide
variety of subjects, including design, safety, specifications of
performance and quality of products. Adoption of these Standards is
generally voluntary, but can be made compulsory through a statutory
reference. Compliance with these Standards may be an important factor
in sales promotion, for example, in the area of production certification
The accreditation authority for ISO 9000 certifying bodies in New
Zealand is JAS-ANZ, the Joint Accreditation System - Australia and New
Zealand, established in 1991 by a treaty between the two governments.
New Zealand operates under the metric system of weights and measures.
FREE TRADE ZONES/WAREHOUSES: There is neither a free trade zone nor a
free port in New Zealand.
Goods may be entered for home consumption, for warehousing, for removal
within New Zealand or for export. The appropriate customs entry forms
are completed by the importer or his agent from information contained in
the invoice, and they are submitted to customs along with all shipping
documents except the bill of lading. New Zealand Customs allows
importers a deferred payment plan whereby they can pay within 6-8 weeks
of picking up the goods. There are adequate provisions permitting an
importer to enter goods on a sight entry, to be completed later, when
full particulars for making a complete entry are known and can be
supplied by the importer. In such cases, a deposit adequate to cover
the duty must be made.
There are wharves approved by the New Zealand Customs for the discharge
of overseas cargoes, and licensed examining places.
Licensed examining places are approved by New Zealand Customs for the
devanning of LCL (Less-than-container-loads) containerized cargo. Those
typically are containers holding goods for more than one importer.
Once containers have been devanned, individual importers can then uplift
their goods upon presentation of a Customs delivery order.
Entry of all goods unshipped or to be unshipped at any port is to be
made within 21 working days. If the goods are not claimed and entries
passed within two months after the 21 days have elapsed, duty becomes
due and payable. The goods at that time may be sold or otherwise
disposed of by the port's Collector of Customs.
Manufacturing Area licenses are issued for the manufacture of any goods
specified in the Third Schedule to the Customs Act (e.g., beer, wine,
spirits, cigarettes, cigars, motor spirits). Items entered into these
areas are not subject to tariffs. Goods entered for home consumption
from a licensed Manufacturing area are subject to duty at the rates
prescribed in the Third Schedule of Customs Act "Excise Duties".
Imported goods, including those removed from a warehouse, may be
transhipped or reexported upon completion of the appropriate entry and
under the security of a bond. Customarily, such entries are passed by
custom agents under the security of their general bond.
SPECIAL IMPORT PROVISIONS: New Zealand acted upon the recommendations
of the United Nations Conference on Trade and Development (UNCTAD) that
developed countries introduce "Generalized Systems of Preference" (GSP)
in favor of developing nations. Special developing country rates for
over 100 countries were incorporated in the customs tariff from 1972.
In 1984, least developed countries were granted further preference.
Products from certain South Pacific countries enter duty free.
Canadian imports have a separate tariff rate that is somewhat reduced
from the standard rate.
MEMBERSHIP IN FREE TRADE ARRANGEMENTS: New Zealand has joined with
Australia in the Closer Economic Relationship (CER), a free trade area,
eliminating all tariffs between the two countries. This is of great
importance to New Zealand as Australia is its largest export market, and
largest source of imports. U.S. exporters and investors should be
aware, however, that rules of origin under the CER do not permit
products to enter Australia duty free from New Zealand unless the
product is of at least fifty percent New Zealand origin, and the last
manufacturing process was carried out in New Zealand. In other words, a
U.S. product imported into New Zealand, if reexported to Australia would
face the normal tariff duty for a U.S. export to Australia. In 1994/95,
New Zealand was considering a proposed linkage of the CER with the ASEAN
Free Trade Area (AFTA). The proposed CER-AFTA link, while potentially
very important, would have little immediate impact because AFTA still
has high internal tariffs which are to be reduced over time. (ASEAN,
the Association of Southeast Asian Nations, consists of Brunei,
Singapore, Malaysia, Indonesia, Thailand, and the Philippines.)
CHAPTER VII. INVESTMENT CLIMATE
OPENNESS TO FOREIGN INVESTMENT: New Zealand welcomes and encourages
foreign investment without discrimination. The Overseas Investment
Regulations 1985 (as amended) require approval by the Overseas
Investment Commission (OIC) for investments over NZD 10 million (approx.
USD 6.5 million) or investments of any size in commercial fishing or
rural land. In practice, virtually all applications are approved.
(Since 1989, out of 3000 applications, only three were disapproved.)
The OIC comprises four members: two from the private sector and two ex
officio, one each from the Reserve Bank and the Ministry of Commerce.
In assessing applications for foreign investment, the OIC considers the
extent to which the proposal will promote New Zealand's economic growth
and development. Factors such as increased competition or efficiency,
transfer of technology or skills, increased exports, and job creation
are considered in the examination.
The review of investments above NZD 10 million applies to greenfields
investments, asset acquisitions, the acquisition of 25 percent or more
of any class of shares or voting stock, or the issuance of shares by a
New Zealand company to an "Overseas Person" when the issuer is an
"Overseas Person" or will become one as a result of the share issue. An
"Overseas Person" is any non-resident company or person or a New Zealand
company where "Overseas Person(s) control 25 percent or more of any
class of shares or voting stock. An "Overseas Person" may not hold a
fishing quota without an exemption from the Director General of the
Ministry of Agriculture and Fisheries. Therefore, foreign investment in
commercial fishing is generally limited to a maximum holding of 24.9
percent. There are no restrictions on the level of ownership of rural
land, but the foreign purchaser is required to demonstrate that the
purchase will be beneficial for New Zealand.
In 1995, the government introduced amendments to the Overseas Investment
Act to simplify investment in land. By mid 1995, this had sparked
considerable political opposition to increased foreign land ownership,
which may alter the government's planned amendments to the Act.
Very few government-owned enterprises remain to be privatized, primarily
electrical transmission, television and radio broadcasting, and some
forestry cutting rights. The government has not discriminated against
foreign interests, to the extent that the former government monopoly
railroad and telephone systems are managed by American-owned companies,
with large minority ownership shares.
The government does not offer incentives to foreign investors. A
stable, low-inflation environment is viewed as the strongest incentive
for investment that the government can provide. Resident companies are
taxed at a rate of 33 percent of income, while non-resident companies
are taxed at a higher 38 percent of income derived from New Zealand.
There is no capital gains tax. New Zealand has double taxation
agreements with 24 countries, including the United States.
CONVERSION AND TRANSFER POLICIES: There are no restrictions on the
inflow or outflow of capital, and the currency is freely convertible.
All capital transactions can be accomplished through normal commercial
EXPROPRIATION AND COMPENSATION: Expropriation has not been an issue in
New Zealand, and there are no outstanding cases.
DISPUTE SETTLEMENT: Investment disputes are extremely rare, and there
have been no major disputes in recent years. The mechanism for handling
disputes is the judicial system. New Zealand is a party to the
Washington Convention on the Settlement of Investment Disputes. It is
not a member of the International Center for the Settlement of
Investment Disputes (ICSID) or the New York Convention of 1958, and has
no plans to become a member. Property and contractual rights are
enforced by the British style legal system. The government does not
interfere in the court system. The highest appeals court is the Privy
Council in London.
PERFORMANCE REQUIREMENTS/INCENTIVES: There are no performance
requirements or incentives associated with foreign investment.
RIGHT TO PRIVATE OWNERSHIP AND ESTABLISHMENT: Aside from the
requirement for OIC approval of foreign investments over NZD 10 million
or in commercial fishing and rural land, there are no restrictions on
the right to establish, own and operate business enterprises. Since
1984, the government has moved aggressively to reduce its involvement in
A number of government entities have been transformed to state-owned
enterprises (SOEs), and several SOEs have been privatized. Aside from
the government equity holdings established at the time of formation,
SOEs are provided no advantages in their competition with private
entities. In general, there has been no restriction on foreign
purchasers in the privatization of assets. However, in the sale of Air
New Zealand, foreign ownership was restricted to 35 percent to protect
its designation in international traffic as a national carrier. The
terms of the sale of Telecom New Zealand (the former government monopoly
phone system) required its U.S. buyers to sell their holding down to
49.9 percent within three years of the purchase.
PROTECTION OF PROPERTY RIGHTS: (see CHAPTER IV., PROTECTING YOUR
PRODUCT FROM IPR INFRINGEMENT)
REGULATORY SYSTEM: LAWS AND PROCEDURES: The Commerce Commission
administers the Commerce Act 1986, which governs restrictive trade
practices. Generally, contracts, arrangements or understandings which
have the purpose or are likely to have the effect of substantially
lessening competition in a market, together with price fixing, are
prohibited and unenforceable, unless authorized by the Commerce
Commission. Before giving its authority, the Commission must be
satisfied that the public benefit would outweigh the lessening in
competition. The Commerce Commission may also prevent a merger or
takeover which would result in the new company gaining a dominant
position in the market. The use of a dominant market position to
restrict, prevent, hinder, deter or eliminate various specified types of
competition is contrary to the provisions of the Act, although the
enforcement or attempted enforcement of any right under or existing by
virtue of any copyright, patent, protected plant variety, registered
design or trademark is not necessarily an abuse of a dominant position.
The use of resale price maintenance by suppliers is prohibited
completely. Advice should be obtained on the application of the Act to
the setting up of exclusive distribution, selling and franchising
arrangements in New Zealand.
Reforms since 1984 have included deregulation as an objective. The most
striking examples are the financial and telecommunications sectors, but
the effort has been broad-based.
EFFICIENT CAPITAL MARKETS AND PORTFOLIO INVESTMENT: Since the removal
of controls on the financial sector in the mid-1980's, money market
activity has grown rapidly, particularly with regard to: foreign
exchange trading; the development of a sizeable secondary market in
government securities; the introduction of a range of new financial
instruments, including forward contracts, options, and exchange rate
futures; and the growing use of hedging devices to handle interest rate
and exchange rate risks. There are 18 registered banks, and access to
the credit system is unrestricted. The estimated total assets of the
five largest banks is approximately USD 43 billion).
The issuance of securities is regulated by the Securities Commission
under the Securities Act of 1978 and amendments. The Act requires
prospectuses for public offerings of new securities and prescribes what
information must be disclosed. An amendment in 1988 provided civil
remedies for loss or damages resulting from insider trading. A number
of New Zealand-listed firms also are traded in Australia, and Telecom
and Fletcher Challenge have gained listings in New York.
Legal, regulatory, and accounting systems are transparent. Accounting
is based on British and U.S. systems. The New Zealand Society of
Accountants has developed Statements of Standard Accounting Practice
(SSAP) that are mandatory for its members. All companies listed on the
Stock Exchange must comply with the SSAP and issue annual reports and
abbreviated half-yearly reports to shareholders. In 1994, the Financial
Reporting Act of 1993 came into effect, legally requiring firms to
comply with financial accounting standards set out by an Accounting
Standards Review Board established by the Act. The mandatory standards
vary depending on the type of firm involved.
While small companies, not listed on the New Zealand Stock Exchange
(NZSE) may include in their constitutions measures to restrict hostile
takeovers by outside interests, domestic or foreign, the NZSE does not
permit such measures by companies listed on the NZSE. In mid 1995, the
New Zealand Government was considering a code to regulate takeovers,
including thresholds of ownership above which purchase of majority
ownership would be required, and whether all sellers must be offered the
same price by takeover buyers, regardless of the percent of ownership
being sold. Whatever the outcome of the possible new takeover code, it
will likely be neutral regarding the nationality of buyer. Existing
takeover rules of the NZSE are also nationality-neutral.
Foreign owned or controlled companies are not prevented from
participating in industry standards-setting organizations.
The primary fact of investment in New Zealand is that foreign investment
is welcomed, encouraged, and prominent in the economy.
POLITICAL VIOLENCE: New Zealand is a stable western democracy. There
has been no significant political violence since the Maori wars in the
BILATERAL INVESTMENT AGREEMENTS: New Zealand has an agreement on the
promotion and protection of investment with China, and in 1992, signed a
Trade and Investment Framework Agreement with the United States. New
Zealand adheres to the Organization for Economic Cooperation and
Development (OECD) Code of Liberalization of Capital Movements and the
OECD Code of Current Invisible Operations.
OPIC AND OTHER INVESTMENT INSURANCE PROGRAMS: As an OECD member
country, New Zealand is not eligible for OPIC programs. New Zealand
does not intend to become a member of the Multilateral Investment
LABOR: New Zealand's labor force of about 1.7 million is well educated
and trained. Unemployment which had risen rapidly, began to decline in
early 1992, reaching 6.6 percent in early 1995. Unemployment should
continue to fall, but more gradually as economic growth slows in late
1995. By mid 1995, some shortages began to emerge among certain
professions and higher skilled technical workers. This was mostly due
to training cutbacks during the preceding economic downturn.
While unions have the right to organize and bargain collectively, the
Employments Contracts Act of 1991 ended compulsory unionism. The Act
also prohibits strikes aimed at forcing companies to sign on to
multicompany contracts, as well as sympathy strikes by workers not
involved in a particular labor dispute. Minimum wages and workplace
safety are provided for under other laws. Disputes are handled by an
Employment Tribunal, and its decisions may be appealed in an Employment
Court. Overall, the labor movement has lost members under the new law,
but some unions have grown, particularly through mergers. Workdays lost
to strikes have declined. In some firms, the Act has engendered more
cooperative and innovative labor-management relations, and enhanced
labor productivity. Labor law protects the workers from exploitation.
FOREIGN TRADE ZONES/FREE PORTS: New Zealand does not have any foreign
trade zones or free ports.
CAPITAL OUTFLOW POLICY: The New Zealand Government places no
restrictions on investment abroad by New Zealand citizens or companies.
No incentives are offered for investing in developing countries.
Taxation policies on foreign tax credits can in some cases inhibit the
outflow of dividends (see CHAPTER IV., STEPS TO ESTABLISH AN OFFICE).
FOREIGN DIRECT INVESTMENT STATISTICS: The New Zealand Department of
Statistics' latest data lists total foreign direct investment of NZD
33.6 billion (USD 18.9 billion) at the end of March 1994, while New
Zealand had direct investment abroad of NZD 9.5 billion (USD 5.3
billion) at that time (see appendix D INVESTMENT Table 1).
Foreign direct investment in New Zealand was equal to about 41 percent
of GDP as of March 1994, and new investments equaled around 5.5 percent
of GDP for the year ending March 1994.
The U.S. Department of Commerce reported U.S. direct investment in New
Zealand at USD 3.0 billion at the end of 1993. In recent years, the
sectors receiving the most investment from the United States were
telecommunications, transportation, forestry, food processing, and
electronic data processing. Other sectors with significant U.S.
investment include petroleum refining and distribution, automobile
assembly, financial services and data processing equipment sales and
Australia remains the largest investor in New Zealand, and Australian
statistics show cumulative investment of USD 5.3 billion at the end of
June 1990. Australia's investment is broad-based, but is particularly
strong in financial services. The United States is second, with an
estimated USD 3.25 billion in March 1995. The United Kingdom ranks
third as an investor, with USD 1.9 billion invested at the end of 1989.
Japan comes fourth, with USD 0.9 billion of direct investment in March
1991. Investment from other Asian countries has increased in recent
years, particularly in commercial real estate.
Per Appendix D, table 2, the United States was the largest source of
foreign direct investment in the year ending March 1994, at NZD 945
million (USD 523 million), or 21 percent of total FDI in those twelve
MAJOR FOREIGN INVESTORS:
INVESTOR INVESTMENT YEAR
H.J. Heinz Food Processing (NZD 567 million) 1992
Wisconsin Central, New Zealand Rail (54 percent of 1993
Berkshire Partners a NZD 400 million investment)
Ameritech and Telecommunications(NZD 4.3 billion) 1990
Bell Atlantic 1993
American Airlines Air New Zealand (5 percent) 1989
Chiquita Horticulture 1991
Pitman Moore Animal Vaccines 1991
Morrison Knudsen Construction 1991
Commodore Inc. Computer Hardware Distribution 1989
Nu-Skin International Skin Care Distribution 1993
Kraft Food Processing 1989
Mars Effem Foods Pet Foods 1993
Fibre Form Wood Products 1992
International Paper Carter Holt Harvey (51.1%) 1992
(NZD 2.2 billion) 1995
ITT Rayonier Forestry (NZD 366 million) 1992
AMAX/ACM Gold Mining 1991
Cyprus Gold Gold Mining 1989
Borden International Carton Packaging 1990
EDS Financial Data Center 1994
(approx. NZD 100 million)
PAC Enterprises Aluminum Cans 1991
Sobel Pharmaceuticals 1992
Grantham, Mayo, Van Investments 1991
Gulf Resources Commercial Property 1991
MCI Telecommunications 1990
Bell South Telecommunications 1992
Edenroc Holdings Hotel 1992
Hertz International Car Rentals 1990
Amax/ACM Gold Mining 1991
Caltex Oil/Boral Gas LPG Production 1990
Sumitomo Forestry Forestry (more than NZD 100 1989
Itoham Foods Beef 1991
Mitsui OSK Kogyokasha Flower Growers 1992
Canon Business Equipment Distribution 1990
Orix Leasing Motor Vehicle Leasing 1990
Asahi Chemical Food Processing 1991
Suntory Food Processing 1990
Innosho Woods/National Wood Processing 1992
Juken Nissho Forestry 1991
Nissho Iwai/Juken Forestry 1991
Oji Paper and C. Itoh Forestry and Pulp Processing 1992
Tachikawa Forest Forestry 1990
Japan Air Lines Air New Zealand (five percent) 1989
Industrial Equity Seeds 1989
ANZ Retail Banking 1989
Commonwealth Bank Retail Banking 1989
National Australia Retail Banking 1992
Boral Building/Construction 1989
Burns Philp Building Products 1990
Pacific Dunlop Flooring 1990
Canon (Aust) Ltd Electronics Distribution 1991
Email Appliance Distribution 1989
Bain Refco Financial Services 1989
National Mutual Life Investment Services 1991
Assurance of Australia
Ord Minnett Stockbroking Services 1990
Ord Westpac Financial Services 1990
Potter Partners Stockbroking Services 1990
Sydney Futures Financial Services 1992
J B Were & Co Stockbroking Services 1989
Ray White Realty Residential Real Estate 1992
Allied Food Co Bread 1991
Amcor Food 1990
Mars Food 1992
MMI Insurance 1992
Adelaide Brighton Building Products Manufacturing 1989
Allbright & Wilson Chemicals Manufacturing 1989
BHP Steel Manufacturing 1991
Email Appliance, Aluminum, Plastics 1989
ICI Australia Chemicals Manufacturing 1989
McPherson Metals Manufacturing 1989
Metal Manufactures Cable Manufacturing 1990
Nutrimetics Cosmetics Manufacturing 1992
Tubemakers Metals Manufacturing 1989
Consolidated Press Magazines 1991
Hoyts Cinemas 1992
News Corp Newspapers 1989
North Broken Hill/ Ilmenite Mining 1989
Orion Resources Gold Mining 1991
Union Gold Mining Gold Mining 1991
Western Mining Oil & Gas 1992
Amcor Carton Packaging 1989
BTR Nylex Packaging 1990
Dancette Printer 1992
South Australia Brewing Aluminium Cans 1991
Spicers Paper & Stationery 1992
Action Holdings/Vox Retail/Wholesale Chain 1992
Dick Smith Retail Electronics 1992
Spotless Catering Linen Cleaning 1991
QANTAS Airline (Air New Zealand 20%) 1991
National Bank of New Rural Banking 1992
Countrywide Bank Retail Banking 1992
(Bank of Scotland)
General Accident Insurance & Banking 1988
Norwich General Insurance 1989
Prudential Life Life Insurance 1989
Sun Alliance Life Insurance 1991
Glaxo Pharmaceuticals (NZD 14 million) 1992
Budget International Motor Vehicle 1990
Stagecoach Buses 1992
CDL Hotels Inc Investment Banking 1992
Nestle Dog Food 1992
Canwest Global Television 1991
Bell Canada, MCI Telecommunications (40%) 1990
CHAPTER VIII. TRADE AND PROJECT FINANCING
BRIEF DESCRIPTION OF BANKING SYSTEM: The banking system of New Zealand
is comprised of the Reserve Bank of New Zealand (the central bank), nine
settlement or clearing banks of which seven have a nationwide network of
branches, a few trustee savings banks, and four investment merchant
banking firms. In addition, finance companies, insurance companies, and
building societies are engaged in the capital investment business.
Stock exchanges are located in five cities and engage in the trading of
domestic and certain foreign securities. Since the sale of the once
state owned Bank of New Zealand to National Australia Bank, all but two
of the clearing banks (see G list at end of this section) are foreign
owned. These banks undertake the customary business of receiving
deposits, handling checks, granting advances (overdrafts), and buying
and selling foreign exchange. These banks also discount bills, but this
is not a highly developed practice in New Zealand. These banks, which
operate primarily in the short and medium term credit sectors, maintain
the usual liaison with banks in the major financial countries of the
The Government of New Zealand's liberalization of the banking system has
ended almost all restrictions on the number, activities and ownership of
banks operating in New Zealand. There are no limits on the number of
licenses granted, and foreign-owned institutions have full equality with
nationally based firms. Banks operate on an "at your own risk" policy
for both management and depositors. Federal deposit insurance and
regulatory functions are not administered by the Reserve Bank of New
The Reserve Bank grants a banking license to any institution that meets
certain requirements. New banks have to apply for a separate license
for foreign exchange trading, but this poses no difficulty. New banks
can issue checks. The nine clearing banks operate and own the country's
sole check clearing system, Interchange & Settlement Ltd (ISL). The
automated clearing function is run by EDS (NZ) Ltd under contract to
ISL. Those setting up new banks are assured by the Government of New
Zealand that it does not tolerate attempts to exclude them.
Three American based financial institutions (Citibank, Bankers Trust, CS
First Boston) are primarily involved with corporate finance, money
market trading, and investment banking. Only Citibank offers retail
mortgage services. A wholly owned affiliate of State Street Bank is the
primary custodial bank in market.
FOREIGN EXCHANGE CONTROLS AFFECTING TRADING: There are no major
controls on foreign exchange trading except for the separate license
requirement stated earlier.
GENERAL FINANCING AVAILABILITY: The main sources of capital for
financing imports or new development in New Zealand are undistributed
profits, the share market, merchant banks, insurance companies, savings
banks, finance companies (including hire-purchase companies), private
sources, the investment by overseas companies in New Zealand branches
and subsidiaries, and joint venture companies. The New Zealand
Government does not have a venture capital program nor does it support
third party organizations as a financier of last resort. Although there
is a broad array of suppliers of capital, there still is a scarcity of
resources for start-up organizations and other high risk ventures.
HOW TO FINANCE EXPORTS/METHODS OF PAYMENTS: Standard financial products
are available in New Zealand to support import and export opportunities.
Secured bank credit and trade finance vehicles (i.e., irrevocable letter
of credit) are readily offered by local financial institutions. Open
account purchase agreements are quite common among long time trading
partners. Some New Zealand exporters have taken products in trade when
dealing with cash poor countries such as the old Soviet bloc countries.
TYPES OF AVAILABLE EXPORT FINANCING AND INSURANCE: The U.S. Export
Import Bank standard policies apply to United States firms selling to
New Zealand entities. New Zealand exporters can utilize the services of
the New Zealand Export Guarantee Office for credit insurance along with
other insurance services covering invisible exports, tenders and
PROJECT FINANCING AVAILABLE (Including Lending From Multilateral
Institutions And Types of Projects): Project financing in New Zealand
has historically been offered by vendors as a part of the total project
package, or by merchant bankers as a member of a consortium project.
Multilateral institutions and development banks do not lend into New
Zealand since it is not considered a developing country by any standard.
LIST OF BANKS WITH CORRESPONDENT U.S. BANKING ARRANGEMENTS:
1. Bank of New Zealand NAB New York
2. Westpac Banking Corp Ltd Westpac New York
3. ANZ Banking Group (NZ) Ltd ANZ New York
4. National Bank of NZ Ltd Bank of America
5. ASB Bank Limited ABS New York
6. Country Wide Bank of New York
7. Trust Bank Citibank
8. Citibank N.A. Citibank N.A.
9. Bankers Trust (NZ) Ltd Bankers Trust
10. CS First Boston (NZ) Ltd CS First Boston
CHAPTER IX. BUSINESS TRAVEL
BUSINESS CUSTOMS: Business customs practiced in the United States will
transfer well in New Zealand. It is common practice to make and keep
appointments. Corporate officers to the most senior level are usually
reachable and open to business discussions.
TRAVEL ADVISORY SERVICES AND VISAS: Normal commercial travel agency
assistance is appropriate for travel and hotel arrangements while
traveling in New Zealand. The United States and New Zealand enjoy a
visa waiver pilot program allowing travel, without a visa, for stays up
to 90 days. For this program, possession of a return or onward ticket
is required. All visitors may apply for an extension of stay for up to
12 months. A valid passport with an expiration date at least three
months beyond the date of departure is also required. The program
allows for one to work but not get paid during the stay.
The Business Immigration Policy (BIP) focuses on selection of
appropriate people rather than evaluation of business proposals.
Applicants must demonstrate that they have the background, ability,
skills, and investment capital for their proposed business venture. For
longer stay, the New Zealand Embassy or Consulate should be contacted
for information pertaining to worker's and permanent residency permits.
JAN 2, 1995 JAN 1, 1996 New Year's Day Observed
JAN 3, 1995 JAN 2, 1996 New Year Holiday Observed
JAN 23, 1995 JAN 22, 1996 Wellington Anniversary
Day (Wellington only)
JAN 30, 1995 JAN 29, 1996 Auckland Anniversary Day
FEB 6, 1995 FEB 6, 1996 Waitangi Day
APR 14, 1995 APR 5, 1996 Good Friday
APR 17, 1995 APR 8, 1996 Easter Monday
APR 25, 1995 APR 25, 1996 ANZAC Day
JUN 5, 1995 JUN 3, 1996 Queen's Birthday
OCT 23, 1995 OCT 28, 1996 Labor Day
NOV 6, 1995 NOV 4 1996 Marlborough Anniversary
NOV 10, 1995 NOV 15, 1996 Canterbury Anniversary
DEC 25, 1995 DEC 25, 1996 Christmas Day Observed
DEC 26, 1995 DEC 26, 1996 Boxing Day Observed
BUSINESS INFRASTRUCTURE (Transportation, Language, Communications,
Housing, Health, Food): Travelling in New Zealand is as easy as
traveling in the U.S. Car transportation (rental, taxi, purchase) is
problem free, excluding the issue of driving on the left hand side of
the road. Airplane service is available between Wellington and Auckland
on a hourly basis with less frequent service to smaller towns.
ACCOMMODATIONS: Hotel and restaurants are abundant and for the most
part economically priced. Food and water are handled in a sanitary
manner. Wide choices of restaurants from fast food to upscale
environments and from American to Asian cuisine are readily available in
the urban centers. Hotel accommodation can be spartan in rural regions,
but upscale and mid-range accommodations are available in the
metropolitan areas. New Zealand is known for its designation sports
lodges and has a very wide network of Bed & Breakfast and Farmstay inns.
MEDICAL SERVICES: The New Zealand health system consists of public,
private and voluntary sectors that interact to provide and fund health
care. The public sector provides free treatment at hospitals for
emergency and major problems, including maternity and geriatric care and
free dental treatment for those under 18 years of age. Because public
hospital waiting lists have increased, there is greater interest in
private medical insurance. Therefore, private hospital care is becoming
a more important player in the system. It is recommended that coverage
is obtained before entering the country to ensure a safety net.
TELEPHONES AND FACSIMILE SERVICES: New Zealand's telephone line density
ratio is slightly over 49 lines per 100 people which is comparable to
the U.S. and European ratios. Its switch gear and line quality is more
than satisfactory for facsimile transmission. The country supports many
long distance billing services (Telecom, MCI, AT&T, Sprint, and more).
There are currently two cellular networks, BellSouth and Telecom.
Rental services are available on both for visitors.
CLIMATE: Weather is changeable, typically with short periods of a few
days of settled or unsettled weather. Due to the proximity to the
ocean, the climate is temperate. The seasons are reversed from the
northern hemisphere with summer weather during the November to March
period. Temperature extremes are mainly confined to places east of the
CHAPTER X. APPENDIX
POPULATION: 3,592,000 est. on March 31, 1995.
Average Age: 34.50 years
Under 15: 23.19 %
15-64: 65.12 %
Over 65: 11.69 %
North Island: 74.5 %
South Island: 25.5 %
The population of the larger urban regions in New Zealand are:
POPULATION GROWTH RATE: 1.42 percent for the year ending March 31,
RELIGIONS: Anglican: 22 %
Presbyterian: 16 %
Roman Catholic: 15 %
Others: 20 %
None: 20 %
GOVERNMENT SYSTEM: Parliamentary with no formal, written constitution.
Executive: The British Monarch, represented by a Governor General,
is the chief of state. The New Zealand Prime Minister is the head of
government and heads the cabinet.
Legislative: One-house Parliament.
Judicial: Three levels: District Courts, the High Court, and the
Court of Appeals, with further appeal possible to the Privy Council in
LANGUAGES: English and Maori. Literacy is 99 percent.
WORK WEEK: Monday-Friday, with some retail outlets open on Saturday
Sources: Statistics New Zealand and American Embassy projections
(in millions of U.S. Dollars unless noted)
YEAR ENDING MARCH 31, 1994 1995 1996
GDP in current USD 44,775 54,038 60,242
Real GDP Growth Rate, % change 4.9 5.6 2.7
GDP per Capita, current USD 12,642 15,044 16,536
Govt. Spending as % GDP, June years 36.3 34.7 34.5
Inflation: Consumer Price Index
percent change 1.3 4.0 2.4
Unemployment (percent) 9.1 6.6 6.0
Foreign Exchange Reserves 3,886 3,962 4,710
Average Exchange Rate
for Year (X = U.S. $1.00) 1.81 1.63 1.54
Foreign Debt 40,664 43,896 42,107
Debt Service Ratio: Principal &
Interest Payments/Foreign Income 47.7 42.4 38.7
NEW ZEALAND TRADE STATISTICS
(in millions of U.S. Dollars unless noted)
YEAR ENDING MARCH 31, 1994 1995 1996
Exports (F.O.B.) 10,882 12,873 13,670
Imports (C.I.F.) 10,007 12,694 14,090
U.S. exports to New Zealand (C.I.F) 1,809 2,384 2,500
U.S. imports from New Zealand
(F.O.B.) 1,235 1,398 1,495
U.S. Share of N.Z. imports (%) 18.1 18.8 17.7
NEW ZEALAND'S INTERNATIONAL INVESTMENT POSITION
Mar 90 Mar 91 Mar 92 Mar 93 Mar 94
FOREIGN INVESTMENT IN NEW ZEALAND
Equity 12,293 13,294 17,750 21,035 26,494
Net Borrowing 1,427 5,055 4,993 6,775 7,140
Borrowing 2,809 7,374 6,519 8,492 8,949
Lending (1,382) (2,318) (1,526) (1,716) (1,809)
Subtotal 13,720 18,349 22,743 27,810 33,634
Portfolio and Other Investment
Equity 1,561 1,766 850 2,483 1,532
Borrowing 45,202 48,242 50,964 51,166 54,185
Subtotal 46,763 50,008 51,814 53,649 55,717
TOTAL 60,484 68,357 74,558 81,460 89,350
NEW ZEALAND INVESTMENT ABROAD
Equity 7,585 13,108 14,323 14,246 14,680
Net Lending (1,936) (2,959) (2,817) (6,221) (5,205)
Lending 3,281 3,189 3,789 1,861 1,340
Borrowing (5,217) (6,148) (6,606) (8,083) (6,545)
Subtotal 5,649 10,149 11,506 8,025 9,475
Portfolio and Other Investment
Equity 248 461 918 1,138 1,848
Lending 3,247 3,680 4,069 3,592 5,873
Offl Resrve Assets 6,612 6,608 5,789 6,171 6,909
Subtotal 9,107 10,749 10,776 10,901 14,630
TOTAL 14,756 20,897 22,283 18,926 24,106
NET POSITION (45,728) (47,460) (52,274) (62,534)
Sources: Statistics New Zealand
FOREIGN DIRECT INVESTMENT FLOWS, NZD million
FDI into NZ, Year Ended March 31, 1992 1993 1994
EQUITY CAPITAL 1,795 1,953 1,821
from: U.K. 132 360 371
Australia 637 1,016 (208)
United States 507 (14) 954
Canada 85 334 393
Japan 50 36 20
Other European Union 19 (14) (32)
Other OECD (2) 2
Other Asia and Oceana 366 234 309
Latin America 1 10
UNREMITTED EARNINGS (Note I) 494 916 2,107
from: U.K. 301 6 395
Australia 72 534 400
United States 76 93 286
Canada (39) 20
Japan (73) (37) (10)
Other European Union (10) (73) 61
Other OECD 52 16 43 Other Asia and
Oceana 122 40 41
Latin America (5) 1 (3)
Other (3) 2
OTHER LONG TERM CAPITAL (Note I) (1,199) 924 346
from: U.K. 222 331 (446)
Australia (28) 851 110
United States (1,464) (205) (224)
Canada 8 (6)
Japan (6) (36) 5
Other European Union 12 3 810
Other OECD 14 (21) 7
Other Asia and Oceana 35 7 153
Latin America 10 (68)
SHORT TERM CAPITAL (Note I) 937 613 175
from: U.K. 106 (64) 45
Australia 199 725 334
United States 46 (36) (71)
Canada (15) (22) (182)
Japan 40 (8) 27
Other European Union 146 (4) (29)
Other OECD 17 (22) 4
Other Asia and Oceana 371 42 58
Latin America 32 (1) (6)
Other (6) 2 (4)
FDI into NZ, Year Ended March 31, 1992 1993 1994
TOTAL INVESTMENT CHANGE (Note I) 2,026 4,405 4,449
from: U.K. 761 634 364
Australia 879 3,127 636
United States (835) 161 945
Canada 39 305 231
Japan 11 (46) 42
Other European Union 167 (89) 809
Other OECD 81 (28) 56
Other Asia and Oceana 894 323 561
Latin America 37 (67)
Other (9) 3
EQUITY CAPITAL (Note I) 818 1,320 2,607
to: U.K. (126) 70 (168)
Australia 723 1,170 918
United States 73 1 (21)
Canada 146 2 2,351
Japan 1 3 3
Other European Union (5) 1
Other Asia and Oceana 8 (563) 83
Latin America (1) 635 (559)
UNREMITTED EARNINGS (Note I) (143) (204) 561
to: U.K. (7) (125) (62)
Australia (128) (11) 266
United States (82) (88) (38)
Canada (122) (309) (452)
Japan (2) 3 1
Other European Union (26) 101 10
Other Asia and Oceana 48 (210) 311
Latin America 177 (7) 24
Other 2 4
OTHER LONG TERM CAPITAL (Note I) (893) (2,802) 703
to: U.K. (11) 2 5
Australia (319) (1,028) 22
United States 12 (1) 2
Canada 6 (2) (1)
Other European Union 258 242 1,191
Other Asia and Oceana (1,444) (1,916) 71
Latin America 605 (101) (586)
SHORT TERM CAPITAL (Note I) 945 (408) (169)
to: U.K. (29) 11 (18)
Australia 30 (384) (55)
United States 39 (2) (15)
Canada 5 (10) (3)
Japan 4) 17 (39)
Other European Union 611 252 (293)
Other OECD 1 (1)
Other Asia and Oceana 8 (12) 231
Latin America 285 (279) 18
Other (2) (1) 8
TOTAL INVESTMENT CHANGE (Note I) 728 (2,093) 3,702
to: U.K. (174) (42) (244)
Australia 305 (253) 1,151
United States 42 (89) (73)
Canada 36 (318) 1,894
Japan (6) 24 (35)
Other European Union 838 596 907
Other OECD 1 (1)
Other Asia and Oceana (1,379) (2,701) 715
Latin America 1,067 248 (1,102)
Other (2) 2 12
Note I: Totals are later data than individual country data and
therefore differ from the sums of the country data. Individual country
data don't sum to the totals. Because individual private companies have
different "balance dates", a balance date adjustment has been made in
the "unremitted earnings" totals, and is reflected in "total investment
change". This adjustment has not been made for individual country data
so the "unremitted earnings" country figures do not sum to the
"unremitted earnings" totals.
Sources: Statistics New Zealand
U.S. AND NEW ZEALAND CONTACTS
NEW ZEALAND GOVERNMENT DEPARTMENTS, CORPORATIONS, AND STATE-OWNED
Agriculture and Fisheries, Ministry of
Ph: 64 (4) 472-0367; Fax: 64 (4) 472-9071/474-4244
Box 2526, Wellington.
Director-General: Dr. Russ Ballard
Airways Corporation of New Zealand
Ph: 64 (4) 471-1888; Fax: 64 (4) 471-0395
Box 294, Wellington.
CEO: P. Proulx
Civil Defence, Ministry of
Ph: 64 (4) 473 7363; Fax: 64 (4) 473-7369
Box 5010, Wellington.
Director: P.N. Officer
Coal Corporation of New Zealand Ltd
Ph: 64 (4) 474-3600; Fax: 64 (4) 474-3601
Box 439, Wellington.
Chief Executive: G. Kay
Ph: 64 (4) 471-0180; Fax: 64 (4) 471-0771
Box 2351, Wellington.
Chairman: Dr. S. Lojkine
Commerce, Ministry of
Ph: 64 (4) 472-0030; Fax: 64 (4) 473-4638
Box 1473, Wellington.
Secretary: John Belgrave
Ph: 64 (4) 473-6099; Fax: 64 (4) 473-7370
Box 2218, Wellington.
Comptroller: G. W. Ludlow
Defence, Ministry of
Ph: 64 (4) 496-0999; Fax: 64 (4) 496-0859
PO Box 5347, Wellington.
Secretary of Defense: Mr G. Hensley
Electricity Corporation of New Zealand
Ph: 64 (4) 472-3550; Fax: 64 (4) 473-3668
Box 930, Wellington.
Chief Executive: D. Frow
Health, Ministry of
Ph: 64 (4) 496-2000; Fax: 64 (4) 496-2340
Box 5013, Wellington.
Director-General: C. Lovelace
New Zealand Police (National Headquarters)
Ph: 64 (4) 474-9499; Fax: 64 (4) 474-9446
PO Box 3017, Wellington.
Commissioner: R.N. Macdonald
Statistics New Zealand
Ph: 64 (4) 495-4600; Fax: 64 (4) 472-9135
PO Box 2922, Wellington.
Government Statistician: L.W. Cook
NEW ZEALAND AGRICULTURAL COMMODITY BOARDS
Full Export Monopoly Boards:
Apple and Pear Marketing Board
Ph: 64 (4) 473-1420; Fax: 64 (4) 472-2980
PO Box 3328, Wellington
Chief Executive: Joe Pope
NZ Dairy Board
Ph: 64 (4) 471-8300; Fax: 64 (4) 472-3691
PO Box 417, Wellington
Chief Executive: Warren Larsen
NZ Kiwifruit Marketing Board
Ph: 64 (9) 366-1200; Fax: 64 (9) 366-1208
PO Box 9906, Auckland
Executive Director: Eric Henry
Non-Marketing Commodity Boards
NZ Meat Producers Board
Ph: 64 (4) 473-9150; Fax: 64 (4) 472-3172
PO Box 121, Wellington
Chief Executive: Warwick Bishop
NZ Wool Board
Ph: 64 (4) 472-6888; Fax: 64 (4) 473-7872
PO Box 3225, Wellington
Chief Executive: Grant Sinclair
Horticulture Export Authority
Ph: 64 (4) 471-0451; Fax: 64 (4) 471-2474
PO Box 1417, Wellington
General Manager: Sally Gardiner
NEW ZEALAND CHAMBERS OF COMMERCE
New Zealand Chamber of Commerce
Ph: 64 (4) 472-3376; Fax: 64 (4) 471-7161
Box 11-043, Manners Street, Wellington.
Chief Executive: Elizabeth Griffin
1. LIST OF AVAILABLE AND UPCOMING DOC/ISAS
Drugs & Pharmaceutical 8/89 9/95
Security Equipment 9/89
Plumbing Supplies 7/90
Franchising 7/90 8/96
Financial Services 9/91
Metalworking Machinery 9/91
Personal Computers 4/92 9/96
Computer Software 4/92 9/96
Food Processing & Packaging Equipment 9/92 11/95
Process Control and Instrumentation 12/92 10/95
Textile Fabric 4/93
Plastic Materials & Resins 4/93 4/96
Cosmetics and Toiletries 7/93
Fashion Apparel 7/93
Paper & Paperboard 11/93
Sporting Goods 2/94
Helicopters & Spare Parts 3/94
Automotive Parts & Accessories 7/94
Building Products 6/94
Medical Products (Surgical) 2/95
Pollution Control Equipment (Wastewater
Treatment Equipment) 3/95
Agricultural Chemicals (Plant Protection) 4/95
Forestry Equipment 7/95
Energy (Electricity Generation Equip) 7/95
Tools / hand power 12/95
Machine Tools 4/96
Electronic Components 6/96
2. LIST OF USDA/FAS/COMMODITY REPORTS AND MARKET BRIEFS
Annual Marketing Plan - Info Report Jul 15
Livestock Annual Aug 1
Deciduous Fruit Semi-Annual Sep 9
Agricultural Situation Sep 30
Forestry Annual Oct 1
Dairy Annual Nov 30
Deciduous Fruit Annual Dec 30
Kiwifruit Annual Jan 15
Livestock Semi-Annual Feb 1
Seeds Annual Apr 1
Dairy Semi-Annual May 15
3. FCS reports are available on the National Trade Data Bank.
FAS reports are available from Reports Office/USDA/FAS, Washington
TRADE EVENT SCHEDULE
1. MAJOR EXHIBITIONS - NEW ZEALAND PRIVATE SECTOR SPONSORED
SCT DATE EXHIBITION, LOCATION
GFT Oct 1-3 Christmas Stocking Fair '95, Auckland
FUR Oct 13-15 NZ Home Show '95, Christchurch
BUS Oct 31-Nov 2 Business World '95, Auckland
APS Nov 9-12 NZ Motorshow '95, Auckland
CPT Nov 24-26 NZ Home & Small Office Computer Show, Auckland
LGE Mar 5-7 Hort-Tech Expo '96, Auckland
GCG Mar 5-11 Otago House & Garden Show '96, Duendin
APP Mar 10-12 Fashion & Lifestyle Expo '96
GFT Mar 17-19 Autumn Gift Fair '96, Auckland
HTL Mar 17-18 Interhost - Foodservice '96, Christchurch
TRA Mar 22-24 Breakaway '96, Auckland
TRA Mar 29-31 Breakaway '96, Christchurch
CPT Apr 17-19 Computerworld Expo '96, Auckland
FUR May 3-5 Ideal Home Living '96, Auckland
GIE May 13-16 EMEX '96, Auckland
FUR May 21-27 NZ Home Interiors '96, Wellington
GFT May 24-26 Stitches & Craft '96, Auckland
PRT May 29-Jun 4 NZ Boat Show '96, Auckland
AGM Jun 12-15 NZ National Agricultural Fieldays '96, Hamilton
DRG Jun 15-17 Pharmacy '96, Auckland
FUR Jun 21-23 NZ Home Interiors '96, Christchurch
FUR Jul 9-15 Artex Auckland '96, Auckland
HCS TBA Health & Safety '96, TBA
TEL Aug TBA Communications '95
HTL Aug 11-13 Foodservice '96, Auckland
CPT Sep 3-5 Computerworld Expo '96, Wellington
GFT Sep 15-17 South Island Gift Fair '96, Christchurch
FUR Sep 18-22 Homeshow Auckland '96, Auckland
GFT Sep 29-Oct 1 Christmas Stocking Fair '96, Auckland
COS Oct 4-6 Beauty Hair & Health '96, Auckland
FPP Oct 8-10 Foodtech & Packaging '96, Auckland
FUR Oct 8-14 Homeshow Christchurch '96, Christchurch
APS Nov 6-10 NZ Motorshow '95, Auckland
CPT Nov 22-24 Soho Computer, Auckland
CPT TBA Soho Computer, Wellington or Christchurch
2. USDOC SPONSORED EVENTS
There are no approved or USDOC sponsored New Zealand trade shows for
For specific agricultural shows/exhibitions please contact FAS
Wellington, Fax: (64-4) 473-0772
To the top of this page