International Business & Trade
According to Economic Development NZ’s Dr David Wilson, New Zealand can emerge relatively unscathed from the COVID-19 pandemic if businesses focus on being connected, responsive, adaptive and fleet-footed in a joined-up NZ Inc. approach. Dr Wilson’s advice is particularly relevant for the export realm. As one of only a small number of countries that responded quickly and successfully to the pandemic, financial services company Standard & Poors Global predicts New Zealand will suffer the least recessionary effects in the Asia Pacific region with a 2.7 per cent cost to its real GDP over the next two years, slightly less than
Geographically Sweden is one of the biggest countries in Europe with almost 100,000 lakes and over 200,000 islands, although less than 1000 of these are inhabited. Bordering Norway and Finland and connected to Denmark via a series of bridges, it sits at the centre of Scandinavia. The countries capital Stockholm encompasses 14 islands and more than 50 bridges offering a a vibrant culture of music, theatre, dance and film, like the other larger Swedish cities. Stockholm is also the location of the New Zealand embassy for the Nordic Region. The Swedish and Scandinavian approach to life is very similar to
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Since it was first established by Mike Moore as ‘TradeCom’ in 1986, New Zealand Trade & Enterprise (NZTE) has played a vital part in the quadrupling of New Zealand’s export trade (from 1986’s $21bn to 2019’s $83.6bn) and in the post-COVID-19 world, NZTE is poised to play an even more critically important role. According to NZTE’s mission statement their purpose is to ‘grow a productive, sustainable and inclusive New Zealand driven by exports and supported by quality investment’ all of which have taken on new urgency after what we knew as ‘business as usual’ has been turned on its head.
2020 will enter the textbooks for the size of its global downturn. The spread of the coronavirus across many countries prompted governments to introduce lockdown measures to contain the epidemic. These mobility restrictions and business shutdowns led to financial market turmoil, an erosion of confidence and heighted uncertainty. These factors combine to create the worst possible mix: global negative supply shock (less production) coupled with a global negative demand shock (less investment and consumption) especially in the first quarter of 2020. According to the most recent forecast by the International Monetary Fund (IMF) released in April 2020, the economic effects