GCC trade agreement positive for red meat sector
The deal eliminates tariffs on red meat exports to a range of countries including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE within 10 years.
In the year to September, New Zealand’s red meat exports to this region were worth $245 million, with current tariff costs of $7.5 million.
Kate Acland, Chair of Beef + Lamb New Zealand (B+LNZ), said the region is a high-value market so improving access for farmers’ products is great news.
"The GCC is forecast to be one of the fastest-growing regions for beef and sheepmeat consumption due to its population growth, rising incomes, and rapidly developing tourism sector.
"This agreement comes hard on the heels of a trade deal with the UAE. Trade is the life blood of our sector and any move to make it easier to export is welcome".
Nathan Guy, Independent Chair of the Meat Industry Association (MIA) said exporters will be delighted.
"The GCC is one of our largest halal markets and the agreement provides new avenues for growth and cooperation.
"New Zealand has an internationally-recognised halal system that adds tremendous value. Halal certified exports account for almost $4 billion annually.
"This deal also provides New Zealand with a competitive advantage as no other major red meat exporters to the GCC have secured such an agreement.
"This agreement has been talked about for over a decade and we knowledge Minister McClay and his officials for their hard work and perseverance to get this deal across the line".
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