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Speaker 1: Great news for key exporters. This morning, we've signed an

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Speaker 1: FTA with the six nation Golf Cooperation Council, that's the saudiast, UAE, Q, eight, Bahrain,

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Speaker 1: Qatar and Aman. Together they will become our seventh largest

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Speaker 1: export destination by value. As a result of this exchange,

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Speaker 1: largely dairy and meat exports will benefit. Charles Finni is

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Speaker 1: a former New Zealand trade negotiator. He's with us this morning.

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Speaker 1: By the way, duty free access for ninety nine percent

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Speaker 1: of our exports over ten years. This when combined with

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Speaker 1: the recent deal we did with the UAE. We're going

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Speaker 1: to Charles Finny now, who is with us live. Charles,

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Speaker 1: Good morning, Good morning Ryan. Is this a good deal?

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Speaker 2: Yeah, I think it's very good. Obviously we haven't seen

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Speaker 2: the full detail yet, but as you've just been saying,

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Speaker 2: ninety nine percent of our exports free of duty within

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Speaker 2: ten years and about fifty percent if you combine this

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Speaker 2: with the UAE deal it was pronounced recently, we will

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Speaker 2: be free within a year. So that's really good news.

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Speaker 2: I suspect, as you say, meat and dairy will be

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Speaker 2: the initial beneficiaries, but it'll be wider benefits and also

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Speaker 2: good news. I think cross services exporters too.

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Speaker 1: You took some of our exporters they say, actually, Paris

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Speaker 1: are pretty low here, roughly five percent. Is it going

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Speaker 1: to be It's not going to be a big game

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Speaker 1: changer like a China FTA.

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Speaker 2: Oh no, it's not. But I think it does increase

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Speaker 2: certainty and allow people to look again and in more

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Speaker 2: detail at this market. I think the timing couldn't be better.

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Speaker 2: We've got some slowing of the Chinese economy, some slight

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Speaker 2: reduction in export demand there, and we've got real uncertainty

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Speaker 2: being caused by the US presidential election. Whoever wins. It's

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Speaker 2: going to be more difficult I think for New Zealand

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Speaker 2: exporters going to that market, and there'll be some other

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Speaker 2: implications around the world. So you're having a market as

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Speaker 2: big as the GCC, I think, particularly for meat exporters

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Speaker 2: without duty, this is going to be really powerful.

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Speaker 1: How much of the hold up over this, because obviously

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Speaker 1: McLay has been instrumental in getting this deal over the line.

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Speaker 1: How much of the hold up was to do with

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Speaker 1: that whole Saudi live meat export saga.

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Speaker 2: Well, obviously that was a complication early on. It's fantastic,

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Speaker 2: that's behind us, and well done, top of the clay

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Speaker 2: for putting it behind us.

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Speaker 1: Yeah, yeah, goodbye, and we won't miss you. You mentioned

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Speaker 1: the need to put our eggs into lots of different baskets.

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Speaker 1: Are we doing enough of that?

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Speaker 2: I think in general yes, but there are some product

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Speaker 2: areas where we're still very heavily dependent on one market.

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Speaker 2: I think for a whole range of reasons, not just politics.

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Speaker 2: It's very wise to have a range of options available,

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Speaker 2: and this free trade agreement is just another new opportunity

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Speaker 2: we've done the UK and EU in recent times. Had

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Speaker 2: the UAE deal now GCC added to our existing network,

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Speaker 2: we're in a very powerful position and that we need

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Speaker 2: to have this flexibility available to us because of the

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Speaker 2: global uncertainty that is inevitable after the election in the US.

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Speaker 1: Well that's that the do you worry FTAs are going

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Speaker 1: out of fashion, you know, as these protectionist policies come

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Speaker 1: in from more protectionists leaders, prime ministers and presidents around

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Speaker 1: the world.

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Speaker 2: I think the real threat is at a global level,

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Speaker 2: and so there is a willingness by some of the

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Speaker 2: major players to ignore global trade rules set in the WT.

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Speaker 2: But the good news is that we're still seeing a

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Speaker 2: good number of free trade agreements are being negotiated, and

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Speaker 2: I think that whoever wins in November and States is

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Speaker 2: going to cause uncertainty which will increase interest in agreements

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Speaker 2: such as CPTPP, and I think a lot of countries

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Speaker 2: will look at a deal we're just done with GCC

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Speaker 2: and be encouraged to negotiate also with the dcccers. Clearly

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Speaker 2: they are able to negotiate higher quality agreements than people thought,

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Speaker 2: particularly around agriculture.

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Speaker 1: Interesting take. Thank you very much for that, Charles Charles Funny,

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Speaker 1: former New Zealand trade negotiator, on the program.

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Speaker 2: For more from earlier edition with Ryan Bridge. Listen live

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Speaker 2: to News Talks.

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Speaker 1: It'd be from five am weekdays, or follow the podcast

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Speaker 1: on iHeartRadio