Source: New Zealand Government
Minister for Trade and Investment Todd McClay has met with His Excellency Khalid bin Abdulaziz Al-Falih, Saudi Arabia’s Minister of Investment, to progress opportunities for deeper investment links between the two countries.
“Saudi Arabia is set to be the world’s sixth largest economy by 2050, with an ambitious reform agenda under Vision 2030. New Zealand is well placed to contribute to this transformation and to attract Saudi investment into high-growth sectors across our economy,” Mr McClay says.
The meeting builds on the conclusion of the New Zealand–Gulf Cooperation Council Free Trade Agreement last year and the growing commitment to enhanced trade and investment cooperation.
Discussions focused on creating opportunities for both counties through increased investment ties.
Minister McClay highlighted New Zealand’s priority growth sectors – including renewable energy, cleantech, advanced food production, wood processing, aquaculture, advanced transportation, and tourism.
Both Ministers also agreed to establish a Cooperation Framework Agreement between Saudi Arabia’s Ministry of Investment and New Zealand’s Invest NZ.
“This agreement will provide a formal platform to identify and advance investment opportunities, strengthen institutional links, and ensure closer collaboration between the two countries’ investment agencies,” Mr McClay says.
“I was honoured to meet His Excellency again following my visit to the Kingdom last month. I have invited him to visit New Zealand with a delegation to see first-hand the investment opportunities our country offers.”
The Government is making it easier for foreign investors to do business in New Zealand, through streamlined investment settings and stronger commercial engagement.
“If it is good for New Zealand and good for New Zealanders, we will be saying yes to investment. Stronger trade and investment ties create jobs, lift regional economies, and deliver better opportunities for every New Zealander,” Mr McClay says.
