A delegation of over 90 business leaders from New Zealand, representing over 60 leading New Zealand companies, will discuss the growth and economic modernisation in the region during its visit to Bahrain today (April 26).

The largest ever business delegation to visit the Middle East from New Zealand, led by Tim Groser, New Zealand Minister of Trade, will also aim to reinforce and expand trade relationships between the two countries.

According to New Zealand Trade and Enterprise, the government’s economic development agency, the GCC as a whole is an increasingly important contributor to New Zealand’s economic prosperity.

Trade between New Zealand and the GCC totalled over $2.1 billion last year - a 40 per cent increase since 2000 - making the GCC New Zealand’s sixth largest bilateral trading partner.

As one of the most mature and well-established business hubs in the Gulf region, Bahrain has been a market of significance to New Zealand for many years. Bilateral trade between New Zealand and Bahrain totalled over $57 million last year, a 170 per cent increase since 2007.

New Zealand exported goods worth $47 million to Bahrain last year and exports from Bahrain to New Zealand were valued at $10 million – representing increases of 250 per cent and 33 per cent respectively compared to 2007 figures.

In addition, the two nations have developed significant trade in services over recent years.

“Bahrain has long been recognised as an important business hub for New Zealand, with a well developed regulatory environment that is supportive of business growth,” said Groser.

“This is a unique chance for New Zealand business leaders to demonstrate to local partners here the breadth of expertise that we can offer and to expand the existing economic relationships within Bahrain, leading to a stronger and more diversified presence in both markets,” he added.

The Minister of Trade and the business delegation from New Zealand will begin their GCC visit in Saudi Arabia before continuing to Bahrain, and will complete the tour with visits to Kuwait, Abu Dhabi and Dubai in the UAE. – TradeArabia News Service