Employer Bulletin | 25 March

The New Zealand-European Union Free Trade Agreement (NZ-EU FTA) is expected to come into force months earlier than expected. Both parties are committed to completing the legislative process by the end of March, meaning the FTA is expected to begin on 1 May instead of July or August. Bringing the start date forward will have immediate savings for exporters sending products from 1 May onwards, including an expected $43 million in tariff savings for kiwifruit exporters, and a further $3 million of tariff savings for onion exporters. With the EU's ratification complete, the FTA is on track to double export value in 10 years, with benefits including tariff removal on most exports, contributing to a GDP boost of up to $1.4 billion annually, and fostering fairer market access.

In today’s Bulletin

• Government moves to quickly ratify the NZ-EU FTA.
• Spotlight on Building Consent Delays.
• First NZ ETS auction for 2024 partially clears. 
• Annual current account deficit $27.8 billion.
• GDP decreases 0.1 per cent in the December 2023 quarter.
• Positive progress for social worker workforce. 
• Six Employment Relations Authority cases and eight Bills open for submission.

If you have any questions, about this case or other employment relation matters, call the Advice Line team on 0800 800 362.

Ngā mihi
Your Business Central team