Key Insights from the March 2025 Export Breakfast

On Wednesday, March 19, 2025, Business Canterbury hosted an Export Breakfast featuring key industry leaders: Kelly Eckhold, Chief Economist at Westpac, Iain McMillan, CEO of Enztec, and Rhianon Berry, Customer Director at NZTE. The event focused on the evolving landscape of global trade and highlighted strategies for New Zealand businesses to navigate current uncertainties and seize opportunities for growth in international markets.

Key Discussion Points

1. Global Trade Uncertainty Kelly Eckhold kicked off the breakfast by discussing the growing global trade uncertainty, particularly around US trade policies. Trade restrictions are increasing, and New Zealand exporters need to prepare for potential tariffs, especially from the US, which is targeting its largest trading partners like China, Canada, and Mexico. While New Zealand enjoys a trade surplus with the US, Eckhold emphasized the importance of staying alert to the evolving trade dynamics.

2. Opportunities in Latin America Rhianon Berry highlighted the significant opportunities in Latin America, a region offering strong potential for New Zealand businesses, especially in agribusiness, energy, resources, and technology sectors. With Brazil, Mexico, and Chile leading the charge, New Zealand has the opportunity to capitalize on its reputation for high-quality food production and farming expertise, particularly in the context of Latin America's demand for agricultural solutions.

Berry also pointed out the economic growth in Latin America, including Mexico’s rise as the US's largest trading partner and the continued expansion of data centre investments across the region. She encouraged businesses to explore the Latin American market, noting that free trade agreements, such as those with Chile, Peru, and Mexico, provide a strong foundation for New Zealand exporters.

3. Embracing Regulatory Compliance as a Competitive Advantage Iain McMillan shared valuable insights from Enztec's experience in the US market, highlighting how embracing regulation can become a competitive advantage. Rather than viewing complex regulatory frameworks as barriers, McMillan noted that businesses can leverage them to differentiate themselves in international markets.

His advice included focusing on digital marketing, particularly LinkedIn, as an essential tool for driving business engagement. He emphasized that a strong online presence, along with regular content posting, helps New Zealand businesses gain visibility and build relationships with international customers.

4. Exchange Rate as a Buffer Eckhold also discussed the impact of exchange rate fluctuations on New Zealand exports, noting that while the current exchange rate provides a buffer against downside risks, businesses should consider hedging strategies to manage potential volatility.

Actionable Steps for Local Exporters

The speakers provided practical recommendations for New Zealand businesses looking to navigate global trade uncertainties:

• Prepare for Potential Tariffs: Start planning for the possibility of US tariffs and restrictions.
• Hedge Against Exchange Rate Risks: Consider strategies to mitigate exchange rate volatility.
• Evaluate Supply Chains: Assess supply chains to reduce the impact of trade restrictions.
• Explore Opportunities in Latin America: Look into key sectors such as agribusiness, energy, and technology.
• Enter the NZ International Business Awards: Opening in May, the awards offer an opportunity to gain recognition on the global stage.
• Attend the Export Road Show: Business Canterbury's Export Road Show on April 2 is a valuable networking and learning opportunity.

Looking Ahead

As New Zealand’s export sector reaches new heights, with exports reaching $100 billion in revenue for the first time, the Export Breakfast highlighted both challenges and opportunities in international markets. The insights shared by industry experts provided attendees with a roadmap to successfully navigate the current trade environment, with a strong focus on digital marketing, regulatory navigation, and exploring emerging markets like Latin America.

The next Export Breakfast will be held on June 5, 2025, at the Christchurch Town Hall. In the meantime, businesses are encouraged to continue strengthening their international strategies and take advantage of the support available through NZTE.