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The Primary Sector's Role in New Zealand's Economy and Trade

2024-07-24 18:21:56.203000

In an opinion piece published in the New Zealand Herald, Todd McClay highlights the crucial role of the primary sector, including farmers and foresters, in New Zealand's economy [2dee9929]. McClay emphasizes that the primary sector is the backbone of the economy, driving job creation, supporting rural communities, and generating substantial export revenue. He mentions that the sector sets the standard for other countries in terms of quality and sustainability.

The government aims to double the value of New Zealand's exports in 10 years by promoting growth through innovation and new technology, reducing trade barriers, and delivering high-quality trade deals. McClay mentions the recently signed Indo-Pacific Economic Framework (IPEF) agreements as a boost to trade and investment. He also highlights the government's focus on addressing non-tariff barriers, strengthening research and development, and reducing farm emissions without harming the economy. The ultimate goal is to achieve higher wages and a better standard of living for all New Zealanders [2dee9929].

This opinion piece by Todd McClay sheds light on the significant role of the primary sector in New Zealand's economy. The sector not only drives job creation and supports rural communities but also generates substantial export revenue. McClay emphasizes that the primary sector sets the standard for quality and sustainability, making it a crucial part of New Zealand's trade. The government's goal of doubling the value of exports in 10 years aligns with the focus on promoting growth through innovation and reducing trade barriers. The recently signed IPEF agreements are expected to further boost trade and investment. Addressing non-tariff barriers, strengthening research and development, and reducing farm emissions without harming the economy are additional priorities. Ultimately, the aim is to improve wages and the standard of living for all New Zealanders [2dee9929].

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