With the WTO Director General Ngozi Okonjo-Iweala present, trade ministers argued to reinvigorate and reform the WTO, bring into force a fully functioning dispute resolutions system, and recognise the importance of sustainability and inclusion in trade. A key focus of the Ministerial meeting was how APEC could support the multilateral trading system, with the WTO at its core.
The general theme for the US’ host year is on sustainability and inclusion. Asia Pacific Economic Cooperation (APEC) Trade Ministers met on 25-26 May in Detroit, USA.The New Zealand screen sector contributes more than $3.5 billion to the New Zealand economy annually and employs over 13,900 people. The changes will allow all domestic productions to access the Grant as well as other funding from NZ On Air Te Mangai Paho and New Zealand Film Commission, provide a 20% rebate for post-production, digital and visual effects and reduce the qualifying expenditure amount to $250,000. Funding changes to the New Zealand Screen Production Grant (external link) announced on 30 May will make it easier for the screen sector to access support.
The final deal suspends the debt limit until 2025 and follows weeks of negotiations between Democrat and Republican leaders, with the legislation signed into force just two days before the date when the US Treasury had indicated the US would begin to default on its obligations.
The New Zealand-United Kingdom Free Trade Agreement entered into force on Wednesday 31 May, unlocking opportunities in a crucial market for some of our key exports, with one of the best market access packages New Zealand has secured in any trade deal.If you would like to subscribe to this weekly update, go to our subscription page (external link) or email us at Highlights We welcome feedback from New Zealand exporters on this report and invite requests for reporting from New Zealand’s network of Embassies and High Commissions.
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