New Zealand’s Minister for Trade and Investment, Todd McClay, and Saudi Arabia’s Minister of Investment, Dr. Majid bin Abdullah Al-Kassabi, have signed a joint statement establishing the New Zealand–Saudi Arabia Business Council this week.
McClay highlighted the importance of the agreement, noting Saudi Arabia’s position as one of the world’s most dynamic economies.
“Worth nearly $3 trillion, Saudi Arabia is a top 20 export market for New Zealand. The establishment of this Business Council is an important step in strengthening trade and investment links between our two countries,” he said.
The minister underlined that the upcoming conclusion of the free trade agreement with the Gulf Cooperation Council (GCC) will unlock new opportunities, particularly in Saudi Arabia.
“The Business Council will ensure New Zealand companies are ready to seize those opportunities, while also boosting investment flows between our two economies,” McClay added, stressing that business councils are a proven way to build stronger commercial connections and support exporters.
According to McClay, the new council will play a vital role in promoting bilateral opportunities and helping New Zealand exporters expand into Saudi Arabia.
“A dedicated New Zealand–Saudi Arabia Business Council will raise awareness of opportunities, strengthen relationships, and help Kiwi firms do well in this growth market. It will play a key role in contributing to the government’s goal of doubling exports by value in 10 years,” he said.
McClay emphasized that trade supports jobs across New Zealand, and deeper export and investment ties with Saudi Arabia will mean “more opportunities, higher wages, and greater prosperity for all New Zealanders.”
