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Kiwi businesses positive on export chances

NZ NewswireNZ Newswire 3/11/2016

New Zealand businesses are Asia Pacific's most optimistic exporters, according to Grant Thornton's latest international business report.

The financial services firm consulted businesses in 37 countries for its report with New Zealand companies not only the most positive in the region about their export chances, but of any country surveyed since 2011.

The report found the number of New Zealand businesses with positive export expectations had more than doubled from 22 per cent in the second quarter of 2016 to 48 per per cent in quarter three.

Grant Thornton New Zealand partner Paul Kane said export hopes among businesses in Asia Pacific's developed nations were also higher than in any previous quarter of the report.

"Despite uncertainty across the wider global economy, these firms are looking overseas with enthusiasm," he said.

"It suggests a bounce in expectations since the Trans Pacific Partnership was signed in February, despite the threat of it stalling."

"These export figures also provide encouraging evidence that in many economies, reliance on China as a trading partner is reducing."

"China will undoubtedly remain an important export destination for many, but not to the same extent as in previous years."

The Trans Pacific Partnership is a proposed free trade agreement between New Zealand, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, the United States and Vietnam.

All 12 partner nations signed the TPP in February, but ratification by all of them is far from certain.

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