New Zealand, Singapore, the United Arab Emirates, and Switzerland have launched the Future of Investment and Trade (FIT) Partnership, a new international initiative designed to generate trade and investment opportunities while supporting economic growth.
The agreement was concluded in May during a quadrilateral meeting of trade ministers in Switzerland, following a year of discussions among the founding nations. The partnership has since expanded to include Brunei, Chile, Costa Rica, Iceland, Liechtenstein, Morocco, Norway, Panama, Paraguay, Rwanda, and Uruguay.
FIT Partnership Prioritises Practical Business Outcomes
Trade Minister Todd McClay said the group represents “a group of small and medium-sized, trade-dependent nations determined to take a proactive approach to opening markets, attracting investment, and removing barriers.”
“The focus will be on practical initiatives that make a real difference for businesses – strengthening supply chains, reducing non-tariff barriers, improving investment flows, and harnessing new trade technologies,” he added.
McClay noted that New Zealand’s participation as a founding member “will provide exporters and investors with more opportunities and stronger connections.”
Economic Benefits for New Zealand Exporters and Investors
“With one in four New Zealand jobs dependent on trade, it’s vital we are out hustling and shaping new opportunities,” McClay said. “This partnership will help ensure our companies are well placed to compete and succeed, and will contribute to the Government’s goal of doubling the value of exports in 10 years.”