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The world’s first trade agreement for indigenous people is being led by Aotearoa New Zealand, with Northland’s Pita Tipene as co-chairman.

The Indigenous Peoples Economic and Trade Co-operation Arrangement (Ipetca) aims to strengthen indigenous businesses, increase trade between indigenous people and promote indigenous values like sustainable economic development.

The genesis came in 2021, when New Zealand hosted the Asia-Pacific Economic Cooperation forum (Apec), Tipene said.

Despite the forum being held virtually due to Covid lockdowns, New Zealand wanted to showcase its partnership between Māori and the Crown, as well as support indigenous people coming together.

The arrangement was promoted by then-Prime Minister Jacinda Ardern, Foreign Affairs Minister Nanaia Mahuta and Trade Minister Damien O’Connor, but continues to be supported by the coalition Government, he said.

Tipene and Federation of Māori Authorities leader Traci Houpapa are the Indigenous co-chairmen, while the Ministry of Foreign Affairs and Trade’s Māne Waetford represents the Government as co-chairman.

With New Zealand leading the arrangement, Canada, Australia and Taiwan have joined as founding members, Tipene said.

The United States now has observer status, while Chile, Peru, Mexico and Hawaii have shown interest in joining.

Some other Governments are loathe to join the agreement, due to contentious arrangements with their own Indigenous people, Tipene said.

But he was able to witness the trailblazing nature of Ipetca firsthand last month, with a face-to-face forum in Vancouver.

“It was the first time that Canadian Indigenous people had met with Indigenous people from the US, which was really surprising because they are only just across the border: It was really, really important.”

The Vancouver meeting was immediately followed by a meeting in Washington DC.

Tipene, who is a Ngāti Hine leader and chairman of the Waitangi National Trust, was able to meet with leaders such as US ambassador to Canada David Cohen, Hawaii senior senator and Senate Committee on Indian Affairs chairman Brian Schatz, US treasurer and Mohegan chief Lynn Malerba - also known as Chief Mutáwi Mutáhash or “Many Hearts” - and Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng.

New Zealand leading the way with Indigenous relations

Traci Houpapa believed New Zealand was the only country capable of leading Ipetca, because it had a unique, treaty-based partnership between its indigenous people and Government - Te Tiriti o Waitangi.

“Aotearoa New Zealand has succeeded, and will continue to succeed, on the world stage because Te Tiriti o Waitangi provides us with a partnership framework which ensures that people are recognised and mana whenua are supported alongside government to deliver what is best for our country.

“I think the fact that some people are only just starting to understand the benefit or importance of the treaty is, in part, disappointing but, in whole, an opportunity to do better.”

The need for Ipetca was shown by the size of the indigenous economy, which covers 476 million people - 70% of whom live in Asia-Pacific, Houpapa said.

In New Zealand, Māori have previously been viewed as a drain on the economy but are now being recognised as industry leaders, she said.

“Māori tribal groups or land corporations and trusts own 50% of fisheries, 40% of forestry, 35% of red meat and dairy, 30% of lamb and 10% of renewable energy - the numbers in itself show Māori economic development and turnover are critical for Aotearoa.”

Alongside this, customers are starting to demand more sustainable and ethical business practices and this is also key for Indigenous people, Houpapa said.

IPETCA now has a work plan to ensure it continues moving forward, with virtual meetings every two months, to bring results to the people, Tipene said.

“It’s really got to matter for the people back in the valleys - if it doesn’t, we’re really not doing our job.”

Tipene will travel to Taipei next month to meet with Taiwanese leaders, and Ipetca would next meet in person in August during the Apec forum in Peru.

Source: Northern Advocate

It’s an incredibly special day for the team at Florenz.

The largest seller of New Zealand sourced and manufactured Manuka honey products in North America has come home and into our ownership.

TheWedderspoongroup was founded 24 years ago, and its products range from Manuka honey to Manuka honey lozenges, drops and lip balm as well as Bee Propolis throat sprays. Its products are stocked in more than 23,000 stores in the United States and Canada ranging fromCostco WholesaletoWalmart,CVS PharmacyandWhole Foods Market. The firm also has a growing footprint in Asia, Central America and Europe.

Wedderspoonjoins our growing stable of New Zealand wellness companies, including Christchurch-based vitamins and supplements exporterXtendlife Group Limited, Blenheim-based ingredients manufacturer Dry Food New Zealand and innovative blackcurrant-based sports performance supplement exporter2before Performance Nutrition, which was purchased from Government-owned Plant and Food Research. Florenz is also a cornerstone shareholder of iconic New Zealand herbal remedies companyHarker Herbals, which was established more than 40-years ago.

There is burgeoning global demand for natural health products backed by science from trusted brands and countries with first class reputations, such as New Zealand.

Brand New Zealand has never been stronger overseas and consumers globally are rapidly moving away from synthetic health products to support their wellbeing. Our nation has some of the best natural ingredients in the world and access to incredible other ingredients offshore. Put alongside that our nation’s cutting-edge science capabilities, and we can curate here in New Zealand products that make a positive impact on wellbeing globally.

A huge thank you to our parent company Christchurch-based Masthead Ltd for its ongoing support of Florenz as our team continues to build a world-class export business that Kiwis can be proud of.

Mike Tod, CEO

Driving further global growth with a strong foothold across Asia Pacific

Sydney, Australia, 02 July 2024 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, is pleased to announce the opening of its office in Sydney, Australia with Beau Dixon accepting an offer to lead Australia and New Zealand, to further establish its presence in the region. With offices in India, China and now Australia, Advent continues to build out its capabilities across the Asia Pacific region.

Mr Dixon, a highly experienced private equity professional with over 18 years of experience in the Australian and New Zealand markets, will join as Managing Director and head of Advent in Australia and New Zealand. Mr Dixon, who most recently was a Managing Partner at Anchorage Capital Partners and a member of the Investment Committee, has a strong investment track record and sound operational and board experience with portfolio companies. He will be responsible for leading a high calibre team to ensure that Advent can deploy its investment philosophy in Australia and New Zealand. This is with the aim of investing in leading companies that operate in Advent’s core sectors, including business and financial services; healthcare; industrial; retail, consumer, and leisure; and technology.

Australia and New Zealand are key markets for growth, with significant opportunities for private capital to be deployed in high quality companies with strong investment potential. Establishing a presence in the Australian and New Zealand markets is part of Advent’s continued global growth, and further enhances its presence in the attractive Asia Pacific region. This also builds on Advent’s experience in the Australian and New Zealand markets with investments including luxury fashion brand ZIMMERMANN, Transaction Services Group (now part of Xplor Technologies), a leading provider of business management software and integrated payments solutions to the Health & Fitness and Childcare verticals, and Cobham and Ultra Electronics, two leading defence, aerospace and technology companies, with past and present operations in Australia.

Shweta Jalan, Managing Partner at Advent International, said, “We are pleased to welcome Beau Dixon as Managing Director and head of Advent in Australia and New Zealand. Establishing a presence in Australia and New Zealand will support our continued growth in the Asia Pacific region, where we are already well-established in India and China. As a global private equity firm with a strong investment track record, we apply both in-market and sector experience to unlock local opportunities at scale and build businesses. We are thrilled at the opportunity to bring our world-class model to our current and future investments across Australia, New Zealand and beyond.”

Beau Dixon said, “I look forward to joining one of the leading global private equity investors and working closely with the Advent team to build out our presence in Australia and New Zealand. Advent has excellent global experience and sub-sector specialisation, which will add further depth and sophistication to the local market. Together, we will look to invest and build forward-looking businesses and drive sustainable growth.”

Prime Minister Christopher Luxon will visit the United States from 9-12 July.

Mr Luxon will begin his visit by building New Zealand’s profile with politicians in Washington DC, meeting members of the US Administration and of Congress.

“The United States is the world’s largest economy and our second biggest trading partner. It plays a leading role in world affairs. It is imperative that we have good relationships with key American decision-makers, so they understand what New Zealand is trying to achieve in the world,” Mr Luxon says.

In Washington DC, the Prime Minister will also participate in the NATO Summit, an alliance of 32 North Atlantic countries that share our commitment to democratic values and to peace. He will also meet bilaterally with a range of NATO Leaders.

“Prosperity is only possible with security, with our discussions set to focus on our collective efforts to support the rules-based system”, Mr Luxon says.

“At NATO, counterparts from Australia, Japan and Korea will join me in a meeting of the Indo-Pacific Four.”  

This is the third Summit in a row to which NATO has invited its four Indo-Pacific partners to discuss shared challenges.

The Prime Minister will use his time in the United States to expand New Zealand’s profile as a country with which to do business. He will visit San Francisco where he will drive greater investment links between New Zealand and the United States.

“If it were a country on its own, California would be the fifth biggest economy in the world, ranked between Japan and India,” Mr Luxon says. 

"I look forward to building our positive relationship with this great State, and to forging stronger links with its businesses and investors as part of our wider plan to rebuild New Zealand’s economy.”

Source: https://www.beehive.govt.nz/

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By RNZ

New Zealand sheep milk company Spring Sheep is vying for a slice of the US cheese market.

Chief executive Nick Hammond is at the Fancy Food Show in New York pushing the company’s products.

“We’re selling three styles - we have a pecorino, which is a harder cheese; we’ve also got aristee, which is a medium cheese; and then our new New Zealand version of a havarti, which is a really soft, buttery cheese.”

Hammond said the response to the grass-fed range in the US has been phenomenal.

“We feel the New Zealand brand resonates really well with consumers up here. The grass-fed system has also put us at a really high pedestal - it’s even considered higher than organic in terms of quality.”

Getting into the US market is a huge opportunity for the company because the market was developed and growing, he said.

“It’s far bigger than people would realise. The USA imports around 25-30 million kilos of premium sheep cheese annually. That’s a market that’s very stable and and growing.

It’s also not being particularly well-serviced by Europe - they have struggled to keep up with sheep milk volumes - so there’s a really amazing opportunity for us to come in here and build a major growth platform.”

Hammond said the first commercial volumes of New Zealand produced sheep milk cheese will go into US speciality stores later in the year.

- RNZ

Today, we at Yonder are thrilled to announce our official acquisition by TOMIS, a leading technology company dedicated to building cutting-edge customer experience and communication software for tour operators. Based in Montana, USA, TOMIS’ products are a natural fit with Yonder, providing innovative, data-driven marketing solutions and exceptional customer experiences for tour operators around the globe.

Individually, both Yonder and TOMIS have saved tour operators thousands of hours, generated millions in revenue for clients, and pushed the travel industry forward at every opportunity. We've navigated the ever-evolving landscape of conversational AI and created products to simplify and streamline all aspects of the customer journey for our clients. 

‍Together, we know we’ll only make each other better.

‍Commitment to Customer Success

“We are excited to welcome Yonder into the TOMIS ecosystem,” said Evan Tipton, CEO of TOMIS. “This acquisition allows us to combine our strengths and deliver even greater value to our customers. With Yonder’s innovative technology and our industry expertise, we are well-positioned to support the growth and success of tour operators globally.”

‍Letitia Stevenson added, “With TOMIS’ support, we’re excited to take our innovative solutions to the next level and help more tour operators achieve their goals.”

‍For now, both businesses will operate as usual, ensuring tour operators don’t experience any disruptions. TOMIS and Yonder will continue to operate as standalone brands, ensuring continuity and stability for existing customers while benefiting from our shared resources and industry expertise.

‍Looking Ahead

The union of TOMIS and Yonder promises to deliver enhanced solutions and greater value to our customers. By integrating our strengths, we’re set to push the boundaries of what’s possible in the tourism technology sector. We’re deeply committed to listening to our customers and incorporating your feedback into future product developments. We encourage you to share your ideas, feature requests, and feedback to help shape the future of our offerings.

‍As we embark on this new journey together with TOMIS, the future looks brighter than ever for tour operators seeking innovative solutions to drive their success. Stay tuned for more updates as this dynamic partnership evolves and continues to make waves in the tourism industry.

‍Thank you for being a part of our community and for your continued support!

Source: https://www.yonderhq.com/

A-listers Sarah Jessica Parker and Graham Norton stopped by the Big Apple for a blending session with Kiwi winemakers, spending “hours” tasting New Zealand varieties.

This week, iconic Kiwi wine brand Invivo rounded up its stars Graham Norton and Sarah Jessica Parker in New York City for their latest blending sessions.

Invivo’s founders Tim Lightbourne and Rob Cameron took the best New Zealand grapes to New York to present to Parker and Norton, who have total control of the blending for their brands X SJP and GN for Invivo.

“With both Graham and Sarah Jessica, we spent hours tasting and discussing the latest sauvignon blanc vintage from New Zealand, sampling selections from both Hawke’s Bay and Marlborough,” Lightbourne tells Spy.

“Both of them expressed a strong interest in visiting New Zealand, so stay tuned for a potential upcoming trip!”

The brand, always trying to outdo itself in publicity stunts, last year creating the world’s first winery airline, which saw guests board an Invivo Air Saab 340 plane and enjoy a guided eight-step wine-tasting at 18,000 feet.

The boys, along with Parker, a New York native and star of And Just Like That and Sex And The City, commandeered the world-famous Mets baseball team’s famous Citi Field Stadium in Queens.

“The Mets loved the idea of the innovative use of their stadium, and Sarah Jessica and husband Matthew Broderick are renowned fans of the team,” Lightbourne tells Spy.

“The Mets had never done anything like it and we secured the stadium for private use.”

Parker and the Invivo boys blended their new vintage of X SJP right on the field at second base in the iconic stadium and took over the largest screen in baseball.

“We had the team’s mascot Mrs Met along for the ride, and Rob and I even had the chance to play on the iconic Mets field, borrowing a bat from marquee star Pete Alonso,” says Lightbourne.

They then hosted key customers, who have collectively purchased millions of bottles, and leading US media in the press room for an interview with Lightbourne, Cameron and Parker, and a tasting of the wine that was just blended on the field.

The publicity is working; after five years with Parker, Lightbourne says Invivo X SJP sauvignon blanc is currently the fastest-growing luxury sauvignon blanc in the US.

For the famous UK talk show host Graham Norton, a more refined location was chosen by Lightbourne and Cameron for their meet-and-blend.

“We met Graham to blend the 11th vintage of his sauvignon blanc together at the five-star Elm Suite at 1 Hotel Central Park, New York - with sweeping views of Central Park and the amazing Big Apple skyline.

“We had Invivo’s close friend, America’s Next Top Model judge Nigel Barker, shoot the blending and publicity shots.”

Again, publicity gold. Lightbourne says this year, their 11th with Norton, will see them reach production and sales of over 20 million Graham Norton bottles.

Source: https://www.nzherald.co.nz/

The newly-knighted Rocket Lab founder and CEO isn’t making anyone call him Sir Peter Beck.

“It’s just Pete,” he told The Front Page - ahead of his company’s 50th launch.

Not only is it a major milestone for Rocket Lab - but it will be the fastest any other company in history has reached 50 launches.

The “No Time Toulouse” mission is scheduled to launch from Rocket Lab Launch Complex 1 in Mahia during a 14-day launch window that opens today. It is the first of five dedicated launches to deploy a 25-satellite constellation for French Internet-of-Things company, Kinéis.

“I think it’s quite significant. Everybody sees the rocket, but I guess what is less obvious is all of the infrastructure and everything behind it. It’s well understood that your first rocket is really, really hard. Your 20th rocket is 20 times harder than your first rocket because you have to be in full production at that point,” Beck said.

“So, reaching a milestone of 50 flights, not many rockets have launched as many as 50 times let alone to do it the fastest. I think it’s a real testament to the team and the company.”

According to Deloitte, in 2018 and 2019 New Zealand’s space industry contributed $1.7 billion to the economy. Space Minister Judith Collins told The Front Page our people, innovators, and creators in the sector are very well-respected.

And Beck agreed, saying there are some great start-ups in New Zealand and real potential for the sector here.

“New Zealanders are incredibly smart people, very innovative, and they have the ability to move across multiple functions and disciplines, which is really important in the space industry.”

In recent years, some of the world’s richest men have been investing in space - like Jeff Bezos, Elon Musk, Richard Branson.

“We often joke our two biggest competitors, are actually the two wealthiest people on this planet,” Beck said.

“For us, we, we don’t have infinite capital, so we have to be very smart and we model ourselves after a famous Ernest Rutherford saying, and, and that was, he said, we have no money, so we, therefore we have to think.”

But, Beck said there’s no Holden v Ford rivalry between the world’s top players - who often are the first to call to congratulate a successful launch.

“We all know each other and we all respect each other, for what each other has achieved.

“We compete for contracts and for customers and all of that, but it’s a unique industry at the end of the day. When someone else does something truly amazing all of the competitors are the first to congratulate them.”

So, what’s next on the radar for Beck and Rocket Lab?

“I’m very passionate about interplanetary and interplanetary science.

“We have two satellites that are headed to Mars at the end of this year for Nasa to measure a whole lot of magnetic fields in space, information and data around the red planet.

“The findings of that are going to be not only just enormous to understand Mars but also how Mars ended up how it was, which we can then use to help Earth.”

Listen to the full episode to hear more about Rocket Lab’s US defence contracts and where Beck wants to see the company in ten years.

The Front Page is a daily news podcast from the New Zealand Herald, available to listen to every weekday from 5am. The podcast is presented by Chelsea Daniels, an Auckland-based journalist with a background in world news and crime/justice reporting who joined NZME in 2016.

The Associate Minister of Finance David Seymour has issued a new Ministerial directive letter to Land Information New Zealand (LINZ) to make consent processing timeframes faster under the Overseas Investment Act.

“New Zealand is currently rated as having the most restrictive foreign direct investment policy out of the OECD countries in the OECD Foreign Direct Investment Regulatory Restrictiveness Index.

“Processing times are currently too long, and this poses a barrier for investors. Budget 2024 started to get wasteful spending under control, but in order to have a strong growing economy New Zealand needs to be more welcoming to investment,” says Mr Seymour.

"Decisions on consent applications under the general benefit test take 89 days on average. This creates uncertainty and impacts the attractiveness of investing in New Zealand. This affects New Zealand businesses that rely on overseas investment for capital or for liquidity. With the new directive letter, we’re making things faster and removing bureaucracy.”

The directive letter sets an expectation that LINZ, the regulator for the Overseas Investment Act, will process 80 per cent of consent applications in half the statutory timeframes for decisions. LINZ will have the full statutory timeframe to process the remaining 20 per cent of consent applications to manage complex and higher-risk applications.

“To accomplish this objective, the directive letter directs LINZ to take a risk-based approach to verifying information and streamlining consent processes. This recognises that the majority of consent applications are low-risk and should be processed more efficiently.

“We’re introducing a principle that we welcome investment. In order for New Zealand to retain world class public services New Zealand needs to be the preferred destination for ideas, investment, talent.

“Reduced barriers to investment from people and businesses means greater prosperity for Kiwis. If we want world-leading businesses and public services, we need the money to pay for them. Today’s announcement is part of making this happen.

“These changes also bring balance to how applications are assessed by removing duplication across different parts of government. There’s no reason for LINZ to be assessing matters already covered by other domestic regulation, such as whether mergers will decrease competition, which is already assessed by the Commerce Commission.

“With the new letter, we’re removing bureaucracy to help make things faster. And with LINZ processing low-risk transactions more quickly, it can focus effort and resources on assessing higher-risk applications.”

“The new directive letter replaces the previous Government’s directive letter dated November 2021. Grant Robertson’s letter was 12 pages, ours is five pages. We’re getting out of the way.”

The letter is in force from today, and all applications assessed by LINZ from this date will be subject to the updated directive letter.

The Overseas Investment Regulations 2005 will be updated to include a new reporting requirement on the extent to which LINZ meets this new objective for timeframes.

The directive letter is part of a three-part process to better enable overseas investment. Firstly, fewer decisions be made by Ministers than before however, some high-risk decisions, including all national interest and national security transactions, will still be decided by Ministers. Secondly, the new letter has been introduced. The next step will be to rewrite the Overseas Investment Act.

The directive letter is available on the LINZ website: https://www.linz.govt.nz/our-work/overseas-investment-regulation/legislation-ministers-and-delegated-powers/new-ministerial-directives

Source: https://www.beehive.govt.nz/

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Trade Minister Todd McClay and Climate Change Minister Simon Watts travel to Singapore tomorrow to sign three Indo Pacific Economic Framework (IPEF) agreements. 

IPEF’s 14 partners represent 40 per cent of global GDP and account for 50 per cent of New Zealand’s exports. They include critical markets for Kiwi exporters in Australia, Bruni Darussalam, Fiji, India, Indonesia, Japan, South Korea, Malaysia, The Philippines, Singapore, Thailand, The United States, and Vietnam.

Minister McClay will participate in the full IPEF Ministerial meeting which includes discussions on a Indo-Pacific wide trade agreement.  He will participate in the formal signing of the overarching IPEF Agreement and the Fair Economy Agreement.

These agreements focus on anti-corruption efforts and labour standards across the region along with increased international tax cooperation to shape a secure and transparent investment climate in the Indo-Pacific region.

“The third IPEF pillar focuses on increasing trade efficiency. The negotiation of this pillar presents further opportunities for New Zealand to work with partners to reduce Non-Tariff Barriers (NTBs) and drive greater certainty for exporters.

Working with IPEF countries to increase investment flows and trade will help New Zealand meet the aspirational target of doubling exports by value in 10 years,” Mr McClay says.

While at IPEF Minister McClay will also hold bilateral meetings with Ministers from Australia, Canada, Fiji, India, Indonesia, Japan, Singapore, and The United States. 

Ministers lead trade and investment forum:

Minister Watts will participate in a Clean Economies Investors forum including a signing ceremony for the Clean Economy Agreement to increases cooperation on climate goals by mobilising investment in technologies and solutions for energy, industry and transport.

He will be joined by a select group of New Zealand clean tech companies that have been invited to pitch to the region’s top investors at the inaugural Clean Economy Investor Forum.

“The IPEF agreements and the investor forum reflect a growing consensus that technology, trade, and investment flows need to feature explicitly in a concerted regional response to climate change,” Mr Watts says.

“Workstreams on hydrogen and sustainable aviation fuel are among those already operating under the Clean Economy Agreement that have a lot to offer New Zealand,” Mr Watts says.

Source: https://www.beehive.govt.nz/