INDEPENDENT NEWS

BUDGET 2001: Funding for diplomatic and trade

Published: Thu 24 May 2001 02:51 PM
24 May 2001
Increased funding for diplomatic and trade efforts
Foreign Affairs Minister Phil Goff and Trade Negotiations Minister Jim Sutton today welcomed the extra funding in the budget for diplomatic and trade efforts.
Mr Goff said the Government would commit $7.3 million over the next four years to the new Embassy in Brazil which was a key component in the Latin America strategy.
"Brazil is the giant of South America. It is the 9th largest economy in the world and with 170 million people has the fifth largest population on the planet. Brazil's total import market is worth US$57 billion a year. The opening of this Embassy will be a major step towards boosting the bilateral trade with New Zealand, which was worth NZ$142 million at June 2000.
"Brazil is also a powerful player in international affairs and the presence of a mission will help New Zealand build on already good cooperation on issues such as nuclear disarmament," Mr Goff said.
Extra funding of $1.034 million has been allocated to Trade NZ in 2001-02, $1.878 million in 2002-03, $2.721 million in 2003-04 and $3.565 million in 2004-05.
Mr Sutton said the increase reversed the run-down in Trade NZ's budget by the previous National Government and would help the development and expansion of New Zealand's export trade, as well as our economic, academic, and social links with the rest of the world.
"Exporting is vital to New Zealanders' standards of living and the Government is committed to helping exporters grow their businesses," he said.
ENDS

Next in New Zealand politics

Gordon Campbell on what’s wrong with Wellington
By: Gordon Campbell
$1m Compensation To Christchurch Gun Owners In First Event
By: RNZ
Youth Parliament 2019 Event Kicks Off in the Capital
By: New Zealand Government
Foreign Minister to visit United States of America
By: New Zealand Government
Gordon Campbell on the Aussie banks’ latest fee hike excuse
By: Gordon Campbell
Terms of Reference for Defence Estate Review Released
By: New Zealand Government
Race Relations Commissioner appointed
By: New Zealand Government
Students granted formal qualifications after fees scrapped
By: New Zealand Government
Million-dollar start to gun collection events
By: Ministry of Education
Praise after first firearms collection event
By: New Zealand Government
Cantabrians hand in 542 firearms in one weekend
By: New Zealand Police
First Firearms collection event a success
By: New Zealand Police
Firearms collection event update – Thank you Canterbury
By: New Zealand Police
Gun 'buyback' pure political theatre
By: ACT New Zealand
NZ to learn from US gun violence report
By: Amnesty International
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media