Media Release

27 March 2006

Primary Production Still Fundamental

New Zealand First says that the current account deficit is disturbing, and that the only way to address the trade imbalance is to increase the value of our exports and reduce imports.

“New Zealand was built on the back of the farming sector, and it is there that we have to look to equalise the current trade deficit,” said Primary Production spokesperson Doug Woolerton.

“While I agree that it would be nice to be able to reduce our dependence on the primary sector, at the moment we need to address the imbalance, and increasing our farming exports is the only way I can see that will afford some relief.

“The implementation of incentives for exporters that provide for sustainable economic growth may not be palatable, but in view of the fact that there is no knight in shining armour on the horizon, I suggest that this kind of action needs to be taken.

“In the meantime, it is imperative that we get smarter, and come up with new and innovative ways of expanding our exports that recognise our comparative advantage in primary production but also broaden our export base,” said Mr Woolerton.

ENDS

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