NZ–Saudi Arabia Business Council Launched to Boost Trade and Investment

New Zealand and Saudi Arabia have taken a major step toward strengthening bilateral economic ties with the establishment of the New Zealand–Saudi Arabia Business Council, following the signing of a joint statement this week between Trade and Investment Minister Todd McClay and Saudi Minister of Investment, H.E. Dr Majid bin Abdullah Al-Kassabi.

Strengthening a Growing Economic Partnership

Saudi Arabia, with an economy valued at nearly USD $3 trillion, ranks among the world’s top 20 export markets for New Zealand. The Kingdom is also one of the fastest-growing and most dynamic economies globally, driven by its Vision 2030 economic diversification programme, which has created significant demand for foreign investment, expertise, and partnerships.

Minister McClay highlighted the importance of this new council in ensuring New Zealand businesses are well positioned to take advantage of Saudi Arabia’s growth.

“The establishment of this Business Council is an important step in strengthening trade and investment links between our two countries. The upcoming conclusion of the free trade agreement with the Gulf Cooperation Council will open the door to significant new opportunities, particularly in Saudi Arabia,” McClay said.

Preparing for Gulf Free Trade Agreement Benefits

New Zealand is in the final stages of concluding a free trade agreement (FTA) with the Gulf Cooperation Council (GCC), which includes Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman, and Bahrain. Once finalised, the FTA is expected to reduce tariffs, expand market access, and provide a stronger framework for economic cooperation.

The Business Council will act as a bridge, ensuring New Zealand exporters are ready to leverage the benefits of the FTA while encouraging Saudi investment into New Zealand.

Role of the New Business Council

According to McClay, business councils are proven mechanisms for deepening commercial ties and supporting exporters in foreign markets. The New Zealand–Saudi Arabia Business Council will:

• Raise awareness of market opportunities across sectors such as agribusiness, technology, education, and services.

• Strengthen commercial relationships by connecting New Zealand exporters with Saudi counterparts.

• Support investment flows, helping attract Saudi capital into New Zealand industries and encouraging joint ventures.

• Contribute to export growth, aligning with the Government’s ambition to double the value of exports within 10 years.

“Trade supports jobs in every region of the country, and stronger export and investment links mean more opportunities, higher wages, and greater opportunities for all New Zealanders,” McClay said.

Why Saudi Arabia Matters for New Zealand

Saudi Arabia’s growing demand for high-quality food, technology, education, and renewable energy expertise positions New Zealand as a strong partner. Already, New Zealand exports to Saudi Arabia include dairy products, meat, and high-value foodstuffs, which are highly sought after in the region.

In return, stronger ties with Saudi Arabia are expected to boost investment into New Zealand’s infrastructure, agritech, and innovation sectors, creating new jobs and expanding opportunities for Kiwi businesses.

Looking Ahead

The launch of the Business Council signals a new chapter in New Zealand’s Middle East trade strategy. With Saudi Arabia emerging as both a vital trading partner and a source of significant investment, the council is expected to play a central role in ensuring New Zealand exporters remain competitive in one of the world’s fastest-growing markets.

The move reflects New Zealand’s broader vision to diversify its trade links, strengthen resilience, and secure long-term economic growth through deeper international engagement.