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New Zealand gov't gauges Brexit impact on exports, investments

Xinhua, August 16, 2016 Adjust font size:

The New Zealand government has begun a survey on the effects of the Brexit vote on its exporters and investors with a view to shaping policy in the event of Britain's departure from the European Union (EU).

Trade Minister Todd McClay on Tuesday issued a call for public submissions on the likely impact of Brexit on New Zealand businesses that exported goods or services to Britain, or which had investments in Britain.

It followed the referendum on June 23 that saw British vote to leave the EU - a result that was being implemented by the British government.

"Although the Brexit process will take a number of years, the New Zealand government is paying close attention to it - to ensure the interests of New Zealanders are maintained and advanced," McClay said in a statement.

"The first step of this is to build an accurate understanding of New Zealand's commercial interests in the UK, and hear from exporters and investors how they think Brexit will impact their activities in the UK."

The submissions would help inform the government's approach to issues that might arise and enable the government to more effectively work with businesses to safeguard New Zealand's interests as the process unfolded.

New Zealand and the European Union have agreed to open negotiations on a free trade agreement, which McClay said was New Zealand's current trade priority in Europe. Endit