The Development of Trade Relationship
New Zealand is an island nation found at the middle latitudes of the Southern Hemisphere. It is considered as the most physically isolated among industrialized nations. New Zealand depends upon trade and a traditional trading partner was found in Great Britain. But as New Zealand struggles to build new markets and trade relationships, it also found a good alliance with the United States. This made the former increase its economic self-reliance while restructuring its economy. Now, New Zealand is regarded as one of the most responsive nations in international trade. Only 1% of its people are farmers. Despite this fact, agricultural production was a boom in New Zealand's economy. It belongs to the top ranks of the world when it comes to production of wool, lamb and mutton exports. Believe it or not, sheep in the country outnumbers the people by a ratio of 20 to 1. Cattle are also abundant with around 8 million existing in the place. This makes New Zealand the world's largest dairy product producer. In addition to its agricultural production, goods manufactured in the country include electronic equipment, light engineering products, textiles, leather goods, rubber, carpets, plastic, pottery and glassware. The mining industry of New Zealand is relatively small and some of the products mined in the area are sand, gravel, rock, limestone and coal. The latter is exported greatly to Japan. The rivers and lakes of the nation bring forth more than 50 species of freshwater fish. Sport fishing is a natural attraction in the area. The country is also supported by the coastal fishing industry. Forestry products also comprise a significant portion in its income sources. The sophisticated road system in New Zealand connects its cities and town. Furthermore, most areas are linked by rail and air. This makes its global business reach out to the hearts of other countries. The primary exports such as agricultural products, automobiles, other manufactured goods and petroleum are imported from other countries like Japan, Australia and United States. These trading allies of New Zealand purchases 40% of its exports as well. The United States and New Zealand were seen as old friends. The US, being a very powerful nation, found it necessary to build equal grounds with small countries such as New Zealand. In fact, it was tracked that in the year 1839, the US government already placed a consular representation in New Zealand. From then on, they started making profits and increased their economies out of each other's wealthy resources. Major Exports and Imports Between the US and New Zealand Australia, being the nearest country to New Zealand was a major trading partner for the latter. They have built strong ties in their foreign relations. United States, on the other hand, plays a significant role in New Zealand's economic standing. As evidence to this, the former was considered as the second largest trading partner of New Zealand. Goods and services coming from the United States comprise 13% of New Zealand's imports. Per the data gathered by the US Census Bureau, a good evidence of trade was seen between US and New Zealand. For the seven-month period ending July 2008, the US exported $1.76 billion worth of goods to New Zealand while imports coming from the latter yielded $2.21 billion. The statistics showed better results than the same month of last year. Other pertinent information regarding the foreign trade between these two were shown in their 2007 trade performance:
The friendship between these two nations was sealed by various trade agreements. They were used to strengthen the bonds between US and New Zealand. Some of the notable pacts signed by the government of the two countries are:
Despite the strong camaraderie built by these two nations through time, disputes were also seen. They have basically evolved upon some issues on military defense as well as other grounds of trade. Specifically, the conflicts were seen on the following bases:
Despite the controversies which surged into the global business of the United States and New Zealand, the effort to follow the foundation of a good friendship surpassed the trials. Attempts were seen on both sides to furthermore elevate their alliance into a higher level. The anti-nuclear policy was worked on by US President George Bush and New Zealand Prime Minister Helen Clark. They have resolved the matters pertaining to this, making their trade blossom as they stabilize their positions in world trade. Just recently, on September 15, 2008, a so-called New Zealand-US Climate Change Partnership was created. This was used as a five-year platform for future directions of international business between the two nations. This was used as an affirmation of an ongoing battle in the future. The US and New Zealand managed to draw the lines of comradeship while others found this a threat to their existing economies in global trade. The pacts signed by the governments of these two countries were manifestations of a habit they could live with for the future generations. They have always believed that they gain strength from each others existence and they will bring along this belief with the hope of upholding a brighter future for their respective nations. US-New Zealand Trade References
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