Prime Highlights
- Saudi Arabia and New Zealand signed over $100 million worth of commercial deals to boost trade and investment ties.
- The agreements mark a new phase in strengthening economic cooperation, supported by the upcoming GCC–New Zealand free trade agreement.
Key Facts
- Since 2021, New Zealand’s exports to Saudi Arabia have grown by 118%, with dairy making up 80% of exports and meat nearly 10%.
- By June 2025, two-way trade reached NZ$1.6 billion ($960 million), making Saudi Arabia one of New Zealand’s top Middle East export markets.
Key Background:
Saudi Arabia and New Zealand have strengthened their economic ties by signing business deals worth over $100 million. These were finalized through the visit of the New Zealand Trade Minister, Todd McClay, to Riyadh, where he led a group of 21 companies to investigate trade and investment in the Kingdom.
The memorandums of understanding covered sectors such as nutrition, agriculture, and animal management. Among the key agreements were those between NIG Nutritionals and Al Dawaa Pharmacies, 26 Seasons and Qassim Strawberry & Fruit Cooperative Society, and Gallagher Animal Management and Al Tajweed. According to McClay, these partnerships are expected to generate over $100 million in commercial value and provide a significant boost to New Zealand exporters.
“This will reinforce New Zealand as a reliable trade partner and contribute to our target of doubling the value of exports within the next decade,” McClay said.
During his visit, the minister also met with Khalid Al-Falih, Saudi Arabia’s Minister of Investment, to explore further opportunities for collaboration. The discussions build on last year’s conclusion of the New Zealand–Gulf Cooperation Council Free Trade Agreement, which is expected to be formally signed in the coming months.
Trade relations between Saudi Arabia and New Zealand have seen remarkable growth. In 2021, the export of New Zealand to Saudi Arabia recorded an increase of 118 percent. Approximately 80 percent of these exports are made up of dairy products, and almost 10 percent of these exports are made up of meat.
By June 2025, two-way trade reached 1.6 billion New Zealand dollars ($960 million). This makes Saudi Arabia one of New Zealand’s top two export markets in the Middle East and its 18th largest trading partner worldwide.
Minister Todd McClay praised Saudi Arabia’s Vision 2030, calling it one of the region’s most dynamic markets undergoing rapid transformation. He emphasized that the free trade agreement marks only the foundation of a stronger, long-term partnership.
This year also marks 48 years of diplomatic relations between the two nations, with exports more than doubling over the past four years. The minister’s visit further included meetings with the Saudi Public Investment Fund and a tour of the Expo 2030 site, underscoring the growing momentum in bilateral ties.
