Tuesday, July 16, 2024

Aotearoa ranks #1 in Sustainable Trade Index

Minister for Trade and Export Growth, Damien O’Connor says achieving top spot in the 2022 Sustainable Trade Index indicates New Zealand is on the right track for economic recovery and future economic security.

The Sustainable Trade Index, launched in Singapore overnight by the Hinrich Foundation and the International Institute for Management Development, ranks New Zealand first of 30 economies that undertake international trade in a manner that supports long-term global sustainable development. The Index assesses three core pillars – economic growth, environmental protection and societal development.

“We have placed trade at the centre of our economic recovery, successfully securing four FTAs in the past five years,” Mr O’Connor said.

“Our standard of living depends on our ability to trade and that in turn depends on adapting to changing markets. This ranking is a strong validation of our approach and goes to the heart of our global brand.

“New Zealand being ranked first in the Sustainable Trade Index is an excellent endorsement of our Trade for All agenda and our successes in economic growth, environmental protection, and societal development.

“New Zealanders can be especially proud to have been placed first in the first year we have been included in the Index, and compared to other leading developed economies.

“We ranked first in the Index’s environmental protection and societal development pillars. Within these, we scored particularly highly on labour standards, political stability, air pollution and environmental standards in trade.”

The Minister said New Zealand is out in front thanks to a commitment to rules-based and liberal international trade, high quality environmental regulation and high levels of social cohesion.

The Index analyses 70 data points grouped into Economic, Environmental, and Societal Pillars across 30 economies including all members of APEC and the CPTPP.

“As Kiwis we can be proud of this ranking, but we should always be working to lift our brand and maintain our position.”

“Both the trade environment and consumer demands are changing in a world that’s challenged by food security and climate change. Our investments in producing food and fibre with low emissions and high sustainability, for instance, keep us on the right trajectory,” Minister O’Connor said.

The 2022 Sustainable Trade Index can be found at: Sustainable Trade Index 2022 | Hinrich Foundation.

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