Philip Wood: British New Zealand Business Association president

Christopher Luxon's making his first trip to the UK as Prime Minister. 

While in London they'll be a focus on trade and defence during the meeting with his counterpart Kier Starmer. 

The UK is only a 7th largest trading partner with with a 20% increase in exports last year.

British New Zealand Business Association president Philip Wood talks to Tim Beveridge about the visit. 

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Episode Transcript

Speaker 1 (00:09):
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Speaker 2 (00:16):
And it's a big week for Christopher Luxon as Hem
acts his first visit to the UK as Prime Minister.
A trade, tariffs and geopolitics will undoubtedly be agenda toppers
when he sits down with the British PM Sukia Starma.
As it stands, the UK is only our seventh largest
trading partner, with a twenty percent increase in exports last year,
looks like new opportunities are opening and British New Zealand

(00:38):
Business Association President Philip Wood joins me. Now, Philip, good
morning morning. So where do you think the New Zealand
Britain relationship's at right now?

Speaker 3 (00:49):
Well, I was thinking about this when you were talking there.
I guess if you go back to nineteen seventy three
when UK entered the what was the common market? Now
the EU you come forward to now, it's probably the
strongest it's been since that time, I would say in
terms of business flows between the two countries.

Speaker 2 (01:07):
Has the China situation created opportunities or an increased will
to do business?

Speaker 3 (01:15):
Yeah, it's interesting. I was talking some businesses in New
Zealand businesses the other week and kind of general viewers,
perhaps boring old UK is quite an attractive market at
the moment, you know, And at the end of the day,
businesses want certainty, don't they. That's one of the key
things they want. And obviously with what's happening in US
China is increasing the kind of uncertainty around what's going

(01:37):
to happen. And I think the UK, with the free
trade agreement, the UK political scene is fairly well settled
kind of offers a i'd say, a reliable, fairly safe
market to head for. If you're a New Zealand exporter.

Speaker 2 (01:52):
I guess we know what we want. We want to
export more. Because let's start with the UK. What do
they want from want from US? With these face to
face meetings, Well.

Speaker 3 (02:03):
I guess UK and New Zealand are probably pretty much
aligned and what they're strategy is at the moment, I
guess is what's happening in terms of probably both countries
are hoping to negotiate something acceptable with the US and
kind of minimize any damage. But then at the same
time both countries are looking at kind of building stronger
relationships with other countries so that you're not reliant on

(02:25):
the US. And the US is the biggest market for
the UK exports, it's what's the second biggest for New Zealand,
And so the idea of kind of diversifying your risk,
building more trade across a wider number of areas. So
I think whilst the New Zealand maybe a smaller country
if you like, I think it's about number forty three
in the list of trading partners for the UK. You know,

(02:46):
it all adds up, and the more trades you do
with other countries, the less reliant you are on one
particular market. And I think in the current environment that's
probably a safe strategy.

Speaker 2 (02:55):
What do you think Luxlan will be wanting to get
out of this most of all so he can so
he can report a win for US.

Speaker 3 (03:04):
I think he just probably wants a reaffirmation of the
UK is fully behind the idea of a rules based
trading world rather than power based that the UK is
very much kind of aligned with New Zealand in terms
of as say, creating those trading groups. I mean, UK

(03:25):
is very interested in the Indo Pacific region since CPTPP
starting from the end of last year. New Zealand are
found a member of that and was an important part
in the UK joining that. So I think probably it's
that reaffirmation of the relationship. I mean, the end of
the day, it is the oldest relationship if you like
offshore so and it's a very wide relationship across business

(03:49):
in all a whole lot of other areas. So I
think it's that reaffirmation that both countries are very much
aligned in the same kind of program.

Speaker 2 (03:56):
Excellent, Hey, Philip, really appreciate your input. This morning there
was Philip Board, he's presiding US Owned Business Association President.

Speaker 1 (04:03):
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