Talking Trade: The Hong Kong Dragon and the New Zealand Taniwha

Ni hao mā.
Tēnā koutou katoa
Greetings

Acknowledgement: Steve Barclay, Director of Sydney’s Hong Kong Economic and Trade Office and delegation.

Last month I had the privilege of hosting the chief executive of Hong Kong, Donald Tsang. His presence here was important as it demonstrated the significance Hong Kong places on future trade opportunities with New Zealand. Your presence here tonight is further proof of this. Furthermore, for me, the fact that Mr Tsang and yourselves have made sure you meet with Māori economic leaders is hugely significant.

Post Treaty of Waitangi settlements and savvy tribal investments now sees Māori in control of 37% of New Zealand’s total fish quota. Māori also control 36% of our forests. Covering thousands of hectares of farmlands, iwi businesses are already exporting direct into Asia. Our tribes are investing in telecommunications, infrastructure, retail property and tourism. The Ngai Tahu tribal business is one of the largest in the South Island. Further north, and in spite of a global recession, last year Tainui Group Holdings achieved a healthy $23 million net annual profit. These two tribes alone control assets worth nearly $2 billion. If the Māori economy invests successfully in science and innovation, BERL predicts an additional $12.1 billion per annum in GDP by 2061.

When my Māori Economic Taskforce commissioned BERL to examine the extent and nature of the Māori economy, which was thought to be around $16.4 billion in 2006, they found it was in fact worth $36.9 billion.

BERL described this as a ‘sleeping giant’ but I prefer to call it, the Taniwha Economy.

I think it is pretty clear that the Taniwha Economy is no longer asleep, but in fact is wide awake and ready to talk trade with the Hong Kong Dragon.

Hong Kong is one of the leading dragon economies that have led to Asia becoming the centre of gravity of our global economy. Last year the World Economic Forum ranked Hong Kong the most developed financial market on earth, the first time an Asian economy has held this title.

Mister Tsang has said that Hong Kong is helping connect the region’s dragon economies through trade, finance, innovation and ideas.

Your presence here shows us you are also keen to help connect with the Māori economy, the New Zealand Taniwha economy through trade, finance, innovation and ideas. Our government is keen to support and strengthen these relationships.

I strongly believe that relationships are critical to doing business in markets like Hong Kong and mainland China. Māori business engagement with Hong Kong has the potential to build strategic, commercial and cultural relationships, and we can leverage the unique advantage of a tikanga Māori based approach to business.

There will be a number of particular sectors that Māori businesses could see advantages in doing business with Hong Kong that play to the strengths of the Māori commercial asset base, including seafood, dairy, red meat, added value food and beverage, investment, education, and tourism.

I would like to acknowledge that Hong Kong is also hugely significant in terms of culture and history.

This is something Māori can relate to. Our own Treaty of Waitangi with the British Crown was signed barely a year before the Treaty of Nanking. Cantonese joined English as an official Hong Kong language in 1974 – here in New Zealand, our Māori language joined English as an official language of our country in 1987. Like the peoples of Hong Kong, Māori are working to strengthen our economic base while also celebrating our cultural and historical heritage.

Hosting the rangatira or chiefs of Hong Kong is an honour and opportunity I hope New Zealand and Māori entrepreneurs will make the most of.

The dawn of the Year of the Water Dragon is behind us all, it is up to ourselves to make the most of this auspicious time.