International trade in 2022 – a year of increasing divisions along geopolitical lines, rising protectionism, and rising ESG awareness.
This year has seen the global trading environment become ever more difficult to navigate, and the currents driving this deterioration show no signs of abating. In our International Trade Trends & Insights 2022 publication, we highlight the challenges this is creating for New Zealand businesses. Those challenges include the implications of the Russia-Ukraine war and the imposition of sanctions, ongoing supply chain disruption, and increasing pressure to diversify trade away from China.
Sitting over all of these tensions, and covered in this publication, are:
- a sharpening need to reduce GHG emissions and demonstrate sustainable trade practices,
- a new mandatory climate related disclosure regime for most listed issuers, and our largest banks, insurers and fund managers,
- an expansive policy proposal to guard against modern slavery and worker exploitation,
- increasing awareness of environmental, social, and governance considerations and supply chain responsibilities, and
- shifting consumer preferences.
We also provide an update on the latest international trade developments this year, including:
- the WTO 12th Ministerial Conference,
- FTA developments, including the NZ-UK FTA and NZ-EU FTA, and
- New Zealand’s legal claim against Canada under the CPTPP.