COVID-19 / CORONAVIRUS MARKET UPDATE – AUSTRALIA PACIFIC

General overview

The relationship between New Zealand and Australia continues to be one of the strongest in the world, and this is unlikely to change as a result of the outcomes of COVID-19.

In fact, as global markets become more uncertain, there may be benefits to working more with our neighbours, leveraging New Zealand's more sustainable image and trustworthy, ethical ways of working.

Australia has moved rapidly to set in place economic stimulus to manage the impacts of COVID-19, at both business and household level, and some state governments have also frozen fees and charges at current levels.

Across the Pacific, the way countries are managing and regulating COVID-19 differs significantly. In business it is taking longer to get things done, with transport links and delivering products to market being key concerns and challenges.


Australia

To support households and businesses, the Australian Government has announced economic responses to the coronavirus that currently totals A$189 billion. The flow of credit and eligible Australian registered businesses will be supported with around A$83 billion of that amount, including:

  • Boosting cash flow for eligible small and medium-sized employers

  • Temporary relief for financially distressed businesses, including increasing thresholds for creditors

  • Increasing the instant asset write-off

  • Investment incentives to support business investment by accelerating depreciation deductions

  • Supporting immediate cash flow needs for SMEs and access to credit for small businesses

  • Supporting the flow and reducing the cost of credit (Reserve Bank of Australia)

  • Support for non-ADI and smaller ADI lenders in the securitisation market and ensuring banks are well placed to lend via the APRA

This follows a bushfire recovery package of A$2 billion announced in January, as well as the significant spend on infrastructure and defence already underway.

Export opportunities are likely to be found in food and beverage, manufacturing and technology, and in particular, tools that minimise the need for face-to-face meetings.

If you are planning to travel to Australia, the Australian Government has announced that from 9pm AEDT 20 March 2020, only Australian citizens, residents and immediate family members can travel to Australia. Exemptions to travel restrictions do apply, including for New Zealand citizens who are usually residents in Australia (who will need to carry with them proof of residency). Please check before travelling. All travellers to Australia are required to self-isolate for 14 days, either at home or in a hotel.

Please note all travellers returning to New Zealand are subject to a mandatory 14-day self-isolation period and must register with Healthline via 0800 358 5453

Useful links

Pacific

Please check the requirements to enter Pacific countries before travelling.

Numerous countries have introducing 14-day self-isolation requirements and other stricter border measures.

Please note all travellers returning to New Zealand are subject to a mandatory 14-day self-isolation period and must register with Healthline via 0800 358 5453.

Useful links


Additional resources

Below you can find information and contact details for other New Zealand government and international agencies regarding their response to COVID-19.

New Zealand Government agencies

Business.govt.nz
Covid19.govt.nz
New Zealand Customs
Ministry for Primary Industries (MPI)
MFAT Export helpline
MFAT Safetravel
Immigration
Ministry of Health

Global agencies

World health organisation (WHO)
Centres for Disease Control and Prevention (CDC)

Contact NZTE

We're available to talk to you about any issues your export business is facing due to COVID-19.

For existing NZTE customers, please contact your New Zealand-based Customer Manager.

If you're unsure who to contact or haven't worked with us before, you can call NZTE on 0800 555 888 or email below and one of our Customer Advisors will help you.