New Zealand ranked first in Sustainable Trade Index

This article first appeared in FMCG Business

New Zealand Minister for Trade and Export Growth, Damien O’Connor said the country achieving first place in the 2022 Sustainable Trade Index indicates the country is on the right track for its economic recovery and future economic security.

The Sustainable Trade Index, launched in Singapore this month 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.

New Zealand led the ranking, followed by the United Kingdom and Hong Kong.

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,” 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.

“New Zealand is out in front thanks to our 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,” O’Connor said.

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