Trading through Uncertainty

With the recent U.S. elections wrapping up, there’s definitely a lot of talk and a bit of uncertainty swirling around global trade. This has many of us in New Zealand pausing to rethink our strategies. If there’s one thing that’s clear, it’s that our savvy business leaders need to keep their eyes on new and exciting trade opportunities, particularly in Southeast Asia.

Now, if future US trade policies play out as predicted, we could be in for some changes in international agreements. This could shake things up for New Zealand’s position in global markets. But here’s the bright side: Southeast Asia is right next door, brimming with potential and ready for us to engage.

Southeast Asia has some of the world’s fastest-growing economies and a burgeoning middle class. ASEAN’s 700 million consumers, which is marked by high mobile and internet use, are fuelling e-commerce and digital services as incomes rise.

This means there’s a genuine appetite for innovative products and top-quality services—exactly what we excel at in New Zealand! This is the perfect moment for Kiwi entrepreneurs to pivot and renew our focus on exploring new opportunities.

Whether it’s sustainable goods, groundbreaking tech, or artisan products that celebrate our rich heritage, Southeast Asia’s diverse markets offer an open door for New Zealand businesses. People worldwide are aware that New Zealand stands for excellence, and Southeast Asian consumers are no exception.

What’s the key to making these connections work? Collaboration and networking. Southeast Asia is home to some of the most dynamic business communities, and this can be a huge advantage for us. Think of the tech boom in Singapore or the remarkable agricultural advancements happening in Vietnam—there’s so much potential for partnerships that benefit everyone involved.

One great way to build these bridges is by participating in trade shows, pop-up markets, or through virtual networking events focused on the Southeast Asian market. It’s crucial to understand the cultural nuances and consumer preferences in each country. Success here means being adaptable, open-minded, and willing to weave local insights into your business strategies. The more you tailor your products and services to meet specific needs, the more you’ll stand out.

But where should you start? And yes, there are challenges—like regulations and language differences—that can feel a bit daunting.

This is where Nuku Toi comes in. With over a decade of experience in building the right connections, providing networks, and conducting in-depth research in Southeast Asia and the Indo-Pacific, we’re here to help make navigating these complexities manageable and even exciting.

For instance, back in 2019, Nuku ki te Puku (now Nuku Toi) hosted a series of workshops in Singapore, teaming up with scientists and local businesses to explore health-based food products using high-quality New Zealand ingredients. Then, in 2023, we worked with SEA CAPE on a study to explore collaboration between Thailand and Māori-led enterprises. This research focused on the food and agriculture sectors—a key area for trade with Thailand, especially their commitment to a bio-circular green economy. The findings underscored the potential for strengthening economic ties between Thai businesses and Māori enterprises. (These are just two examples of Nuku Toi’s focus on connecting New Zealand businesses with the right people and companies in Southeast Asia and the Indo-Pacific region. You can check out more of our case studies and projects at www.nukutoi.nz/insights.

So, while things might feel a bit uncertain following the U.S. election, we are confident that New Zealand entrepreneurs have an incredible chance to dig deeper into the markets in Southeast Asian market. Our reputation for resilience and innovation makes us well-positioned to meet the growing demand for high-quality, unique products. Let’s embrace these opportunities with knowledge, solid connections, and determination.

Here’s to new adventures and a successful 2025!

Dr. Vivienne Hunt