Deals worth $100 million unlocked on Saudi Arabia mission

Five commercial deals worth $100 million in potential export value have been unlocked during the Minister for Trade and Investment’s mission to Saudi Arabia this week (14-16 September).

Hon Todd McClay led a business delegation of 21 companies to promote and strengthen trade and investment opportunities with one of New Zealand’s largest and fastest-growing export destinations in the Middle East. Supported by New Zealand Trade and Enterprise (NZTE), the visit comes as both countries lay the groundwork for the implementation of the New Zealand-Gulf Cooperation Council free trade agreement (NZ-GCC FTA).

“The rapid transformation of Saudi Arabia’s economy coupled with the incoming trade agreement is opening new opportunities for New Zealand companies to partner and grow in this exciting market. It was great to see the delegation grasp the opportunity with both hands, driving important new connections, raising the profile of brand New Zealand, and delivering $100 million in potential new export value,” said Peter Chrisp, Chief Executive of New Zealand Trade and Enterprise.

“We are seeing strong growth in the value of our exports to Saudi Arabia, which has more than doubled in the past four years (YE June 2021-YE June 2025). This visit will open further doors for our businesses, particularly in premium food, tech, services, construction, and the creative industries, where there is enormous potential collaboration as a result of Saudi Arabia’s ambitious Vision 2030 strategy.

“As interim CEO of Invest NZ, the Minister and I also met with the Saudi Ministry of Investment and explained the opportunities in energy, infrastructure and minerals,” he said

Dame Julie Christie, Delegation Lead and Chief Executive of NHNZ Worldwide, said: “As this mission has shown, there are myriad opportunities in Saudi Arabia for New Zealand companies. It’s heartening to see the enthusiasm and support on display from our Saudi hosts, who are eager to partner with us to grow mutual prosperity.”

The New Zealand companies signing partnerships and making deals during the mission included Gallagher Animal Management, Wētā Workshop, New Image Group (NIG) and 26 Seasons.

Hamish Wiig, General Manager of LATAM, Middle East, Asia and Africa at Gallagher Animal Management, which announced it was establishing a presence in Saudi Arabia during the mission, said: “Saudi Arabia represents a dynamic and rapidly evolving market. By establishing a direct channel here, we can collaborate more closely with our partners in the Kingdom, which is important for building trust and deepening engagement."

During the two-day official programme, the business delegation visited the Public Investment Fund (PIF), Saudi’s sovereign wealth fund, the Ministry of Investment (MISA), supermarket giant Lulu, and Diriyah Gate, one of several giga projects currently under development in the country.