A delegation of New Zealand businesses will be heading to Eastern Europe in the hopes of benefiting from the uncertainty over US tariffs.
Next month, 20 Kiwi businesses will be travelling to the capital cities of Warsaw, Poland; Prague, in the Czech Republic; Budapest, in Hungary; and Bucharest, Romania.
Among the delegation is Christchurch company Merino Softwear, which specialises in turning wool into new textiles and products.
“What’s the point going to the same countries all the time?” company co-founder Brent Gregory told 1News.
“This is a new opportunity and they are hungry.”
He continued: “I actually think Eastern Europe has been totally underestimated.”
Gregory said he believes Poland in particular is a prime target for investment.
“It’s a leg-in to the rest of the EU – which basically has the same population as the USA – and we’ll be very, very close to it.”
Gregory said he has meetings arranged with interests in the military and space industries, and discussions over a spacesuit made out of wool have already taken place.
He believes New Zealand’s Free Trade Agreement with the European Union, which came into effect last year, has opened the door for businesses like his. Recent global uncertainty over tariffs only amplifies that, he said.
“What’s happening politically at the moment is making countries and people think differently,” he said. “They’re looking for brand-new people to play with.”
Another entrepreneur joining the delegation is Dunedin-based Andras Palmay, who is looking for opportunities in construction through his business, Clydehill Investments.
“They’ve got advanced building materials that potentially we could use in New Zealand,” he said.
Palmay is especially interested in working with companies developing triple-glazed windows and doors for residential use. He would also like to develop manufacturing here.
The delegation was organised by the Auckland Business Chamber.
Chief executive Simon Bridges said the countries have dynamic and innovative economies – are “very, very untapped” from the New Zealand point of view.
“We’re taking businesses in construction and technology, in defence, in exporting food and beverage – all manner of things,” he said. “And we’re going to see what we can create out of that.”
A third business looking to boost trade is Kerikeri-based Manuka honey producer Tōtika Health. Director Isaac Flitta says European customers generally share their values of sustainability and an ethical approach to making products.
He uses the same word as Brent Gregory: “Hunger”.
“There is a lot of hunger there in wellness, in a premium wellness product.”
Flitta says the business had already been exporting to Western Europe, but last year’s FTA has been a game changer.
“It’s like opening the door we’ve been knocking on for ages .”
Like the other entrepreneurs, he views Poland as a key player.
“It’s probably cheaper to set up there to access the Scandinavian market, and the German market, which is huge,” he says.
The delegation heads to Eastern Europe in late May.
