This information was prepared by Coriolis solely for the use of our client; it is not to be relied on by any third party without prior written consent.

An Investor’s Guide to the New Zealand Food & Beverage Industry 2013

Final Report May 2013; v1.09

www.foodandbeverage.govt.nz

Coriolis is a strategic management consulting and market research firm We work with organisations to help them grow. For corporations, that often means developing strategies for revenue growth. For governments, it means working on national economic development. For non-profits, it means helping to grow their social impact. We address all the problems that are involved in growth: strategy, marketing, pricing, innovation, new product development, new markets, organisation, leadership, economic competitiveness. We bring to our clients specialised industry and functional expertise. We invest significant resources in building knowledge. We see it as our mission to bring this knowledge to our clients and we publish much of it for the benefit of others. A hallmark of our work is rigorous, fact-based analysis, grounded in proven methodologies. We rely on data because it provides clarity and aligns people. However, we deliver results, not reports. To that end, we work side by side with our clients to create and implement practical solutions. The Coriolis name The coriolis force, named for French physicist Gaspard Coriolis (1792-1843), may be seen on a large scale in the movement of winds and ocean currents on the rotating earth. It dominates weather patterns, producing the counterclockwise flow observed around low-pressure zones in the Northern Hemisphere and the clockwise flow around such zones in the Southern Hemisphere. To us it means understanding the big picture before you get into the details. PO Box 90-509, Victoria Street West, Auckland 1142, New Zealand Tel: +64 9 623 1848 www.coriolisresearch.com

The objective of this document is to make a strong, factual case for investment in the New Zealand food and beverage industry - This investment can come from existing investors or those

new to the sector

- This investment can come from global sources or New Zealand

The document acts as an “entry portal” to the wealth of further information available in on the sector in the New Zealand Government’s Food & Beverage Information Project

www.foodandbeverage.govt.nz

PAGE 3

EXECUTIVE SUMMARY

General - New Zealand is a developed, temperate-climate country in the

Asia-Pacific region. It is a stable democracy with strong economic freedoms (Index of Economic Freedom #4), excellent investor protection (World Bank #1) and low corruption (Transparency International #1). It is by almost all measures the most attractive investment destination in the temperate zone of the Southern Hemisphere.

Food & beverages - Food and beverage exports are important to New Zealand and

the country is a major F&B exporter. New Zealand’s F&B exports are growing strongly and the country’s export performance is strong and improving relative to peers.

- The country has demonstrated capability in the production of temperate-climate food and beverages. It is the largest exporter in the world of dairy products and lamb and a major exporter of beef, kiwifruit, apples and seafood.

Drivers - The success of New Zealand in temperate foods is built around a

natural environment conducive to agriculture. New Zealand – surrounded by the Pacific Ocean – has the light of Spain with the climate of Bordeaux. This climate will also moderate the effects of global warming going forward (relative to large continents).

- The country’s farmers are highly productive and efficient. The country has no agricultural subsidies and regulation is generally rational and light handed.

- New Zealand has a supportive infrastructure for food and

beverages along the total value chain. - New Zealand is a leader in food safety and product traceability.

Customers and consumers around the world trust food and beverages produced in New Zealand.

- In science, New Zealand spends more than half a billion dollars a year on Agri-Food research across a wide range of areas, from fruit genetics to nutraceuticals. The country is also home to four major universities respected globally for their Agri-food research.

Opportunities - While New Zealand is a major global F&B exporter, the country

has significant untapped capacity to export more. New Zealand is a country the size of Italy with the population of Singapore. However Italy feeds a domestic population of 60m people and exports twice as much F&B as New Zealand.

- The New Zealand Government has set a target of tripling the country’s food and beverage exports over the next 15 years. This will be achieved through both growth of existing major sectors and the newer emerging growth stars.

- New Zealand is a young country still discovering its comparative advantages and new industries continue to emerge. In the past twenty years New Zealand wine, honey, aquaculture and avocados have all emerged from almost nothing into world leading sectors.

- New Zealand has attracted investment in F&B manufacturing from around the world. Global leaders have already endorsed New Zealand by investing in manufacturing in the country and 25% of the F&B manufacturing sector is foreign owned.

PAGE 4

New Zealand is well positioned to triple its food & beverage exports over the next 15 years; investors will participate in this success

NEW ZEALAND OVERVIEW

1. 32nd at PPP exchange rates; Source: Statistics New Zealand; CIA World Fact Book; Wikipedia; The Heritage Foundation (IoEF); Transparency International; World Bank; Coriolis analysis

New Zealand is a developed, temperate-climate country in the Asia-Pacific region that is an attractive investment destination

Basic details on New Zealand (2012)

New Zealand

Population 4.4m (2012)

Population growth rate 0.86% (2012e)

Area 267,710km2 (similar to Italy)

Coastline 15,134km (more than China; less than the US)

Population density 16/km2 200th highest in world

GDP US$156b (nominal) (similar to Kuwait)

GDP (PPP) per capita $28,000 (similar to Italy or Slovenia) 47th highest in world1

Currency New Zealand dollar (NZD) US$0.77 (11/2012)

Politics Parliamentary democracy

Index of Economic Freedom

#4 in the world (above the US and Switzerland)

Corruption Index #1 (tied with Singapore and Denmark)

Investor Protection (World Bank)

#1

PAGE 5

New Zealand vs. twenty select peers (2012)

LOTS OF LAND & COAST; FEW PEOPLE New Zealand is a mid-sized country – similar in size to Italy and the UK – with lots of coastline but a relatively small population; as a result it produces more food than it consumes and exports the surplus

PAGE 6 Source: CIA World Fact Book; UN Popstat; Coriolis analysis

756

633

506

441

378

357

338

324

301

270

243

176

103

92

84

70

43

41

37

31

22

Chile

France

Spain

Sweden

Japan

Germany

Finland

Norway

Italy

New Zealand

United Kingdom

Uruguay

Iceland

Portugal

Austria

Ireland

Denmark

Switzerland

Netherlands

Belgium

Israel

Population (people; m; 2012)

128

82

65

62

61

46

17

17

11

11

10

9

8

8

6

5

5

5

4

3

0

Japan

Germany

France

United Kingdom

Italy

Spain

Chile

Netherlands

Belgium

Portugal

Sweden

Austria

Switzerland

Israel

Denmark

Finland

Norway

Ireland

New Zealand

Uruguay

Iceland

Country area (sqkm; 000)

29,751

25,148

15,134

12,429

7,600

7,314

6,435

4,988

4,964

3,427

3,218

2,389

1,793

1,448

1,250

660

451

273

66

-

-

Japan

Norway

New Zealand

United Kingdom

Italy

Denmark

Chile

Iceland

Spain

France

Sweden

Germany

Portugal

Ireland

Finland

Uruguay

Netherlands

Israel

Belgium

Austria

Switzerland

Coastline length (km; 000)

More than China! (14,500km)

Chile

Norway

UK

USA

France

Canada

Australia

New Zealand

Faroe Islands

Ireland

Germany

Denmark

Finland

Portugal

South Africa

Sweden

Iceland

Argentina

Belgium

Salmons, trouts, smeltsMolluscsFreshwater fishMarine fishCrustaceansAquatic plants

Value of aquaculture production by species (US$m; 2008)

GROWTH UPSIDE Many food & beverages categories – including aquaculture, horticulture and wine – have strong growth upside

PAGE 7 Source: UN FAO AgStat; UN FAO FishStat FIGIS database; Coriolis analysis

Hectares in fruit, nuts & vegetables (ha; 000; 2009)

Total Grape area by country/region (ha; actual; 2009)

$380m

$529m

$686m

$813m

$937m

$955m

$3,119m

$4,550m

$230m

$175m

$137m

$119m

$66m

$54m

$42m

$32m

$27m

$12m

$1m

1,323 184 663 Italy

NewZealand

Fruit

Nuts

Vegetables

17x

71

1

53

125

2,170

793,144

222,700

190,000

100,101

45,098

34,380

33,442

24,708

14,820

7,362

3,237

France

Portugal

Chile

Germany

Austria

Croatia

New Zealand

Washington

Switzerland

Oregon

British Columbia

3-6x

3-8x

Food & Beverages as a percent of New Zealand’s total merchandise export value (%; 2011)

MAJOR F&B EXPORTER Food & beverage exports are important to New Zealand and the country is a major F&B exporter

PAGE 8 Source: UN Comtrade database; Coriolis analysis

Food and Beverages

55%

Other products 45%

$72

$70

$70

$41

$39

$39

$28

$21

$19

$15

$12

$11

$10

$8

$8

$6

$4

$2

$2

$2

Netherlands

Germany

France

Spain

Italy

Belgium

United Kingdom

New Zealand

Denmark

Chile

Ireland

Austria

Norway

Sweden

Switzerland

Portugal

Japan

Iceland

Israel

Finland

Total F&B export value: New Zealand vs. peers (US$b; 2011)

NZ exports 5x as much food as

Japan!

Total exports = US$37.6b

New Zealand F&B export value by major segment (US$b; 2011)

RANGE OF SECTORS New Zealand food exports are spread across a range of product sectors; while all are achieving export value growth, processed foods and beverages stand out as growth stars

PAGE 9 Source: UN Comtrade database; Coriolis analysis

$2.7

$10.1

$1.8

$4.4

$0.9

$1.3

$0.8

$1.6

$0.2

$0.4

$0.3

$1.7

$0.1

$1.1

1996 2011

Dairy

New Zealand F&B export value by major segment (US$b; non-inflation adjusted; 1996 vs. 2011)

Meat

Seafood

Produce

Other

Processed

Beverages

$20.7

$6.8

9%

6%

3%

5%

5%

12%

17%

15 year CAGR

(96-11)

8%

Whole milk powder $4.2 20%

Skim milk powder $1.3 6%

Butter $2.0 10%

Cheese $1.1 5%

Other dairy $1.5 7% Beef $1.6 8%

Lamb $2.4 11%

Other meat $0.4 2%

Wild seafood $1.1 5%

Aquaculture $0.3 1%

Kiwifruit $0.8 4%

Apples $0.3 1%

Other produce $0.5 2%

Other foods $0.4 2%

Processed foods $1.7 8%

Wine $0.9 4%

Other beverages $0.2 1%

Dairy $10.1b

49%

Total = US$20.7b

Meat $4.4b 21%

15 year compound annual growth rate (CAGR) in total food & beverage export value: New Zealand vs. identified climatic peers (%; US$; non-inflation adjusted; 2011 or latest available)

GROWING STRONGLY New Zealand’s food & beverage exports are growing strongly and the country’s relative performance is improving

PAGE 10 Source: UN Comtrade database; Coriolis analysis

1965-1980 (15 yrs)

22.6% 21.8%

19.1% 18.4% 18.3%

17.0% 15.5% 15.1%

14.0% 13.6% 13.5% 13.0% 12.8% 12.5% 12.0% 11.5%

10.8% 10.6% 10.2% 9.9%

9.3% 9.2%

GermanyChile

BelgiumAustriaIrelandFrance

UKSpain

FinlandSwitzerland

USAItaly

AustraliaIceland

SwedenDenmark

CanadaNew ZealandNetherlands

NorwayArgentina

PortugalUruguay

South Africa

1980-1995 (15 yrs)

1995-2011 (16 yrs)

12.0% 9.0%

8.3% 7.7% 7.7% 7.5% 7.3% 7.0%

6.5% 6.2% 6.1% 5.9% 5.7% 5.7% 5.7% 5.6%

5.3% 5.0% 4.9%

4.3% 3.6%

2.8% 2.2%

ChileSpain

AustriaIreland

PortugalBelgiumNorway

ItalyGermany

SwitzerlandSweden

NetherlandsUK

New ZealandFrance

FinlandDenmark

ArgentinaUruguay

IcelandCanada

USAAustralia

South Africa -0.1%

N/A N/A

#18

#14

#5

2.7%

3.1%

3.9%

3.9%

4.0%

5.6%

5.7%

5.7%

6.2%

6.4%

6.5%

6.8%

7.0%

7.3%

7.6%

8.0%

8.3%

8.3%

8.9%

8.9%

10.2%

10.3%

Ireland

Denmark

France

United Kingdom

Netherlands

Finland

Belgium

Australia

Italy

Spain

USA

Norway

Germany

Canada

South Africa

Portugal

Argentina

New Zealand

Chile

Switzerland

Sweden

Austria

WHAT IS ENABLING GROWTH?

PAGE 11

Six factors are driving the growth of New Zealand’s food industry

A. Comparative advantage

B. Strength in Research, Development and Science

C. New Zealand is a trusted partner; strong Biosecurity & Food Safety

D. Business-friendly environment

E. Supply of temperate foods to Asia

F. Business investment

Source: Coriolis

A. COMPARATIVE ADVANTAGE

PAGE 12

New Zealand has clear comparative advantage in food & beverages

Meat

Dairy

Fruit & Vegetables

Seafood

Food Ingredients

Processed foods & beverages

showing growth

Specialty grains

Pet Food

Confectionery

Nutraceuticals

Infant formula

Jams and Jellies

Ice Cream

Biscuits/Baked

Breakfast Cereal

Pasta products

Soups & Sauces

French fries

Innovative foods

1 Plant and Food Research, AgResearch, Massey University, Lincoln University (see page 14); Source: Coriolis

Natural resources

Human resources

Science & technology

Fundamental Building Blocks

Beverages

• Educated, professional farmers/orchardists

• 150 years of biological history and knowledge (e.g. animal genetics)

• Universities with AgScience strength (e.g. Massey, Lincoln)

• World leader in primary sector R&D (dairy, rotational grazing)

• Leverage R&D at scale1 • Strength in R&D around protein

processing and automation • Respected sustainable fisheries

management system • Animal welfare systems

• Geographically isolated • Sun, water, ideal growing conditions • Water rich overall (>90% of river water

reaches sea) • Animal and disease-free status • Counter-seasonal to North

Food & Beverages as a percent of New Zealand’s total export value over last 131 years (% of exports; 1880-2011)

A. COMPARATIVE ADVANTAGE – LONG TERM Food & beverage exports have been core to New Zealand’s exports for over 100 years – it is the country’s core competency

PAGE 13 Source: Statistics NZ 1880,1990,1920, NZ trade and shipping 1940, NZ Details and Exports 1960, UN Comtrade 1980,2000,2011 ; Coriolis analysis

16%

34%

51%

67%

54%

45% 44%

55%

1880 1900 1920 1940 1960 1980 2000 2011

Government-funded research and science organisations & universities with strong food & beverage activities (2013)

B. STRENGTH IN F&B R&D – ORGANISATIONS New Zealand has a long history of R&D and Science in the food industry, supported by publicly funded Crown Research Institutes, Centres of Research Excellence and Universities

PAGE 14 Source: Coriolis

Research and Science Organisations Universities

B. STRENGTH IN F&B R&D – NEW ZEALAND FOOD INNOVATION (NZFI) New Zealand Food Innovation (NZFI) – a network of four open access commercial scale R&D and pilot plant centres – demonstrates the Government‘s commitment to the food and beverage industry

PAGE 15 Source: NZFI

Location Focus Capability

Auckland

Processed/FMCG foods Space/equipment for hire Export registrations ~1000 kg/shift

- Extrusion & milling/blending - UHT/Beverage - High pressure processing - Freeze drying - General processing - Multiple packaging styles - Production kitchen

Waikato

Dairy & Infant Formula ~500 kg/hour

- Spray dryer - Evaporator - Other dairy equipment - Packing

Palmerston North

Dairy Fruit & vegetables All Food and Beverage

- Same equipment range as Manukau (1/5th scale)

- Same equipment range as Waikato (1/20th scale)

- Post harvest technologies - Meat and small goods pilot plant

South Island

All Food and Beverage Sourcing of: - pilot equipment - technical expertise - business expertise

Auckland

Massey Univ.

Canada

Australia

Sweden

Switzerland

Norway

New Zealand

Finland

Denmark

Austria

Netherlands

Germany

Japan

Belgium

United Kingdom

Ireland

Spain

France

Italy

Portugal

Singapore

C. TRUSTED PARTNER – BRAND NEW ZEALAND

Source: Reputation Institute 2012 Country RepTrak; FutureBrand CountryBrandIndex 2012-13

Global benchmarking shows high value in “Brand New Zealand”

Reputation Institute rank of the top 20 most reputable countries Survey of 36,000 people in G8 countries; 2012

Switzerland

Canada

Japan

Sweden

New Zealand

Australia

Germany

United States

Finland

Norway

United Kingdom

Denmark

France

Singapore

Italy

Maldives

Austria

Netherlands

Spain

Mauritius

FutureBrand top 20 Country Brand Index global brand perceptions Survey of 3,600 opinion formers in 18 countries; 2012

6 5

PAGE 16

Japanese public image of foreign products (Index; 2009)

C. TRUSTED PARTNER – TRUSTED BY CONSUMERS Consumers in key markets – particularly Asia – trust New Zealand food and beverages

PAGE 17 Source: Gain report JA8713; Coriolis

Cost 100 = expensive, - 100 = inexpensive

Safety 100 = safe, -100 = unsafe

-100

-80

-60

-40

-20

0

20

40

60

80

100

-100 -80 -60 -40 -20 0 20 40 60 80 100

EU Scandinavia

Japan

USA

Asia (excl. China)

China

High cost & high trust

High cost & trusted

Lower cost & trusted

Lower cost & lower trust

Low cost & low trust

NZ & Australia

Safe

Unsafe

Expensive Cheap

C. TRUSTED PARTNER – WHY?

PAGE 18 *FCR Feed conversion ratio

New Zealand is trusted because all the elements of the food & beverage industry ecosystem work together

Food safety

Biosecurity Strong & Stable

Regulation

Sustainable Production

Trusted supplier of raw materials

Isolated island country thereby avoiding almost all major food scares of the last 20 years (Foot and Mouth disease, Mad cow disease, Bird Flu, SARS, E-Coli. Etc.

Track record of success to date

Low cost pastoral agriculture

Forbes: Best Country for Business (2012)

D. BUSINESS FRIENDLY Multiple global surveys show NZ Inc. leading in international business friendly rankings

PAGE 19 1. Covers extent of disclosure, director liability, ease of shareholder suits; Source: Forbes Magazine; Transparency International; World Bank; Heritage Foundation; Coriolis

New Zealand

Denmark

Hong Kong

Singapore

Canada

Ireland

Sweden

Norway

Finland

United Kingdom

Australia

United States

Belgium

Netherlands

Switzerland

Taiwan

Chile

Luxembourg

Estonia

Luxembourg

New Zealand

Denmark

Finland

Sweden

Singapore

Norway

Netherlands

Australia

Switzerland

Canada

Luxembourg

Hong Kong

Iceland

Germany

Japan

Austria

Barbados

United Kingdom

Belgium

Ireland

Singapore

Hong Kong

New Zealand

United States

Denmark

Norway

United Kingdom

Korea, Rep.

Iceland

Ireland

Finland

Saudi Arabia

Canada

Sweden

Australia

Georgia

Thailand

Malaysia

Germany

Japan

New Zealand

Singapore

Hong Kong

Malaysia

United States

Ireland

Canada

Israel

Colombia

United Kingdom

South Africa

Kazakhstan

Thailand

Mauritius

Kyrgyz Republic

Albania

Saudi Arabia

Georgia

Japan

Macedonia

Hong Kong

Singapore

Australia

New Zealand

Switzerland

Canada

Chile

Mauritius

Ireland

United States

Denmark

Bahrain

Luxembourg

United Kingdom

The Netherlands

Estonia

Finland

Taiwan

Macau

Cyprus

Corruption Perception Index (2011)

Ease of Doing Business (2011)

Investor Protection1

(2011) Economic Freedom (2011)

1 1 1 3 4

New Zealand F&B export value by region (US$b; 2011)

E. TRADE TO ASIA New Zealand exports food and beverages to a wide range of destinations; Asia is now the largest destination region taking ~40%; China is the single largest destination and Asian countries 10 of top 25 destinations

PAGE 20 NA/ME/CA = North Africa/Middle East/Central Asia; Note: totals may not add due to rounding; Source: UN Comtrade database; Coriolis analysis

Europe/Russia 16%

North America 12%

Australia/Pacific 12%

SE Asia 13%

East Asia 26%

South Asia 2%

11%

SS Africa 3%

C&S America

5%

Asian markets

~40%

Total = $20.7b

$2.9 $2.1 $2.1

$1.4 $0.9

$0.6 $0.6 $0.5 $0.5 $0.5 $0.5 $0.5 $0.5 $0.4 $0.4 $0.4 $0.4 $0.4 $0.3 $0.3

$0.3 $0.3 $0.2 $0.2 $0.2

ChinaAustralia

USAJapan

United KingdomSouth Korea

TaiwanMalaysia

PhilippinesSaudi Arabia

IndonesiaGermany

SingaporeThailand

AlgeriaVenezuela

United Arab EmiratesNetherlands

CanadaMexico

Sri LankaBelgium

FranceEgypt

Other Europe, nes

Top 25 F&B export country destinations by value (US$b; 2011)

North Africa/ Middle East Central Asia

76%

53%

44%

34% 25%

30% 29% 23% 23%

16%

10%

27%

20%

23%

23% 22%

15% 21% 18%

12%

3%

4%

5%

7%

8% 7%

9% 9% 11%

12%

7%

5%

9%

6%

7% 8%

8% 8% 8%

10%

0%

0%

4%

10% 15% 6%

5% 6% 7%

11%

2%

3%

8% 9% 6%

8%

10% 12% 11% 13%

3% 7% 11% 12%

16% 19% 24% 22% 23% 26%

1965 1970 1975 1980 1985 1990 1995 2000 2005 2011

E. TRADE TO ASIA

Share of New Zealand F&B export value by region (% of US$; 1965-2011)

New Zealand in the middle of a fundamental transition from feeding Westerners to feeding the Asia-Pacific region

PAGE 21 NA/ME/CA = North Africa/Middle East/Central Asia; Source: UN Comtrade database; Coriolis analysis

Europe

Other

Australia/ Oceania

E Asia

SE Asia

N America

North Africa/ Middle East Central Asia

0%

5%

10%

15%

20%

25%

30%

$0 $1 $2 $3 $4 $5

East Asia

SE Asia

Australia/Pacific

North America

Europe/Russia

SS Africa

South Asia NA/ME/CA

C&S America

F&B export value growth matrix (2001-2011)

E. TRADE TO ASIA - GROWTH MATRIX Growth is being driven by the Asia-Pacific region and other markets of the future

PAGE 22 Source: UN Comtrade database; Coriolis analysis

10 year value CAGR

(01-11)

10 year absolute value growth (US$b; 2011)

Size of bubble = export value (US$b; 2011)

Small but fast growing

Traditional markets but slow growing

Solid performers

!!!!

E. TRADE TO ASIA - FREE TRADE AGREEMENTS New Zealand has free trade agreements – either in place or proposed – with most of the Asia-Pacific region

PAGE 23 Source: Wikipedia (public domain) with Coriolis additions using MFAT data

Existing

Proposed

Farmers 59%

Private 12% Iwi 1%

Listed 2%

Charity 0%

Australia 6%

USA 4%

Canada 1%

UK 1%

Swiss 1% Germany 1%

France 1% Netherlands 1% Russia 0%

Japan 7%

Hong Kong 1% Singapore 1%

China 0%

Malaysia 0% Thailand 0%

Turnover of top 78 New Zealand F&B firms by ownership type/country (% of NZ$m; 2011e)

F. ATTRACTING GLOBAL INVESTMENT - MAJOR F&B FIRM TURNOVER BY OWNERSHIP The NZ F&B industry has attracted investment from a wide range of sources; 25% of the investment in the New Zealand food & beverage industry is from outside the country

PAGE 24 Note: Uses share of turnover of top 78 firms as a proxy for investment; Source: Coriolis

75%

Anglo-Saxon 11%

European 5%

Asia 9%

TOTAL = NZ$44.4b

International 25%

EXAMPLES: Significant investors in F&B manufacturing in New Zealand (Current as of 2011)

F. ATTRACTING GLOBAL INVESTMENT The New Zealand Food & beverage manufacturing sector has attracted investment from around the world

PAGE 25 Source: Coriolis

Asia Australia Europe North America

South America

Structure of information available to investors under the New Zealand Food & Beverage Information Project (November 2012)

F&B INFORMATION PROJECT Depending on your area or areas of interest, the Food & Beverage Information Project has an extensive and highly detailed range of sector level analysis available

PAGE 26

Dairy Sector

Meat Sector

Produce Sector

Seafood Sector

Nutraceuticals Sector

Processed Foods Sector

Beverages Sector

Investor’s Guide You are here

Your next stop

Markets

Emerging Growth Opportunities

Agency

Key areas of responsibility and support for investors in NZ F&B

Contact details

- Economic Development Policy - Research goals & priorities - Scientific research funding - Labour market/employment relations

http://www.mbie.govt.nz/contact-us www.foodandbeverage.govt.nz

- Trade promotion - Export development

http://www.nzte.govt.nz/about-nzte/pages/new-zealand-offices.aspx

- Trade relationships - Trade policy, including trade negotiations and

offshore market access barriers

http://mfat.govt.nz/About-the-Ministry/Contact-us/index.php

- Biosecurity - Agricultural production - Food safety

http://www.mpi.govt.nz/AboutMPI/ContactUs/tabid/94/Default.aspx

FOR MORE INFORMATION For more information or assistance in investing in the New Zealand food and beverage industry contact:

PAGE 27

www.foodandbeverage.govt.nz