Public contracts in New Zealand are now open to suppliers from 43 countries, after a global procurement deal came into force on 13 August.
New Zealand’s accession to the World Trade Organization’s Government Procurement Agreement, which covers reciprocal access to public contracts, was approved in November 2014.
Firms from New Zealand will now find it easier to bid for work in countries that are signatories to the deal.
Steven Joyce, economic development minister, said in a statement: “Kiwi companies now have more opportunities to do business with governments internationally than ever before.
“From today they have guaranteed access to bid for approximately $1.7 trillion in annual overseas government contracts across 43 WTO member countries, including the US, Canada, Japan and 28 countries of the EU.
“This figure is expected to grow significantly as further countries join the GPA over time, creating new opportunities for Kiwi businesses to export more products and services to more destinations."
In June Australia announced its intention to submit an offer to join the deal.