Wellington: New Zealand achieving first place in the 2022 Sustainable Trade Index indicates the country is on the right track for its economic recovery and future economic security, according to New Zealand Minister for Trade and Export Growth Damien O’Connor.
The Sustainable Trade Index, launched in Singapore overnight by the Hinrich Foundation and the International Institute for Management Development, ranks New Zealand first of 30 economies that undertake international trade in a manner that supports long-term global sustainable development.
The Index assesses three core pillars – economic growth, environmental protection and societal development.
"We have placed trade at the centre of our economic recovery, successfully securing four FTAs in the past five years. Our standard of living depends on our ability to trade and that in turn depends on adapting to changing markets. This ranking is a strong validation of our approach and goes to the heart of our global brand," O'Connor said in a media release on Thursday.
The Index analyses 70 data points grouped into Economic, Environmental, and Societal Pillars across 30 economies including all members of APEC and the CPTPP.
"We ranked first in the Index’s environmental protection and societal development pillars. Within these, we scored particularly highly on labour standards, political stability, air pollution and environmental standards in trade," he stated.
"New Zealand is out in front thanks to our commitment to rules-based and liberal international trade, high quality environmental regulation and high levels of social cohesion," he added.
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