Plans on hold

SLI Systems has delayed the start of a cheaper self-service model, although the e-commerce software developer’s cost-cutting measures to prepare for that strategy is likely to ensure it achieves a profit this year. The Christchurch-based company had planned to roll out a suite of selfservice products by June 30 but said it has encountered bigger than anticipated hurdles and now doesn’t see the products launched until 2019. Cost cutting to prepare for the new products helped SLI achieve a profit of $1.1 million in the six months ended December 31 and the company said second-half profit was expected to exceed $1.1m, implying annual profit will be more than $2.2m. It reported a loss of $1.9m in 2017.

Trade deal with EU welcomed but expert warns dairy sector would be most challenging

negotiation,” he said. “What they’re wanting is [a] very similar regime to what we have now in the wine area, we used to be able to make New Zealand champagne and now we can’t.

“We don’t call wine Bordeaux or Burgundy anymore, so we can survive in the wine area, we can probably survive in dairy. I think some of these terms are of such common usage that it would be ridiculous to force change.”

The EU has estimated that a trade deal could result in a $1.2-$2 billion boost to New Zealand’s GDP and up to a 20 per cent increase in exports.

Trade Minister David Parker said it opened the way for a free trade deal with one of the largest economies in the world.

“It’s very significant. That flows through to more jobs and higher incomes for New Zealanders,” Parker said. “I’m sure one of the areas of sensitivity for the French is our agricultural exports to Europe and that will be a difficult part to negotiate. But we want to get the negotiations started.”

Finny said the talks were made possible by the hard work of others over many years in keeping access to that market open.

“It’s particularly important from a strategic perspective at a time when we are seeing a number of other players looking inward. This demonstrates that the EU, New Zealand and Australia are looking outward and wanting to expand their free trade networks.”

Beef + Lamb New Zealand chief executive Sam McIvor said the agreement to start negotiations represented a significant milestone for the sector.

“The FTA will create a stable and level playing field which is crucial to the growth and future prosperity of the sheep and beef sector and New Zealand as a whole,” McIvor said.

“Over 600,000 New Zealand jobs directly depend on international trade, with the red meat sector alone employing over 80,000 people in New Zealand. All these jobs depend on our ability to export competitively and in a stable and predictable trading environment.”

The EU is an important market for New Zealand red meat products, worth more than $1.8b in the year ended December 2017.

EU trade commissioner Cecilia Malmstrom said Australia and New Zealand “are important friends and allies. They are part of this circle of friends who believe in good trade and in multilateralism.”

What they’re wanting is [a] very similar regime to what we have now in the wine area, we used to be able to make New Zealand champagne and now we can’t. Charles Finny